Laredo Petroleum Inc (NYSE:LPI) – Stock analysts at Williams Capital decreased their FY2016 earnings estimates for shares of Laredo Petroleum in a research report issued to clients and investors on Monday. Williams Capital analyst G. Sorbara now forecasts that the firm will earn $0.47 per share for the year, down from their previous estimate of $0.48. Williams Capital has a “Hold” rating and a $14.00 price target on the stock. Williams Capital also issued estimates for Laredo Petroleum’s FY2017 earnings at $0.34 EPS and FY2018 earnings at $0.62 EPS.

Laredo Petroleum (NYSE:LPI) last released its earnings results on Wednesday, November 2nd. The company reported $0.12 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.12. The business earned $159.70 million during the quarter, compared to the consensus estimate of $150.09 million. Laredo Petroleum had a positive return on equity of 123.07% and a negative net margin of 225.04%. The business’s revenue for the quarter was up 6.3% on a year-over-year basis. During the same period last year, the business posted $0.07 earnings per share.

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

Several other equities analysts have also recently issued reports on the company. Zacks Investment Research cut Laredo Petroleum from a “buy” rating to a “hold” rating in a research report on Thursday, August 11th. Capital One Financial Corp. raised Laredo Petroleum from an “equal weight” rating to an “overweight” rating and set a $15.00 price objective on the stock in a research report on Wednesday, August 24th. Seaport Global Securities raised Laredo Petroleum from a “sell” rating to a “neutral” rating and upped their price objective for the company from $8.00 to $11.00 in a research report on Tuesday, August 30th. Barclays PLC reaffirmed a “buy” rating and issued a $16.00 price objective on shares of Laredo Petroleum in a research report on Wednesday. Finally, Raymond James Financial Inc. upped their price objective on Laredo Petroleum from $16.00 to $17.00 and gave the company an “outperform” rating in a research report on Thursday, September 8th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and seven have given a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $12.33.

Laredo Petroleum (NYSE:LPI) opened at 14.07 on Wednesday. The stock has a 50 day moving average price of $13.04 and a 200 day moving average price of $11.84. Laredo Petroleum has a 12 month low of $3.90 and a 12 month high of $14.49. The stock’s market capitalization is $3.35 billion.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Royal London Asset Management Ltd. bought a new position in Laredo Petroleum during the second quarter valued at approximately $1,760,000. California State Teachers Retirement System increased its position in Laredo Petroleum by 8.7% in the second quarter. California State Teachers Retirement System now owns 291,504 shares of the company’s stock valued at $3,055,000 after buying an additional 23,326 shares during the period. Ngam Advisors L.P. increased its position in Laredo Petroleum by 18.9% in the second quarter. Ngam Advisors L.P. now owns 461,827 shares of the company’s stock valued at $4,840,000 after buying an additional 73,434 shares during the period. Capital Fund Management S.A. bought a new position in Laredo Petroleum during the second quarter valued at approximately $1,739,000. Finally, Bank of Montreal Can bought a new position in Laredo Petroleum during the second quarter valued at approximately $10,296,000.

In other Laredo Petroleum news, VP Patrick J. Curth sold 17,000 shares of the stock in a transaction dated Monday, August 29th. The shares were sold at an average price of $12.57, for a total transaction of $213,690.00. Following the completion of the transaction, the vice president now owns 172,926 shares of the company’s stock, valued at approximately $2,173,679.82. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.50% of the company’s stock.

Laredo Petroleum Company Profile

Laredo Petroleum, Inc (Laredo) is an independent energy company 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. The Company’s segments include Exploration and production, and Midstream and marketing.

5 Day Chart for NYSE:LPI

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