Q3 2017 EPS Estimates for Laredo Petroleum, Inc. Cut by Analyst (LPI)
Laredo Petroleum, Inc. (NYSE:LPI) – Research analysts at Capital One Financial Corporation dropped their Q3 2017 earnings estimates for Laredo Petroleum in a research report issued on Tuesday. Capital One Financial Corporation analyst R. Tullis now expects that the oil and gas producer will post earnings per share of $0.14 for the quarter, down from their previous estimate of $0.15. Capital One Financial Corporation also issued estimates for Laredo Petroleum’s Q4 2017 earnings at $0.15 EPS, FY2017 earnings at $0.49 EPS and FY2018 earnings at $0.84 EPS.
LPI has been the subject of a number of other reports. Stifel Nicolaus reaffirmed a “buy” rating and set a $17.00 price target on shares of Laredo Petroleum in a report on Wednesday. Williams Capital set a $14.00 price objective on Laredo Petroleum and gave the stock a “hold” rating in a research note on Tuesday, August 8th. Scotiabank set a $13.00 target price on Laredo Petroleum and gave the stock a “hold” rating in a report on Saturday, July 1st. Bank of America Corporation increased their target price on Laredo Petroleum from $11.00 to $13.00 and gave the stock an “underperform” rating in a report on Tuesday, August 8th. Finally, BMO Capital Markets set a $14.00 target price on Laredo Petroleum and gave the company a “hold” rating in a research note on Sunday, August 13th. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating and eight have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $14.73.
Laredo Petroleum (NYSE:LPI) opened at 12.56 on Wednesday. The stock has a 50 day moving average of $12.34 and a 200 day moving average of $12.32. The company has a market capitalization of $3.01 billion, a PE ratio of 25.37 and a beta of 1.45. Laredo Petroleum has a 12-month low of $9.57 and a 12-month high of $16.47.
Laredo Petroleum (NYSE:LPI) last issued its quarterly earnings results on Monday, August 7th. The oil and gas producer reported $0.10 earnings per share for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.01). The company had revenue of $187.00 million during the quarter, compared to analyst estimates of $173.32 million. Laredo Petroleum had a return on equity of 49.15% and a net margin of 16.73%. The company’s revenue was up 27.5% on a year-over-year basis. During the same period in the prior year, the company posted $0.13 earnings per share.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Public Employees Retirement System of Ohio grew its holdings in Laredo Petroleum by 3.9% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 72,037 shares of the oil and gas producer’s stock worth $758,000 after acquiring an additional 2,699 shares during the period. Koch Industries Inc. bought a new stake in shares of Laredo Petroleum during the 2nd quarter valued at $129,000. Caxton Associates LP bought a new stake in shares of Laredo Petroleum during the 2nd quarter valued at $6,819,000. Cubist Systematic Strategies LLC raised its position in shares of Laredo Petroleum by 455.0% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 65,868 shares of the oil and gas producer’s stock valued at $693,000 after acquiring an additional 53,999 shares during the last quarter. Finally, State Street Corp lifted its stake in shares of Laredo Petroleum by 15.9% in the 2nd quarter. State Street Corp now owns 5,810,244 shares of the oil and gas producer’s stock valued at $61,121,000 after purchasing an additional 799,073 shares during the period.
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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