$178.00 Million in Sales Expected for Laredo Petroleum Inc (LPI) This Quarter

Brokerages predict that Laredo Petroleum Inc (NYSE:LPI) will report sales of $178.00 million for the current quarter, according to Zacks Investment Research. Three analysts have provided estimates for Laredo Petroleum’s earnings, with the lowest sales estimate coming in at $160.00 million and the highest estimate coming in at $195.00 million. Laredo Petroleum reported sales of $259.70 million in the same quarter last year, which would suggest a negative year-over-year growth rate of 31.5%. The business is scheduled to issue its next earnings report on Wednesday, May 1st.

According to Zacks, analysts expect that Laredo Petroleum will report full year sales of $742.76 million for the current fiscal year, with estimates ranging from $659.00 million to $883.00 million. For the next fiscal year, analysts anticipate that the firm will report sales of $755.81 million, with estimates ranging from $664.00 million to $927.00 million. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that follow Laredo Petroleum.

Laredo Petroleum (NYSE:LPI) last posted its quarterly earnings data on Wednesday, February 13th. The oil and gas producer reported $0.16 EPS for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.04). The company had revenue of $215.28 million for the quarter, compared to analysts’ expectations of $253.75 million. Laredo Petroleum had a return on equity of 21.16% and a net margin of 29.37%. The company’s revenue for the quarter was down 10.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.19 EPS.

LPI has been the topic of a number of research analyst reports. Zacks Investment Research raised Laredo Petroleum from a “sell” rating to a “hold” rating in a research note on Tuesday, December 18th. Credit Suisse Group lowered Laredo Petroleum from a “neutral” rating to an “underperform” rating in a research note on Wednesday, December 19th. Capital One Financial lowered Laredo Petroleum from an “overweight” rating to an “underweight” rating in a research note on Thursday, December 20th. Robert W. Baird decreased their price target on Laredo Petroleum from $10.00 to $3.00 and set a “neutral” rating on the stock in a research note on Friday, January 4th. Finally, Piper Jaffray Companies lowered Laredo Petroleum from an “overweight” rating to a “neutral” rating in a research note on Wednesday, January 9th. Four investment analysts have rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $6.71.

Laredo Petroleum stock opened at $3.14 on Tuesday. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.96 and a quick ratio of 0.96. Laredo Petroleum has a 52 week low of $2.80 and a 52 week high of $11.18. The stock has a market cap of $765.47 million, a P/E ratio of 3.38 and a beta of 1.47.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in LPI. BlackRock Inc. lifted its position in Laredo Petroleum by 2.8% during the 4th quarter. BlackRock Inc. now owns 23,586,126 shares of the oil and gas producer’s stock worth $85,382,000 after acquiring an additional 641,490 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in Laredo Petroleum by 15.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 10,125,338 shares of the oil and gas producer’s stock worth $36,654,000 after acquiring an additional 1,330,494 shares in the last quarter. AQR Capital Management LLC lifted its position in Laredo Petroleum by 33.2% during the 3rd quarter. AQR Capital Management LLC now owns 7,588,133 shares of the oil and gas producer’s stock worth $61,995,000 after acquiring an additional 1,890,401 shares in the last quarter. Bank of New York Mellon Corp lifted its position in Laredo Petroleum by 171.2% during the 4th quarter. Bank of New York Mellon Corp now owns 5,602,765 shares of the oil and gas producer’s stock worth $20,282,000 after acquiring an additional 3,537,075 shares in the last quarter. Finally, Norges Bank acquired a new position in Laredo Petroleum during the 4th quarter worth approximately $11,611,000. 99.41% of the stock is currently owned by institutional investors and hedge funds.

About Laredo Petroleum

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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Earnings History and Estimates for Laredo Petroleum (NYSE:LPI)

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