$208.48 Million in Sales Expected for Laredo Petroleum Inc (LPI) This Quarter

Equities research analysts predict that Laredo Petroleum Inc (NYSE:LPI) will report sales of $208.48 million for the current quarter, according to Zacks. Seven analysts have made estimates for Laredo Petroleum’s earnings, with the highest sales estimate coming in at $241.00 million and the lowest estimate coming in at $180.00 million. Laredo Petroleum reported sales of $184.31 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 13.1%. The firm is expected to announce its next earnings report on Wednesday, February 21st.

On average, analysts expect that Laredo Petroleum will report full year sales of $208.48 million for the current year, with estimates ranging from $645.00 million to $856.80 million. For the next financial year, analysts expect that the business will post sales of $893.95 million per share, with estimates ranging from $736.70 million to $1.08 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that cover Laredo Petroleum.

Laredo Petroleum (NYSE:LPI) last released its quarterly earnings results on Wednesday, November 1st. The oil and gas producer reported $0.13 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.14 by ($0.01). The firm had revenue of $205.82 million for the quarter, compared to the consensus estimate of $178.48 million. Laredo Petroleum had a return on equity of 43.77% and a net margin of 15.92%. The business’s revenue for the quarter was up 28.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.12 earnings per share.

Several analysts have recently weighed in on LPI shares. Piper Jaffray Companies restated a “buy” rating and set a $15.00 price target on shares of Laredo Petroleum in a report on Wednesday, November 22nd. Zacks Investment Research upgraded Laredo Petroleum from a “hold” rating to a “buy” rating and set a $14.00 price target on the stock in a report on Tuesday, October 17th. Stifel Nicolaus restated a “buy” rating and set a $17.00 price target on shares of Laredo Petroleum in a report on Wednesday, October 4th. Barclays reiterated a “buy” rating on shares of Laredo Petroleum in a report on Thursday, November 23rd. Finally, National Securities began coverage on Laredo Petroleum in a report on Tuesday, January 16th. They set a “buy” rating on the stock. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and eight have assigned a buy rating to the company. Laredo Petroleum presently has a consensus rating of “Hold” and a consensus price target of $13.78.

Several institutional investors have recently bought and sold shares of the business. Vaughan Nelson Investment Management L.P. raised its position in shares of Laredo Petroleum by 7.6% during the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 4,182,575 shares of the oil and gas producer’s stock worth $44,377,000 after purchasing an additional 296,475 shares during the period. SG Americas Securities LLC raised its position in shares of Laredo Petroleum by 40.3% during the fourth quarter. SG Americas Securities LLC now owns 111,590 shares of the oil and gas producer’s stock worth $1,184,000 after purchasing an additional 32,044 shares during the period. State of Alaska Department of Revenue acquired a new position in shares of Laredo Petroleum during the fourth quarter worth approximately $123,000. Schwab Charles Investment Management Inc. raised its position in shares of Laredo Petroleum by 5.7% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 441,083 shares of the oil and gas producer’s stock worth $4,680,000 after purchasing an additional 23,834 shares during the period. Finally, California Public Employees Retirement System raised its position in shares of Laredo Petroleum by 1.7% during the third quarter. California Public Employees Retirement System now owns 624,010 shares of the oil and gas producer’s stock worth $8,068,000 after purchasing an additional 10,610 shares during the period.

Shares of Laredo Petroleum (LPI) opened at $9.99 on Friday. The firm has a market capitalization of $2,420.00, a PE ratio of 19.98, a PEG ratio of 2.06 and a beta of 1.32. The company has a debt-to-equity ratio of 4.16, a quick ratio of 0.64 and a current ratio of 0.64. Laredo Petroleum has a twelve month low of $9.46 and a twelve month high of $15.15.

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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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Earnings History and Estimates for Laredo Petroleum (NYSE:LPI)

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