Laredo Petroleum, Inc. (LPI) Expected to Announce Quarterly Sales of $180.03 Million
Brokerages expect Laredo Petroleum, Inc. (NYSE:LPI) to report sales of $180.03 million for the current quarter, Zacks Investment Research reports. Nine analysts have issued estimates for Laredo Petroleum’s earnings, with estimates ranging from $142.50 million to $221.00 million. Laredo Petroleum posted sales of $159.73 million during the same quarter last year, which would indicate a positive year over year growth rate of 12.7%. The firm is scheduled to issue its next quarterly earnings report on Wednesday, November 1st.
According to Zacks, analysts expect that Laredo Petroleum will report full year sales of $180.03 million for the current year, with estimates ranging from $634.00 million to $865.49 million. For the next year, analysts expect that the business will report sales of $808.14 million per share, with estimates ranging from $501.10 million to $1.08 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that cover Laredo Petroleum.
Laredo Petroleum (NYSE:LPI) last released 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). Laredo Petroleum had a net margin of 16.73% and a return on equity of 49.15%. The business had revenue of $187.00 million during the quarter, compared to analyst estimates of $173.32 million. During the same quarter in the previous year, the firm posted $0.13 earnings per share. The firm’s quarterly revenue was up 27.5% on a year-over-year basis.
A number of research firms recently commented on LPI. Zacks Investment Research upgraded Laredo Petroleum from a “sell” rating to a “hold” rating in a research report on Tuesday, August 1st. BMO Capital Markets reiterated a “hold” rating and issued a $14.00 price objective on shares of Laredo Petroleum in a research report on Tuesday. Stifel Nicolaus reiterated a “buy” rating and issued a $17.00 price objective on shares of Laredo Petroleum in a research report on Wednesday, October 4th. Seaport Global Securities reiterated a “neutral” rating and issued a $9.50 price objective (down from $10.00) on shares of Laredo Petroleum in a research report on Monday. Finally, KeyCorp reiterated a “hold” rating on shares of Laredo Petroleum in a research report on Friday, September 1st. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating and eight have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $14.68.
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Shares of Laredo Petroleum (NYSE:LPI) opened at 12.67 on Wednesday. The stock has a 50 day moving average of $12.44 and a 200-day moving average of $12.30. The firm has a market capitalization of $3.03 billion, a P/E ratio of 25.60 and a beta of 1.45. Laredo Petroleum has a 52-week low of $9.57 and a 52-week high of $16.47.
Several hedge funds have recently bought and sold shares of LPI. Evanson Asset Management LLC acquired a new position in shares of Laredo Petroleum in the 2nd quarter valued at $108,000. Quantbot Technologies LP acquired a new stake in Laredo Petroleum during the 1st quarter worth $114,000. Meeder Asset Management Inc. raised its stake in Laredo Petroleum by 282.5% during the 1st 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 during the period. Koch Industries Inc. acquired a new stake in Laredo Petroleum during the 2nd quarter worth $129,000. Finally, QCM Cayman Ltd. acquired a new stake in Laredo Petroleum during the 2nd quarter worth $133,000.
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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