Equities research analysts forecast that Laredo Petroleum Inc (NYSE:LPI) will post $211.34 million in sales for the current fiscal quarter, Zacks reports. Four analysts have issued estimates for Laredo Petroleum’s earnings, with estimates ranging from $200.00 million to $232.63 million. Laredo Petroleum reported sales of $215.29 million during the same quarter last year, which indicates a negative year-over-year growth rate of 1.8%. The firm is expected to report its next quarterly earnings report after the market closes on Wednesday, February 12th.
According to Zacks, analysts expect that Laredo Petroleum will report full-year sales of $853.77 million for the current financial year, with estimates ranging from $819.00 million to $895.20 million. For the next financial year, analysts expect that the company will report sales of $866.52 million, with estimates ranging from $824.00 million to $935.04 million. Zacks’ sales calculations are a mean average based on a survey of research firms that follow Laredo Petroleum.
Laredo Petroleum (NYSE:LPI) last announced its quarterly earnings results on Tuesday, November 5th. The oil and gas producer reported $0.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.19 by $0.02. The firm had revenue of $193.57 million for the quarter, compared to the consensus estimate of $215.83 million. Laredo Petroleum had a net margin of 5.87% and a return on equity of 14.25%. During the same quarter last year, the firm posted $0.27 EPS.
A number of analysts have recently issued reports on LPI shares. Wells Fargo & Co dropped their price target on shares of Laredo Petroleum from $5.00 to $4.00 and set an “equal weight” rating on the stock in a report on Thursday, January 9th. ValuEngine upgraded shares of Laredo Petroleum from a “sell” rating to a “hold” rating in a research report on Friday, January 3rd. Goldman Sachs Group cut shares of Laredo Petroleum from a “neutral” rating to a “sell” rating and reduced their target price for the company from $2.50 to $2.00 in a report on Tuesday, December 17th. Zacks Investment Research downgraded shares of Laredo Petroleum from a “strong-buy” rating to a “hold” rating in a research report on Friday. Finally, Stifel Nicolaus lifted their price target on shares of Laredo Petroleum from $5.50 to $5.60 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $4.39.
Shares of NYSE LPI traded down $0.06 during trading on Tuesday, reaching $2.40. 5,720,810 shares of the company traded hands, compared to its average volume of 5,491,625. The firm has a 50 day simple moving average of $2.64 and a 200-day simple moving average of $2.60. The company has a quick ratio of 1.54, a current ratio of 1.54 and a debt-to-equity ratio of 0.92. The stock has a market capitalization of $583.35 million, a PE ratio of 3.37 and a beta of 1.79. Laredo Petroleum has a 52-week low of $2.03 and a 52-week high of $3.99.
Several hedge funds have recently bought and sold shares of the company. Luminus Management LLC increased its holdings in Laredo Petroleum by 286.6% in the 2nd quarter. Luminus Management LLC now owns 10,695,485 shares of the oil and gas producer’s stock worth $31,017,000 after acquiring an additional 7,929,185 shares in the last quarter. Millennium Management LLC increased its holdings in Laredo Petroleum by 309.8% in the 3rd quarter. Millennium Management LLC now owns 5,171,889 shares of the oil and gas producer’s stock worth $12,464,000 after acquiring an additional 3,909,877 shares in the last quarter. Parametric Portfolio Associates LLC increased its holdings in Laredo Petroleum by 352.2% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 3,602,580 shares of the oil and gas producer’s stock worth $10,447,000 after acquiring an additional 2,805,931 shares in the last quarter. Caymus Capital Partners L.P. increased its holdings in Laredo Petroleum by 145.6% in the 4th quarter. Caymus Capital Partners L.P. now owns 3,218,300 shares of the oil and gas producer’s stock worth $9,237,000 after acquiring an additional 1,908,169 shares in the last quarter. Finally, Balyasny Asset Management LLC increased its holdings in Laredo Petroleum by 734.8% in the 2nd quarter. Balyasny Asset Management LLC now owns 1,571,420 shares of the oil and gas producer’s stock worth $4,557,000 after acquiring an additional 1,383,170 shares in the last quarter. 96.77% of the stock is currently owned by hedge funds and other institutional investors.
Laredo Petroleum Company Profile
Laredo Petroleum, Inc, an independent energy company, engages in the acquisition, exploration, and development of oil and natural gas properties in the Permian Basin of West Texas, the United States. The company also provides midstream and marketing services comprising transportation and marketing of oil and natural gas; and natural gas lift systems, crude oil and natural gas gathering, and water delivery and takeaway services.
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