Analysts Issue Forecasts for Laredo Petroleum, Inc.’s FY2017 Earnings (LPI)

Laredo Petroleum, Inc. (NYSE:LPI) – Equities research analysts at KeyCorp lifted their FY2017 earnings per share estimates for Laredo Petroleum in a research note issued to investors on Tuesday. KeyCorp analyst C. Stevens now forecasts that the oil and gas producer will post earnings of $0.54 per share for the year, up from their previous estimate of $0.52. KeyCorp currently has a “Hold” rating on the stock. KeyCorp also issued estimates for Laredo Petroleum’s Q4 2017 earnings at $0.20 EPS, Q2 2018 earnings at $0.23 EPS, Q3 2018 earnings at $0.23 EPS, Q4 2018 earnings at $0.26 EPS, Q1 2019 earnings at $0.24 EPS, Q2 2019 earnings at $0.25 EPS, Q3 2019 earnings at $0.28 EPS and FY2019 earnings at $1.07 EPS.

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

LPI has been the subject of a number of other research reports. Zacks Investment Research cut Laredo Petroleum from a “buy” rating to a “hold” rating in a research report on Friday, October 20th. BMO Capital Markets reduced their price target on 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. Williams Capital upped their price target on Laredo Petroleum from $13.00 to $14.00 and gave the stock a “hold” rating in a research report on Wednesday, October 18th. Piper Jaffray Companies reduced their price target on Laredo Petroleum from $17.00 to $15.00 and set an “overweight” rating for the company in a research report on Monday, September 18th. Finally, Barclays reduced their price target on Laredo Petroleum from $15.00 to $14.00 and set an “overweight” rating for the company in a research report on Monday, November 20th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and eight have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $14.08.

Shares of Laredo Petroleum (NYSE:LPI) opened at $10.00 on Thursday. The company has a debt-to-equity ratio of 4.16, a current ratio of 0.64 and a quick ratio of 0.64. The company has a market capitalization of $2,430.00, a PE ratio of 21.18, a price-to-earnings-growth ratio of 4.15 and a beta of 1.32. Laredo Petroleum has a 1 year low of $9.55 and a 1 year high of $15.55.

Several large investors have recently added to or reduced their stakes in LPI. WS Management Lllp grew its position in shares of Laredo Petroleum by 50.8% during the third quarter. WS Management Lllp now owns 5,934,700 shares of the oil and gas producer’s stock worth $76,736,000 after purchasing an additional 2,000,000 shares in the last quarter. Goldman Sachs Group Inc. grew its position in shares of Laredo Petroleum by 69.4% during the second quarter. Goldman Sachs Group Inc. now owns 3,082,481 shares of the oil and gas producer’s stock worth $32,428,000 after purchasing an additional 1,263,202 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Laredo Petroleum by 7.9% during the second quarter. Vanguard Group Inc. now owns 16,083,332 shares of the oil and gas producer’s stock worth $169,197,000 after purchasing an additional 1,176,608 shares in the last quarter. Vaughan Nelson Investment Management L.P. grew its position in shares of Laredo Petroleum by 36.8% during the third quarter. Vaughan Nelson Investment Management L.P. now owns 3,886,100 shares of the oil and gas producer’s stock worth $50,247,000 after purchasing an additional 1,044,525 shares in the last quarter. Finally, Marshall Wace North America L.P. grew its position in shares of Laredo Petroleum by 228.3% during the second quarter. Marshall Wace North America L.P. now owns 1,222,273 shares of the oil and gas producer’s stock worth $13,445,000 after purchasing an additional 849,924 shares in the last quarter.

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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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