KeyCorp Weighs in on Laredo Petroleum Inc’s Q1 2018 Earnings (LPI)

Laredo Petroleum Inc (NYSE:LPI) – Investment analysts at KeyCorp lowered their Q1 2018 EPS estimates for shares of Laredo Petroleum in a research note issued on Wednesday. KeyCorp analyst C. Stevens now forecasts that the oil and gas producer will earn $0.26 per share for the quarter, down from their prior forecast of $0.28. KeyCorp has a “Hold” rating on the stock. KeyCorp also issued estimates for Laredo Petroleum’s Q2 2018 earnings at $0.25 EPS, Q3 2018 earnings at $0.24 EPS, Q4 2018 earnings at $0.27 EPS, FY2018 earnings at $1.01 EPS, Q1 2019 earnings at $0.26 EPS, Q2 2019 earnings at $0.28 EPS, Q3 2019 earnings at $0.31 EPS, Q4 2019 earnings at $0.31 EPS and FY2019 earnings at $1.16 EPS.

LPI has been the subject of several other reports. Zacks Investment Research lowered Laredo Petroleum from a “buy” rating to a “hold” rating in a research report on Friday, October 20th. BMO Capital Markets dropped their target price on Laredo Petroleum from $14.00 to $11.00 and set a “market perform” rating on the stock in a research note on Thursday, November 2nd. Williams Capital boosted their target price on Laredo Petroleum from $13.00 to $14.00 and gave the stock a “hold” rating in a research note on Wednesday, October 18th. JPMorgan Chase & Co. downgraded Laredo Petroleum from a “neutral” rating to an “underweight” rating and set a $13.00 target price on the stock. in a research note on Friday, December 15th. Finally, National Securities initiated coverage on Laredo Petroleum in a research note on Tuesday, January 16th. They set a “buy” rating on the stock. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and eight have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $13.78.

Laredo Petroleum (LPI) opened at $9.99 on Monday. The company has a market capitalization of $2,420.00, a price-to-earnings 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 current ratio of 0.64 and a quick ratio of 0.64. Laredo Petroleum has a 1 year low of $9.46 and a 1 year high of $15.15.

Laredo Petroleum (NYSE:LPI) last released its quarterly earnings results on Wednesday, November 1st. The oil and gas producer reported $0.13 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.14 by ($0.01). The company had revenue of $205.82 million during 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 company’s revenue was up 28.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.12 earnings per share.

A number of hedge funds have recently made changes to their positions in LPI. Wells Fargo & Company MN grew its stake in Laredo Petroleum by 24.4% during the 2nd quarter. Wells Fargo & Company MN now owns 218,884 shares of the oil and gas producer’s stock valued at $2,304,000 after purchasing an additional 42,994 shares during the last quarter. Caxton Associates LP purchased a new stake in Laredo Petroleum during the 2nd quarter valued at about $6,819,000. Chicago Equity Partners LLC purchased a new stake in Laredo Petroleum during the 3rd quarter valued at about $1,177,000. Castleton Investment Management LLC purchased a new stake in Laredo Petroleum during the 2nd quarter valued at about $315,000. Finally, Campbell & CO Investment Adviser LLC purchased a new stake in Laredo Petroleum during the 3rd quarter valued at about $340,000.

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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.

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

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