Laredo Petroleum Inc (NYSE:LPI) – Equities research analysts at Piper Jaffray Companies raised their Q1 2020 earnings per share (EPS) estimates for Laredo Petroleum in a research note issued to investors on Monday, March 18th. Piper Jaffray Companies analyst K. Harrison now expects that the oil and gas producer will post earnings of $0.16 per share for the quarter, up from their previous forecast of $0.10. Piper Jaffray Companies currently has a “Neutral” rating on the stock.

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

LPI has been the subject of several other research reports. MKM Partners initiated coverage on Laredo Petroleum in a report on Wednesday, December 5th. They issued a “buy” rating and a $9.00 price objective for the company. Raymond James set a $5.00 price objective on Laredo Petroleum and gave the stock a “buy” rating in a report on Wednesday, January 23rd. Williams Capital set a $6.00 price objective on Laredo Petroleum and gave the stock a “hold” rating in a report on Wednesday, December 12th. Zacks Investment Research lowered Laredo Petroleum from a “hold” rating to a “sell” rating in a research report on Wednesday, December 12th. Finally, Robert W. Baird decreased their target price on Laredo Petroleum from $10.00 to $3.00 and set a “neutral” rating for the company in a research report on Friday, January 4th. Four analysts have rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $6.71.

NYSE LPI opened at $3.28 on Wednesday. Laredo Petroleum has a fifty-two week low of $2.80 and a fifty-two week high of $11.18. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.96 and a quick ratio of 0.96. The company has a market capitalization of $720.47 million, a price-to-earnings ratio of 3.53 and a beta of 1.49.

Several large investors have recently made changes to their positions in LPI. Pearl River Capital LLC bought a new position in Laredo Petroleum during the 4th quarter valued at approximately $35,000. Pitcairn Co. bought a new position in Laredo Petroleum during the 4th quarter valued at approximately $42,000. Shelton Capital Management bought a new position in Laredo Petroleum during the 4th quarter valued at approximately $56,000. Oregon Public Employees Retirement Fund bought a new position in Laredo Petroleum during the 4th quarter valued at approximately $58,000. Finally, PNC Financial Services Group Inc. increased its position in Laredo Petroleum by 155.6% during the 4th quarter. PNC Financial Services Group Inc. now owns 18,773 shares of the oil and gas producer’s stock valued at $67,000 after buying an additional 11,427 shares in the last quarter.

Laredo Petroleum Company Profile

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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