Q3 2017 EPS Estimates for Laredo Petroleum, Inc. Lifted by Analyst (LPI)
Laredo Petroleum, Inc. (NYSE:LPI) – Equities researchers at KeyCorp increased their Q3 2017 EPS estimates for shares of Laredo Petroleum in a research report issued on Tuesday. KeyCorp analyst C. Stevens now expects that the oil and gas producer will post earnings of $0.15 per share for the quarter, up from their previous forecast of $0.14. KeyCorp currently has a “Hold” rating on the stock. KeyCorp also issued estimates for Laredo Petroleum’s FY2017 earnings at $0.53 EPS.
Laredo Petroleum (NYSE:LPI) last announced its earnings results on Monday, August 7th. The oil and gas producer reported $0.10 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.11 by ($0.01). The business had revenue of $187.00 million for 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 quarterly revenue was up 27.5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.13 earnings per share. COPYRIGHT VIOLATION NOTICE: This story was first posted by American Banking News and is the property of of American Banking News. If you are accessing this story on another site, it was illegally stolen and reposted in violation of U.S. & international copyright & trademark law. The legal version of this story can be viewed at https://www.americanbankingnews.com/2017/10/06/q3-2017-eps-estimates-for-laredo-petroleum-inc-lifted-by-analyst-lpi.html.
A number of other analysts also recently weighed in on the company. Stifel Nicolaus restated a “buy” rating and issued a $17.00 price target on shares of Laredo Petroleum in a research note on Wednesday. Piper Jaffray Companies decreased their price target on Laredo Petroleum from $17.00 to $15.00 and set an “overweight” rating on the stock in a research note on Monday, September 18th. Cowen and Company restated a “hold” rating and issued a $12.00 price target on shares of Laredo Petroleum in a research note on Sunday, September 17th. BMO Capital Markets set a $14.00 price target on Laredo Petroleum and gave the company a “hold” rating in a research note on Sunday, August 13th. Finally, Zacks Investment Research downgraded Laredo Petroleum from a “hold” rating to a “sell” rating in a research note on Thursday, August 10th. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating and eight have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $14.65.
Laredo Petroleum (NYSE LPI) opened at 12.79 on Friday. The stock’s 50 day moving average price is $12.38 and its 200 day moving average price is $12.32. The firm has a market capitalization of $3.06 billion, a P/E ratio of 25.84 and a beta of 1.45. Laredo Petroleum has a 52 week low of $9.57 and a 52 week high of $16.47.
A number of hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. raised its holdings in Laredo Petroleum by 7.9% during the second quarter. Vanguard Group Inc. now owns 16,083,332 shares of the oil and gas producer’s stock worth $169,197,000 after purchasing an additional 1,176,608 shares during the last quarter. BlackRock Inc. raised its holdings in Laredo Petroleum by 2,500.3% during the first quarter. BlackRock Inc. now owns 7,598,973 shares of the oil and gas producer’s stock worth $110,946,000 after purchasing an additional 7,306,738 shares during the last quarter. State Street Corp raised its holdings in Laredo Petroleum by 15.9% during the second quarter. State Street Corp now owns 5,810,244 shares of the oil and gas producer’s stock worth $61,121,000 after purchasing an additional 799,073 shares during the last quarter. Wellington Management Group LLP raised its holdings in Laredo Petroleum by 25.2% during the first quarter. Wellington Management Group LLP now owns 4,311,310 shares of the oil and gas producer’s stock worth $62,944,000 after purchasing an additional 869,100 shares during the last quarter. Finally, Point72 Asset Management L.P. raised its holdings in Laredo Petroleum by 150.2% during 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 purchasing an additional 2,250,300 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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