Laredo Petroleum Inc (LPI) to Post FY2017 Earnings of $0.52 Per Share, Seaport Global Securities Forecasts

Laredo Petroleum Inc (NYSE:LPI) – Seaport Global Securities boosted their FY2017 EPS estimates for shares of Laredo Petroleum in a research report issued to clients and investors on Tuesday. Seaport Global Securities analyst M. Kelly now anticipates that the oil and gas producer will post earnings per share of $0.52 for the year, up from their previous estimate of $0.37. Seaport Global Securities currently has a “Neutral” rating and a $9.50 target price on the stock. Seaport Global Securities also issued estimates for Laredo Petroleum’s Q1 2018 earnings at $0.22 EPS, Q2 2018 earnings at $0.24 EPS, Q3 2018 earnings at $0.25 EPS, Q4 2018 earnings at $0.23 EPS and FY2018 earnings at $0.94 EPS.

Several other equities research analysts have also recently commented on LPI. Robert W. Baird lowered their target price on Laredo Petroleum from $17.00 to $14.00 and set an “outperform” rating for the company in a research note on Monday. J P Morgan Chase & Co cut Laredo Petroleum from a “neutral” rating to an “underweight” rating and set a $13.00 target price for the company. in a research note on Friday, December 15th. Stifel Nicolaus reissued a “buy” rating and issued a $17.00 target price on shares of Laredo Petroleum in a research note on Wednesday, October 4th. Cowen reissued a “hold” rating and issued a $12.00 target price on shares of Laredo Petroleum in a research note on Sunday, September 17th. Finally, Credit Suisse Group started coverage on Laredo Petroleum in a research note on Monday, December 11th. They issued a “neutral” rating and a $12.00 target price for the company. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eight have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $13.78.

Shares of Laredo Petroleum (NYSE LPI) opened at $10.48 on Friday. Laredo Petroleum has a twelve month low of $9.46 and a twelve month high of $15.55. The firm has a market capitalization of $2,478.48, a price-to-earnings ratio of 20.86, a P/E/G ratio of 4.07 and a beta of 1.33. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 4.16.

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 Zacks’ consensus estimate of $0.14 by ($0.01). Laredo Petroleum had a net margin of 15.92% and a return on equity of 43.77%. The business had revenue of $205.82 million for the quarter, compared to analyst estimates of $178.48 million. During the same period in the prior year, the business earned $0.12 earnings per share. The company’s revenue for the quarter was up 28.9% on a year-over-year basis.

A number of hedge funds have recently bought and sold shares of LPI. Koch Industries Inc. bought a new position in Laredo Petroleum during the second quarter worth about $129,000. QCM Cayman Ltd. acquired a new stake in shares of Laredo Petroleum in the 2nd quarter valued at about $133,000. Teacher Retirement System of Texas raised its stake in shares of Laredo Petroleum by 3.8% in the 2nd quarter. Teacher Retirement System of Texas now owns 12,884 shares of the oil and gas producer’s stock valued at $136,000 after purchasing an additional 468 shares during the period. Fox Run Management L.L.C. acquired a new stake in shares of Laredo Petroleum in the 3rd quarter valued at about $167,000. Finally, BNP Paribas Arbitrage SA raised its stake in shares of Laredo Petroleum by 4.8% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 16,735 shares of the oil and gas producer’s stock valued at $176,000 after purchasing an additional 766 shares during the period.

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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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