FY2017 EPS Estimates for Laredo Petroleum, Inc. Decreased by Analyst (LPI)
Laredo Petroleum, Inc. (NYSE:LPI) – Investment analysts at KeyCorp decreased their FY2017 earnings per share (EPS) estimates for shares of Laredo Petroleum in a report issued on Wednesday. KeyCorp analyst C. Stevens now expects that the oil and gas producer will post earnings per share of $0.52 for the year, down from their previous forecast of $0.53. KeyCorp has a “Hold” rating on the stock. KeyCorp also issued estimates for Laredo Petroleum’s FY2018 earnings at $0.60 EPS.
Laredo Petroleum (NYSE:LPI) last released its earnings results on Monday, August 7th. The oil and gas producer reported $0.10 EPS for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.01). The business had revenue of $187.00 million for 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 company’s quarterly revenue was up 27.5% compared to the same quarter last year. During the same period in the prior year, the company posted $0.13 EPS.
A number of other analysts also recently issued reports on LPI. Williams Capital set a $14.00 price target on shares of Laredo Petroleum and gave the stock a “hold” rating in a report on Tuesday, August 8th. Zacks Investment Research upgraded shares of Laredo Petroleum from a “hold” rating to a “buy” rating and set a $14.00 price target for the company in a report on Tuesday, October 17th. Scotiabank set a $13.00 target price on shares of Laredo Petroleum and gave the company a “hold” rating in a report on Saturday, July 1st. Bank of America Corporation lifted their target price on shares of Laredo Petroleum from $11.00 to $13.00 and gave the company an “underperform” rating in a report on Tuesday, August 8th. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $17.00 target price on shares of Laredo Petroleum in a report on Friday, July 14th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eight have issued a buy rating to the stock. Laredo Petroleum has a consensus rating of “Hold” and an average target price of $14.64.
Laredo Petroleum (LPI) opened at 11.60 on Monday. The company has a market cap of $2.78 billion, a PE ratio of 23.43 and a beta of 1.45. The stock’s 50 day moving average price is $12.52 and its 200-day moving average price is $12.22. Laredo Petroleum has a 1-year low of $9.57 and a 1-year high of $16.47.
A number of hedge funds have recently modified their holdings of LPI. Evanson Asset Management LLC purchased a new position in Laredo Petroleum in the 2nd quarter valued at approximately $108,000. Koch Industries Inc. purchased a new position in Laredo Petroleum in the 2nd quarter valued at approximately $129,000. QCM Cayman Ltd. purchased a new position in Laredo Petroleum in the 2nd quarter valued at approximately $133,000. Teacher Retirement System of Texas boosted its position in Laredo Petroleum by 3.8% in the 2nd quarter. Teacher Retirement System of Texas now owns 12,884 shares of the oil and gas producer’s stock valued at $136,000 after buying an additional 468 shares during the period. Finally, BNP Paribas Arbitrage SA boosted its position in Laredo Petroleum by 4.8% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 16,735 shares of the oil and gas producer’s stock valued at $176,000 after buying an additional 766 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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