Laredo Petroleum, Inc. (NYSE:LPI) – Research analysts at Seaport Global Securities dropped their Q1 2018 EPS estimates for shares of Laredo Petroleum in a report issued on Wednesday. Seaport Global Securities analyst M. Kelly now expects that the oil and gas producer will post earnings per share of $0.01 for the quarter, down from their prior estimate of $0.15. Seaport Global Securities currently has a “Neutral” rating and a $9.00 target price on the stock. Seaport Global Securities also issued estimates for Laredo Petroleum’s Q2 2018 earnings at $0.01 EPS, Q3 2018 earnings at $0.04 EPS, Q4 2018 earnings at $0.05 EPS and FY2018 earnings at $0.11 EPS.

LPI has been the subject of a number of other reports. J P Morgan Chase & Co decreased their price objective on shares of Laredo Petroleum from $14.00 to $13.00 and set a “neutral” rating for the company in a report on Wednesday, May 31st. Stephens raised shares of Laredo Petroleum from an “underweight” rating to a “hold” rating in a research report on Monday, May 15th. Zacks Investment Research lowered shares of Laredo Petroleum from a “buy” rating to a “hold” rating and set a $16.00 target price for the company. in a research report on Tuesday, February 28th. TheStreet raised shares of Laredo Petroleum from a “d-” rating to a “c-” rating in a research report on Wednesday, May 3rd. Finally, Credit Suisse Group reissued a “sell” rating and set a $13.00 target price on shares of Laredo Petroleum in a research report on Friday, March 31st. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and ten have issued a buy rating to the stock. Laredo Petroleum has a consensus rating of “Hold” and a consensus price target of $15.70.

Earnings History and Estimates for Laredo Petroleum (NYSE:LPI)

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Laredo Petroleum (LPI) traded down 0.196% on Friday, reaching $9.671. The company’s stock had a trading volume of 912,849 shares. Laredo Petroleum has a 1-year low of $9.20 and a 1-year high of $16.47. The company’s market capitalization is $2.31 billion. The stock has a 50 day moving average price of $12.00 and a 200-day moving average price of $13.44.

Laredo Petroleum (NYSE:LPI) last released its quarterly earnings data on Wednesday, May 3rd. The oil and gas producer reported $0.10 EPS for the quarter, missing the consensus estimate of $0.11 by $0.01. Laredo Petroleum had a negative net margin of 1.78% and a positive return on equity of 75.64%. The company had revenue of $189 million during the quarter, compared to analysts’ expectations of $164.39 million. During the same period last year, the business earned $0.08 earnings per share. The company’s revenue for the quarter was up 77.3% compared to the same quarter last year.

Several hedge funds and other institutional investors have recently made changes to their positions in LPI. Quantbot Technologies LP bought a new position in shares of Laredo Petroleum during the first quarter worth approximately $114,000. Meeder Asset Management Inc. raised its position in shares of Laredo Petroleum by 282.5% in the first quarter. Meeder Asset Management Inc. now owns 8,093 shares of the oil and gas producer’s stock worth $118,000 after buying an additional 5,977 shares in the last quarter. Glen Harbor Capital Management LLC bought a new position in shares of Laredo Petroleum during the first quarter worth approximately $122,000. James Investment Research Inc. bought a new position in shares of Laredo Petroleum during the first quarter worth approximately $149,000. Finally, Tiedemann Wealth Management LLC bought a new position in shares of Laredo Petroleum during the first quarter worth approximately $150,000.

In other news, VP Patrick J. Curth sold 43,830 shares of the company’s stock in a transaction dated Friday, March 31st. The shares were sold at an average price of $14.41, for a total transaction of $631,590.30. Following the completion of the transaction, the vice president now owns 232,386 shares of the company’s stock, valued at $3,348,682.26. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Peter Kagan sold 163,207 shares of the company’s stock in a transaction dated Friday, March 31st. The shares were sold at an average price of $14.34, for a total transaction of $2,340,388.38. Following the transaction, the director now directly owns 68,006 shares of the company’s stock, valued at approximately $975,206.04. The disclosure for this sale can be found here. 1.40% of the stock is currently owned by corporate insiders.

Laredo Petroleum Company Profile

Laredo Petroleum, Inc (Laredo) is an independent energy company. The Company is focused on the acquisition, exploration and development of oil and natural gas properties, and the transportation of oil and natural gas from such properties primarily in the Permian Basin in West Texas. It operates through two segments: Exploration and production of oil and natural gas properties, and Midstream and marketing.

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