Brokers Set Expectations for Laredo Petroleum, Inc.’s FY2017 Earnings (LPI)

Laredo Petroleum, Inc. (NYSE:LPI) – Research analysts at KeyCorp dropped their FY2017 earnings per share 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 post earnings of $0.51 per share for the year, down from their previous estimate of $0.52. KeyCorp has a “Hold” rating on the stock. KeyCorp also issued estimates for Laredo Petroleum’s Q1 2018 earnings at $0.14 EPS, Q2 2018 earnings at $0.15 EPS, Q3 2018 earnings at $0.16 EPS, Q4 2018 earnings at $0.19 EPS and FY2018 earnings at $0.63 EPS.

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

COPYRIGHT VIOLATION WARNING: This news story was originally reported by Transcript Daily and is owned by of Transcript Daily. If you are accessing this news story on another website, it was copied illegally and republished in violation of US and international trademark and copyright legislation. The original version of this news story can be accessed at https://transcriptdaily.com/2017/11/07/brokers-set-expectations-for-laredo-petroleum-inc-s-fy2017-earnings-lpi.html.

Other research analysts also recently issued research reports about the stock. BidaskClub raised shares of Laredo Petroleum from a “sell” rating to a “hold” rating in a research report on Wednesday, July 12th. BMO Capital Markets set a $14.00 price objective on shares of Laredo Petroleum and gave the stock a “hold” rating in a research report on Sunday, August 13th. Zacks Investment Research downgraded shares of Laredo Petroleum from a “hold” rating to a “sell” rating in a research report on Thursday, August 10th. Bank of America Corporation boosted their target price on shares of Laredo Petroleum from $11.00 to $13.00 and gave the stock an “underperform” rating in a research report on Tuesday, August 8th. Finally, Williams Capital set a $14.00 target price on shares of Laredo Petroleum and gave the stock a “hold” rating in a research report on Tuesday, August 8th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eight have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $14.45.

Laredo Petroleum (NYSE LPI) opened at $11.00 on Monday. 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 12-month low of $9.57 and a 12-month high of $16.47. The stock has a market cap of $2,522.13, a P/E ratio of 21.22, a PEG ratio of 4.16 and a beta of 1.39.

A number of large investors have recently bought and sold shares of LPI. Legal & General Group Plc raised its position in Laredo Petroleum by 157.2% during the first quarter. Legal & General Group Plc now owns 51,379 shares of the oil and gas producer’s stock worth $750,000 after acquiring an additional 31,401 shares during the period. Vanguard Group Inc. raised its position in Laredo Petroleum by 20.9% during the first quarter. Vanguard Group Inc. now owns 14,906,724 shares of the oil and gas producer’s stock worth $217,638,000 after acquiring an additional 2,578,127 shares during the period. Geode Capital Management LLC raised its position in Laredo Petroleum by 4.8% during the first quarter. Geode Capital Management LLC now owns 1,057,063 shares of the oil and gas producer’s stock worth $15,433,000 after acquiring an additional 48,017 shares during the period. Dimensional Fund Advisors LP raised its position in Laredo Petroleum by 153.4% during the first quarter. Dimensional Fund Advisors LP now owns 2,368,993 shares of the oil and gas producer’s stock worth $34,586,000 after acquiring an additional 1,434,079 shares during the period. Finally, UBS Group AG raised its position in Laredo Petroleum by 77.4% during the first quarter. UBS Group AG now owns 41,462 shares of the oil and gas producer’s stock worth $606,000 after acquiring an additional 18,092 shares during the period.

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)

Receive News & Ratings for Laredo Petroleum Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Laredo Petroleum Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply