Laredo Petroleum, Inc. (LPI) Forecasted to Post FY2017 Earnings of $0.48 Per Share
Laredo Petroleum, Inc. (NYSE:LPI) – Research analysts at Seaport Global Securities increased their FY2017 EPS estimates for Laredo Petroleum in a research note issued to investors on Monday. Seaport Global Securities analyst M. Kelly now forecasts that the oil and gas producer will earn $0.48 per share for the year, up from their previous estimate of $0.45. Seaport Global Securities currently has a “Neutral” rating and a $9.50 target price on the stock. Seaport Global Securities also issued estimates for Laredo Petroleum’s Q4 2017 earnings at $0.14 EPS, Q1 2018 earnings at $0.07 EPS and FY2018 earnings at $0.38 EPS.
Laredo Petroleum (NYSE:LPI) last issued its earnings results on Monday, August 7th. The oil and gas producer reported $0.10 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.11 by ($0.01). The firm had revenue of $187.00 million during the quarter, compared to the consensus estimate of $173.32 million. Laredo Petroleum had a net margin of 16.73% and a return on equity of 49.15%. The business’s quarterly revenue was up 27.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.13 earnings per share. TRADEMARK VIOLATION WARNING: “Laredo Petroleum, Inc. (LPI) Forecasted to Post FY2017 Earnings of $0.48 Per Share” was reported by American Banking News and is owned by of American Banking News. If you are reading this news story on another publication, it was copied illegally and republished in violation of international copyright law. The original version of this news story can be viewed at https://www.americanbankingnews.com/2017/10/11/laredo-petroleum-inc-lpi-forecasted-to-post-fy2017-earnings-of-0-48-per-share.html.
Shares of Laredo Petroleum (NYSE LPI) opened at 12.67 on Wednesday. The company has a market capitalization of $3.03 billion, a price-to-earnings ratio of 25.60 and a beta of 1.45. The firm has a 50 day moving average price of $12.44 and a 200 day moving average price of $12.30. Laredo Petroleum has a 52 week low of $9.57 and a 52 week high of $16.47.
A number of large investors have recently bought and sold shares of the business. Teacher Retirement System of Texas raised its holdings in Laredo Petroleum by 3.8% during the second quarter. Teacher Retirement System of Texas now owns 12,884 shares of the oil and gas producer’s stock valued at $136,000 after acquiring an additional 468 shares during the period. Public Employees Retirement Association of Colorado raised its holdings in Laredo Petroleum by 1.6% during the second quarter. Public Employees Retirement Association of Colorado now owns 35,230 shares of the oil and gas producer’s stock valued at $371,000 after acquiring an additional 546 shares during the period. Amalgamated Bank raised its holdings in Laredo Petroleum by 3.1% during the first quarter. Amalgamated Bank now owns 20,647 shares of the oil and gas producer’s stock valued at $301,000 after acquiring an additional 622 shares during the period. BNP Paribas Arbitrage SA raised its holdings in Laredo Petroleum by 4.8% during the second quarter. BNP Paribas Arbitrage SA now owns 16,735 shares of the oil and gas producer’s stock valued at $176,000 after acquiring an additional 766 shares during the period. Finally, Public Employees Retirement System of Ohio raised its holdings in Laredo Petroleum by 2.0% during the first quarter. Public Employees Retirement System of Ohio now owns 69,338 shares of the oil and gas producer’s stock valued at $1,012,000 after acquiring an additional 1,327 shares during the period.
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.
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