Laredo Petroleum, Inc. (NYSE:LPI) – Analysts at Seaport Global Securities upped their Q1 2018 earnings per share estimates for Laredo Petroleum in a report released on Tuesday. Seaport Global Securities analyst M. Kelly now expects that the oil and gas producer will earn $0.10 per share for the quarter, up from their prior forecast of $0.07. Seaport Global Securities has a “Neutral” rating and a $9.50 price target on the stock. Seaport Global Securities also issued estimates for Laredo Petroleum’s Q2 2018 earnings at $0.11 EPS, Q3 2018 earnings at $0.13 EPS, Q4 2018 earnings at $0.13 EPS and FY2018 earnings at $0.47 EPS.
Other equities analysts have also issued reports about the company. Scotiabank set a $13.00 price objective on Laredo Petroleum and gave the company a “hold” rating in a research note on Saturday, July 1st. BidaskClub raised Laredo Petroleum from a “sell” rating to a “hold” rating in a research note on Wednesday, July 12th. BMO Capital Markets set a $14.00 price target on Laredo Petroleum and gave the stock a “hold” rating in a research report on Sunday, August 13th. Williams Capital boosted their price target on Laredo Petroleum from $13.00 to $14.00 and gave the stock a “hold” rating in a research report on Wednesday. Finally, Zacks Investment Research lowered Laredo Petroleum from a “hold” rating to a “sell” rating in a research report on Thursday, August 10th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and nine have given a buy rating to the stock. Laredo Petroleum presently has a consensus rating of “Hold” and a consensus target price of $14.64.
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Shares of Laredo Petroleum (NYSE LPI) traded down 0.16% during mid-day trading on Wednesday, hitting $12.39. 460,998 shares of the stock traded hands. The stock has a 50 day moving average price of $12.52 and a 200-day moving average price of $12.27. The company has a market cap of $2.96 billion, a P/E ratio of 25.03 and a beta of 1.45. Laredo Petroleum has a one year low of $9.57 and a one year high of $16.47.
Laredo Petroleum (NYSE:LPI) last issued its quarterly earnings results on Monday, August 7th. The oil and gas producer reported $0.10 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.11 by ($0.01). The business had revenue of $187.00 million for the quarter, compared to analyst estimates of $173.32 million. Laredo Petroleum had a return on equity of 49.15% and a net margin of 16.73%. The firm’s revenue for the quarter was up 27.5% compared to the same quarter last year. During the same period in the prior year, the company posted $0.13 EPS.
Hedge funds have recently made changes to their positions in the business. Credit Suisse AG boosted its position in Laredo Petroleum by 189.6% during the 1st quarter. Credit Suisse AG now owns 349,708 shares of the oil and gas producer’s stock worth $5,105,000 after acquiring an additional 228,946 shares during the period. Prudential Financial Inc. lifted its holdings in shares of Laredo Petroleum by 108.5% in the second quarter. Prudential Financial Inc. now owns 1,354,512 shares of the oil and gas producer’s stock valued at $14,249,000 after buying an additional 704,874 shares during the period. Bank of Montreal Can lifted its holdings in shares of Laredo Petroleum by 18.4% in the second quarter. Bank of Montreal Can now owns 1,027,804 shares of the oil and gas producer’s stock valued at $10,813,000 after buying an additional 159,472 shares during the period. Sei Investments Co. lifted its holdings in shares of Laredo Petroleum by 21.7% in the second quarter. Sei Investments Co. now owns 382,825 shares of the oil and gas producer’s stock valued at $4,027,000 after buying an additional 68,320 shares during the period. Finally, Schwab Charles Investment Management Inc. lifted its holdings in shares of Laredo Petroleum by 17.7% in the first quarter. Schwab Charles Investment Management Inc. now owns 501,560 shares of the oil and gas producer’s stock valued at $7,323,000 after buying an additional 75,445 shares during the period.
About Laredo Petroleum
Laredo Petroleum, Inc (Laredo) is an independent energy company. The Company is 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. It operates through two segments: Exploration and production of oil and natural gas properties, and Midstream and marketing.
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