Laredo Petroleum, Inc. (NYSE:LPI) – Investment analysts at Capital One Financial Corporation lowered their Q2 2017 EPS estimates for Laredo Petroleum in a research note issued on Thursday. Capital One Financial Corporation analyst R. Tullis now expects that the oil and gas producer will post earnings of $0.13 per share for the quarter, down from their previous forecast of $0.14. Capital One Financial Corporation also issued estimates for Laredo Petroleum’s Q3 2017 earnings at $0.15 EPS, Q4 2017 earnings at $0.17 EPS, FY2017 earnings at $0.55 EPS and FY2018 earnings at $0.71 EPS.

Laredo Petroleum (NYSE:LPI) last released 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 Zacks’ 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 for the quarter, compared to analyst estimates of $164.39 million. During the same quarter in the prior year, the firm earned $0.08 EPS. The company’s revenue for the quarter was up 77.3% compared to the same quarter last year.

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LPI has been the topic of a number of other reports. Scotiabank restated a “hold” rating and set a $15.00 price target on shares of Laredo Petroleum in a research report on Monday, May 15th. FBR & Co restated a “buy” rating and set a $16.00 price target on shares of Laredo Petroleum in a research report on Friday, May 12th. Stifel Nicolaus restated a “buy” rating and set a $17.00 price target on shares of Laredo Petroleum in a research report on Friday, July 14th. BMO Capital Markets restated a “hold” rating and set a $10.00 price target on shares of Laredo Petroleum in a research report on Tuesday, June 27th. Finally, Credit Suisse Group restated a “sell” rating and set a $13.00 price target on shares of Laredo Petroleum in a research report on Friday, March 31st. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and ten have assigned a buy rating to the stock. Laredo Petroleum currently has a consensus rating of “Hold” and a consensus target price of $14.63.

Laredo Petroleum (LPI) opened at 12.37 on Friday. The firm’s market cap is $2.96 billion. The company’s 50-day moving average price is $10.97 and its 200-day moving average price is $12.90. Laredo Petroleum has a 52-week low of $9.20 and a 52-week high of $16.47.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Inc. raised its position 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 worth $110,946,000 after buying an additional 7,306,738 shares during the last quarter. Vanguard Group Inc. raised its position 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 worth $217,638,000 after buying an additional 2,578,127 shares during the last quarter. Point72 Asset Management L.P. raised its position 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 worth $54,727,000 after buying an additional 2,250,300 shares during the last quarter. Norges Bank bought a new position in Laredo Petroleum during the fourth quarter valued at about $25,204,000. Finally, Impala Asset Management LLC raised its position in 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 in the last quarter.

About Laredo Petroleum

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.

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

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