Laredo Petroleum (LPI) Issues Quarterly Earnings Results, Beats Estimates By $0.01 EPS

Laredo Petroleum (NYSE:LPI) announced its earnings results on Wednesday. The oil and gas producer reported $0.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.18 by $0.01, Bloomberg Earnings reports. Laredo Petroleum had a net margin of 15.92% and a return on equity of 43.77%. The company had revenue of $240.34 million during the quarter, compared to analyst estimates of $212.57 million. During the same period in the previous year, the business earned $0.16 earnings per share. The firm’s quarterly revenue was up 30.4% compared to the same quarter last year.

Laredo Petroleum (NYSE:LPI) opened at $7.93 on Thursday. The company has a market cap of $1,920.00, a PE ratio of 15.86, a PEG ratio of 1.56 and a beta of 1.21. 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 one year low of $7.41 and a one year high of $15.15.

Several brokerages recently issued reports on LPI. Williams Capital upped their target price on shares of Laredo Petroleum from $13.00 to $14.00 and gave the stock a “hold” rating in a research report on Wednesday, October 18th. BMO Capital Markets cut their target price on shares of Laredo Petroleum from $14.00 to $11.00 and set a “market perform” rating for the company in a research report on Thursday, November 2nd. Zacks Investment Research lowered shares of Laredo Petroleum from a “buy” rating to a “hold” rating in a research report on Friday, October 20th. National Securities initiated coverage on shares of Laredo Petroleum in a research report on Tuesday, January 16th. They set a “buy” rating for the company. Finally, Piper Jaffray Companies restated a “buy” rating and set a $16.00 price target on shares of Laredo Petroleum in a research report on Tuesday, January 9th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and seven have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $13.44.

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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.

Earnings History for Laredo Petroleum (NYSE:LPI)

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