Research Analysts Set Expectations for Laredo Petroleum Inc.’s Q1 2018 Earnings (LPI)
Laredo Petroleum Inc. (NYSE:LPI) – KeyCorp issued their Q1 2018 earnings estimates for Laredo Petroleum in a report issued on Tuesday. KeyCorp analyst C. Stevens anticipates that the firm will post earnings per share of $0.19 for the quarter. KeyCorp also issued estimates for Laredo Petroleum’s Q2 2018 earnings at $0.21 EPS, Q3 2018 earnings at $0.24 EPS and FY2018 earnings at $0.92 EPS.
Laredo Petroleum (NYSE:LPI) last issued its quarterly earnings data on Wednesday, November 2nd. The company reported $0.12 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.12. Laredo Petroleum had a positive return on equity of 123.07% and a negative net margin of 225.04%. The business earned $159.70 million during the quarter, compared to analyst estimates of $150.09 million. During the same period in the prior year, the company posted $0.07 EPS. The business’s revenue for the quarter was up 6.3% compared to the same quarter last year.
Several other research firms have also recently weighed in on LPI. Zacks Investment Research upgraded shares of Laredo Petroleum from a “hold” rating to a “buy” rating and set a $15.00 target price for the company in a research note on Wednesday, October 5th. Raymond James Financial Inc. increased their target price on shares of Laredo Petroleum from $16.00 to $17.00 and gave the company an “outperform” rating in a research note on Thursday, September 8th. Williams Capital initiated coverage on shares of Laredo Petroleum in a research note on Monday, August 29th. They issued a “hold” rating and a $14.00 target price for the company. JPMorgan Chase & Co. reiterated a “hold” rating on shares of Laredo Petroleum in a research note on Thursday, November 3rd. Finally, Seaport Global Securities upgraded shares of Laredo Petroleum from a “sell” rating to a “neutral” rating and increased their target price for the company from $8.00 to $11.00 in a research note on Tuesday, August 30th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and seven have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $12.33.
Laredo Petroleum (NYSE:LPI) opened at 15.14 on Wednesday. Laredo Petroleum has a one year low of $3.90 and a one year high of $15.39. The company has a 50-day moving average price of $13.33 and a 200-day moving average price of $11.94. The company’s market capitalization is $3.60 billion.
A number of hedge funds have recently added to or reduced their stakes in the company. Geduld E E acquired a new stake in Laredo Petroleum during the second quarter worth approximately $105,000. Visium Asset Management LP acquired a new stake in Laredo Petroleum during the second quarter worth approximately $111,000. Seven Eight Capital LLC acquired a new stake in Laredo Petroleum during the second quarter worth approximately $115,000. Jane Street Group LLC acquired a new stake in Laredo Petroleum during the second quarter worth approximately $130,000. Finally, Alambic Investment Management L.P. acquired a new stake in Laredo Petroleum during the third quarter worth approximately $141,000. 99.78% of the stock is owned by hedge funds and other institutional investors.
In other Laredo Petroleum news, VP Patrick J. Curth sold 17,000 shares of Laredo Petroleum stock in a transaction on 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 sale, 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 document filed with the Securities & Exchange Commission, which is available through this hyperlink. 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.
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