Equities analysts expect Laredo Petroleum Inc (NYSE:LPI) to announce earnings of $0.24 per share for the current quarter, according to Zacks. Six analysts have made estimates for Laredo Petroleum’s earnings, with the highest EPS estimate coming in at $0.31 and the lowest estimate coming in at $0.21. Laredo Petroleum posted earnings of $0.10 per share in the same quarter last year, which suggests a positive year-over-year growth rate of 140%. The business is scheduled to report its next quarterly earnings report on Wednesday, May 2nd.
On average, analysts expect that Laredo Petroleum will report full year earnings of $1.01 per share for the current financial year, with EPS estimates ranging from $0.74 to $1.45. For the next fiscal year, analysts expect that the firm will post earnings of $1.16 per share, with EPS estimates ranging from $0.91 to $1.77. Zacks’ earnings per share averages are an average based on a survey of analysts that that provide coverage for Laredo Petroleum.
Laredo Petroleum (NYSE:LPI) last released its earnings results on Wednesday, February 14th. The oil and gas producer reported $0.19 earnings per share for the quarter, topping analysts’ consensus estimates of $0.18 by $0.01. Laredo Petroleum had a return on equity of 30.02% and a net margin of 66.77%. The business had revenue of $240.34 million for the quarter, compared to the consensus estimate of $212.57 million. During the same period last year, the business earned $0.16 earnings per share. The firm’s revenue for the quarter was up 30.4% compared to the same quarter last year.
LPI has been the topic of a number of recent research reports. Piper Jaffray reaffirmed a “buy” rating and set a $16.00 price objective on shares of Laredo Petroleum in a report on Tuesday, January 9th. Zacks Investment Research raised Laredo Petroleum from a “hold” rating to a “buy” rating and set a $13.00 price objective on the stock in a report on Wednesday, January 24th. National Securities initiated coverage on Laredo Petroleum in a report on Tuesday, January 16th. They set a “buy” rating on the stock. Stifel Nicolaus set a $15.00 price objective on Laredo Petroleum and gave the company a “buy” rating in a report on Monday, January 29th. Finally, Robert W. Baird set a $12.00 price objective on Laredo Petroleum and gave the company a “buy” rating in a report on Monday, April 2nd. Three investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $12.56.
A number of hedge funds have recently bought and sold shares of the stock. Deutsche Bank AG raised its position in shares of Laredo Petroleum by 2,834.0% during the 4th quarter. Deutsche Bank AG now owns 3,431,666 shares of the oil and gas producer’s stock valued at $36,406,000 after acquiring an additional 3,314,704 shares during the last quarter. SailingStone Capital Partners LLC raised its position in shares of Laredo Petroleum by 3.3% during the 4th quarter. SailingStone Capital Partners LLC now owns 39,629,061 shares of the oil and gas producer’s stock valued at $420,464,000 after acquiring an additional 1,251,905 shares during the last quarter. Goldman Sachs Group Inc. raised its position in shares of Laredo Petroleum by 67.8% during the 4th quarter. Goldman Sachs Group Inc. now owns 2,955,803 shares of the oil and gas producer’s stock valued at $31,361,000 after acquiring an additional 1,194,099 shares during the last quarter. Channing Capital Management LLC raised its position in shares of Laredo Petroleum by 37.1% during the 4th quarter. Channing Capital Management LLC now owns 3,260,794 shares of the oil and gas producer’s stock valued at $34,597,000 after acquiring an additional 882,822 shares during the last quarter. Finally, SIR Capital Management L.P. bought a new stake in shares of Laredo Petroleum during the 4th quarter valued at $6,589,000.
LPI stock traded up $0.19 during trading on Wednesday, reaching $8.76. 1,086,788 shares of the stock were exchanged, compared to its average volume of 3,257,756. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.03. The company has a market cap of $2,078.52, a PE ratio of 14.59, a price-to-earnings-growth ratio of 1.69 and a beta of 1.22. Laredo Petroleum has a twelve month low of $7.41 and a twelve month high of $15.11.
Laredo Petroleum declared that its board has authorized a stock repurchase program on Wednesday, February 14th that authorizes the company to repurchase $200.00 million in shares. This repurchase authorization authorizes the oil and gas producer to buy shares of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.
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Laredo Petroleum Company Profile
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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