Q1 2017 Earnings Forecast for Laredo Petroleum Inc. Issued By KeyCorp (LPI)
Laredo Petroleum Inc. (NYSE:LPI) – KeyCorp issued their Q1 2017 earnings estimates for shares of Laredo Petroleum in a research report issued to clients and investors on Tuesday. KeyCorp analyst C. Stevens expects that the firm will earn $0.10 per share for the quarter. KeyCorp also issued estimates for Laredo Petroleum’s Q2 2017 earnings at $0.11 EPS, Q3 2017 earnings at $0.13 EPS and Q4 2017 earnings at $0.15 EPS.
Other equities research analysts have also recently issued reports about the stock. Barclays PLC reaffirmed a “buy” rating and issued a $16.00 target price on shares of Laredo Petroleum in a report on Wednesday, November 16th. Zacks Investment Research raised shares of Laredo Petroleum from a “hold” rating to a “buy” rating and set a $15.00 target price for the company in a report on Wednesday, October 5th. Williams Capital initiated coverage on shares of Laredo Petroleum in a report on Monday, August 29th. They issued a “hold” rating and a $14.00 target price for the company. KLR Group upped their target price on shares of Laredo Petroleum from $11.00 to $13.00 and gave the company a “hold” rating in a report on Thursday, September 8th. Finally, JPMorgan Chase & Co. reaffirmed a “hold” rating on shares of Laredo Petroleum in a report on Thursday, November 3rd. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and seven have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $12.33.
Laredo Petroleum (NYSE:LPI) opened at 14.72 on Thursday. The firm has a 50-day moving average of $13.36 and a 200-day moving average of $11.97. Laredo Petroleum has a 1-year low of $3.90 and a 1-year high of $15.39. The stock’s market capitalization is $3.50 billion.
Laredo Petroleum (NYSE:LPI) last released its earnings results on Wednesday, November 2nd. The company reported $0.12 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.12. Laredo Petroleum had a negative net margin of 225.04% and a positive return on equity of 123.07%. The business had revenue of $159.70 million for the quarter, compared to analyst estimates of $150.09 million. During the same period last year, the company posted $0.07 EPS. The business’s revenue was up 6.3% on a year-over-year basis.
A number of hedge funds and other institutional investors have recently modified their holdings of LPI. Geduld E E bought a new position in shares of Laredo Petroleum during the second quarter valued at $105,000. Visium Asset Management LP acquired a new stake in shares of Laredo Petroleum during the second quarter valued at about $111,000. Alambic Investment Management L.P. acquired a new stake in shares of Laredo Petroleum during the third quarter valued at about $141,000. Seven Eight Capital LLC acquired a new stake in shares of Laredo Petroleum during the second quarter valued at about $115,000. Finally, TradeLink Capital LLC acquired a new stake in shares of Laredo Petroleum during the third quarter valued at about $156,000. Institutional investors own 99.78% of the company’s stock.
In other Laredo Petroleum news, VP Patrick J. Curth sold 17,000 shares of the company’s 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 transaction, the vice president now directly owns 172,926 shares in the company, valued at $2,173,679.82. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.50% of the company’s stock.
About Laredo Petroleum
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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