Laredo Petroleum Inc (NYSE:LPI) – Equities researchers at Seaport Global Securities increased their Q3 2018 earnings per share estimates for shares of Laredo Petroleum in a research note issued to investors on Wednesday, May 23rd. Seaport Global Securities analyst M. Kelly now forecasts that the oil and gas producer will post earnings per share of $0.31 for the quarter, up from their prior estimate of $0.28. Seaport Global Securities also issued estimates for Laredo Petroleum’s Q4 2018 earnings at $0.34 EPS, FY2018 earnings at $1.15 EPS, Q1 2019 earnings at $0.30 EPS, Q2 2019 earnings at $0.29 EPS, Q3 2019 earnings at $0.31 EPS, Q4 2019 earnings at $0.32 EPS and FY2019 earnings at $1.22 EPS.
LPI has been the topic of a number of other reports. Zacks Investment Research upgraded shares of Laredo Petroleum from a “hold” rating to a “buy” rating and set a $13.00 target price on the stock in a report on Wednesday, January 24th. ValuEngine lowered shares of Laredo Petroleum from a “sell” rating to a “strong sell” rating in a report on Wednesday, May 2nd. Stifel Nicolaus set a $15.00 price objective on shares of Laredo Petroleum and gave the stock a “buy” rating in a report on Monday, January 29th. Williams Capital set a $11.00 price objective on shares of Laredo Petroleum and gave the stock a “hold” rating in a report on Thursday, May 3rd. Finally, Stephens reiterated a “hold” rating and set a $10.00 price objective on shares of Laredo Petroleum in a report on Thursday, March 15th. Three investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and four have issued a buy rating to the company’s stock. Laredo Petroleum has an average rating of “Hold” and an average target price of $12.34.
Laredo Petroleum opened at $9.44 on Thursday, MarketBeat.com reports. The stock has a market capitalization of $2.30 billion, a price-to-earnings ratio of 15.73, a PEG ratio of 1.86 and a beta of 1.20. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.77 and a current ratio of 0.77. Laredo Petroleum has a 12-month low of $7.41 and a 12-month high of $13.46.
Laredo Petroleum (NYSE:LPI) last released its earnings results on Wednesday, May 2nd. The oil and gas producer reported $0.24 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.26 by ($0.02). The firm had revenue of $259.70 million during the quarter, compared to analysts’ expectations of $211.73 million. Laredo Petroleum had a net margin of 63.53% and a return on equity of 27.02%. Laredo Petroleum’s revenue for the quarter was up 37.4% on a year-over-year basis. During the same quarter last year, the company posted $0.10 earnings per share.
Laredo Petroleum announced that its Board of Directors has initiated a stock buyback plan on Wednesday, February 14th that permits the company to repurchase $200.00 million in shares. This repurchase authorization permits the oil and gas producer to reacquire shares of its stock through open market purchases. Shares repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.
A number of institutional investors and hedge funds have recently bought and sold shares of LPI. HRT Financial LLC acquired a new stake in Laredo Petroleum during the 4th quarter worth approximately $117,000. State of Alaska Department of Revenue acquired a new stake in Laredo Petroleum during the 4th quarter worth approximately $123,000. Elkfork Partners LLC acquired a new stake in Laredo Petroleum during the 4th quarter worth approximately $131,000. Virtu Financial LLC acquired a new stake in Laredo Petroleum in the fourth quarter valued at approximately $154,000. Finally, Sciencast Management LP acquired a new stake in Laredo Petroleum in the fourth quarter valued at approximately $165,000.
Laredo Petroleum Company Profile
Laredo Petroleum, Inc operates as an independent energy company in the United States. It operates through two segments, Exploration and Production; and Midstream and Marketing. The company engages in the acquisition, exploration, and development of oil and natural gas properties; and the transportation of oil and natural gas primarily in the Permian Basin in West Texas, as well as rig fuel, natural gas lift, and water delivery and takeaway services.
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