Laredo Petroleum, Inc. to Post FY2017 Earnings of $0.46 Per Share, Williams Capital Forecasts (NYSE:LPI)
Laredo Petroleum, Inc. (NYSE:LPI) – Stock analysts at Williams Capital increased their FY2017 earnings per share (EPS) estimates for Laredo Petroleum in a note issued to investors on Tuesday. Williams Capital analyst G. Sorbara now forecasts that the oil and gas producer will post earnings of $0.46 per share for the year, up from their prior forecast of $0.45. Williams Capital has a “Hold” rating and a $16.00 price target on the stock.
Laredo Petroleum (NYSE:LPI) last posted its quarterly earnings data on Wednesday, May 3rd. The oil and gas producer reported $0.10 earnings per share (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 the consensus estimate of $164.39 million. During the same quarter last year, the business earned $0.08 earnings per share. The company’s revenue was up 77.3% on a year-over-year basis. COPYRIGHT VIOLATION NOTICE: This report was posted by American Banking News and is the sole property of of American Banking News. If you are viewing this report on another site, it was illegally stolen and republished in violation of U.S. & international copyright laws. The original version of this report can be read at https://www.americanbankingnews.com/2017/07/20/laredo-petroleum-inc-to-post-fy2017-earnings-of-0-46-per-share-williams-capital-forecasts-nyselpi.html.
Other equities analysts also recently issued reports about the stock. UBS AG began coverage on shares of Laredo Petroleum in a report on Thursday, March 23rd. They set a “neutral” rating and a $14.00 target price on the stock. Scotiabank set a $15.00 price target on shares of Laredo Petroleum and gave the company a “hold” rating in a research note on Monday, March 27th. Credit Suisse Group reaffirmed a “sell” rating and set a $13.00 price objective on shares of Laredo Petroleum in a research report on Friday, March 31st. Seaport Global Securities raised shares of Laredo Petroleum from a “neutral” rating to a “buy” rating in a research report on Friday, March 31st. Finally, Stifel Nicolaus started coverage on shares of Laredo Petroleum in a report on Wednesday, April 12th. They issued a “buy” rating and a $18.00 target price for the company. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and ten have assigned a buy rating to the stock. Laredo Petroleum currently has an average rating of “Hold” and an average price target of $14.63.
Laredo Petroleum (LPI) opened at 12.36 on Thursday. The firm has a 50-day moving average of $10.96 and a 200 day moving average of $12.91. Laredo Petroleum has a 1-year low of $9.20 and a 1-year high of $16.47. The firm’s market cap is $2.96 billion.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. boosted its stake in shares of Laredo Petroleum by 2,500.3% in the first quarter. BlackRock Inc. now owns 7,598,973 shares of the oil and gas producer’s stock valued at $110,946,000 after buying an additional 7,306,738 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Laredo Petroleum by 20.9% in the first quarter. Vanguard Group Inc. now owns 14,906,724 shares of the oil and gas producer’s stock valued at $217,638,000 after buying an additional 2,578,127 shares during the last quarter. Point72 Asset Management L.P. boosted its stake in shares of Laredo Petroleum by 150.2% in the first quarter. Point72 Asset Management L.P. now owns 3,748,400 shares of the oil and gas producer’s stock valued at $54,727,000 after buying an additional 2,250,300 shares during the last quarter. Norges Bank bought a new stake in shares of Laredo Petroleum during the fourth quarter valued at about $25,204,000. Finally, Impala Asset Management LLC boosted its stake in shares of Laredo Petroleum by 144.6% in the first quarter. Impala Asset Management LLC now owns 2,955,195 shares of the oil and gas producer’s stock valued at $43,146,000 after buying an additional 1,746,915 shares during the last quarter.
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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