Q3 2017 EPS Estimates for Laredo Petroleum, Inc. (LPI) Boosted by Capital One Financial Corporation

Laredo Petroleum, Inc. (NYSE:LPI) – Capital One Financial Corporation increased their Q3 2017 earnings estimates for shares of Laredo Petroleum in a note issued to investors on Wednesday. Capital One Financial Corporation analyst R. Tullis now forecasts that the oil and gas producer will earn $0.17 per share for the quarter, up from their prior forecast of $0.15. Capital One Financial Corporation also issued estimates for Laredo Petroleum’s Q4 2017 earnings at $0.19 EPS and FY2017 earnings at $0.56 EPS.

Laredo Petroleum (NYSE:LPI) last posted 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 million for the quarter, compared to analysts’ expectations of $173.32 million. Laredo Petroleum had a net margin of 16.73% and a return on equity of 49.15%. The company’s revenue for the quarter was up 27.5% on a year-over-year basis. During the same period last year, the business posted $0.13 EPS.

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A number of other research firms have also recently commented on LPI. Credit Suisse Group reaffirmed an “underperform” rating and issued a $15.00 target price on shares of Laredo Petroleum in a research report on Friday, June 2nd. Zacks Investment Research cut shares of Laredo Petroleum from a “hold” rating to a “sell” rating in a research report on Thursday. Cowen and Company set a $12.00 target price on shares of Laredo Petroleum and gave the company a “hold” rating in a research report on Tuesday, July 18th. BidaskClub cut shares of Laredo Petroleum from a “sell” rating to a “strong sell” rating in a research report on Wednesday, June 21st. Finally, Scotiabank reaffirmed a “hold” rating and issued a $15.00 target price on shares of Laredo Petroleum in a research report on Monday, May 15th. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and ten have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $14.63.

Laredo Petroleum (NYSE:LPI) opened at 12.34 on Friday. The stock has a market cap of $2.95 billion, a P/E ratio of 24.93 and a beta of 1.41. Laredo Petroleum has a 52-week low of $9.57 and a 52-week high of $16.47. The firm’s 50-day moving average is $11.56 and its 200-day moving average is $12.73.

Hedge funds have recently added to or reduced their stakes in the company. Teacher Retirement System of Texas raised its stake in Laredo Petroleum by 3.8% in the second quarter. Teacher Retirement System of Texas now owns 12,884 shares of the oil and gas producer’s stock worth $136,000 after buying an additional 468 shares during the last quarter. Public Employees Retirement Association of Colorado raised its stake in Laredo Petroleum by 1.6% in the second quarter. Public Employees Retirement Association of Colorado now owns 35,230 shares of the oil and gas producer’s stock worth $371,000 after buying an additional 546 shares during the last quarter. Amalgamated Bank raised its stake in Laredo Petroleum by 3.1% in the first quarter. Amalgamated Bank now owns 20,647 shares of the oil and gas producer’s stock worth $301,000 after buying an additional 622 shares during the last quarter. BNP Paribas Arbitrage SA raised its stake in Laredo Petroleum by 4.8% in the second quarter. BNP Paribas Arbitrage SA now owns 16,735 shares of the oil and gas producer’s stock worth $176,000 after buying an additional 766 shares during the last quarter. Finally, CIBC World Markets Inc. raised its stake in Laredo Petroleum by 7.2% in the first quarter. CIBC World Markets Inc. now owns 17,010 shares of the oil and gas producer’s stock worth $248,000 after buying an additional 1,136 shares during the last quarter.

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 and Estimates for Laredo Petroleum (NYSE:LPI)

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