Laredo Petroleum, Inc. (NYSE:LPI) – Investment analysts at Capital One Financial Corporation upped their FY2018 earnings estimates for Laredo Petroleum in a research report issued on Thursday. Capital One Financial Corporation analyst R. Tullis now expects that the oil and gas producer will post earnings per share of $0.74 for the year, up from their previous forecast of $0.71.
LPI has been the subject of a number of other reports. Zacks Investment Research downgraded Laredo Petroleum from a “hold” rating to a “sell” rating in a research note on Tuesday, July 18th. BMO Capital Markets set a $14.00 price target on Laredo Petroleum and gave the company a “hold” rating in a research note on Sunday, August 13th. KeyCorp restated a “hold” rating on shares of Laredo Petroleum in a research note on Friday, September 1st. BidaskClub upgraded Laredo Petroleum from a “strong sell” rating to a “sell” rating in a research note on Wednesday, July 5th. Finally, J P Morgan Chase & Co decreased their price target on Laredo Petroleum from $14.00 to $13.00 and set a “neutral” rating for the company in a research note on Wednesday, May 31st. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating and eight have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $14.72.
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Shares of Laredo Petroleum (LPI) opened at 11.66 on Monday. The firm has a market capitalization of $2.79 billion, a price-to-earnings ratio of 23.56 and a beta of 1.44. The company has a 50-day moving average price of $12.26 and a 200 day moving average price of $12.47. Laredo Petroleum has a 12-month low of $9.57 and a 12-month high of $16.47.
Laredo Petroleum (NYSE:LPI) last posted its earnings results on Monday, August 7th. The oil and gas producer reported $0.10 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.11 by $0.01. Laredo Petroleum had a return on equity of 49.15% and a net margin of 16.73%. The company had revenue of $187 million during the quarter, compared to analyst estimates of $173.32 million. During the same quarter last year, the firm posted $0.13 earnings per share. The firm’s revenue for the quarter was up 27.5% compared to the same quarter last year.
Hedge funds and other institutional investors have recently modified their holdings of the company. Two Sigma Securities LLC acquired a new stake in Laredo Petroleum during the 1st quarter worth approximately $514,000. Glen Harbor Capital Management LLC acquired a new stake in Laredo Petroleum during the 1st quarter worth approximately $122,000. IBM Retirement Fund lifted its holdings in Laredo Petroleum by 313.5% during the 1st quarter. IBM Retirement Fund now owns 48,048 shares of the oil and gas producer’s stock worth $702,000 after purchasing an additional 36,429 shares during the last quarter. Credit Suisse AG lifted its holdings in Laredo Petroleum by 189.6% during the 1st quarter. Credit Suisse AG now owns 349,708 shares of the oil and gas producer’s stock worth $5,105,000 after purchasing an additional 228,946 shares during the last quarter. Finally, Bank of Montreal Can lifted its holdings in Laredo Petroleum by 18.4% during the 2nd quarter. Bank of Montreal Can now owns 1,027,804 shares of the oil and gas producer’s stock worth $10,813,000 after purchasing an additional 159,472 shares during the last quarter.
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.
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