Q3 2018 EPS Estimates for Laredo Petroleum Inc (LPI) Raised by Analyst

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.

Earnings History and Estimates for Laredo Petroleum (NYSE:LPI)

Receive News & Ratings for Laredo Petroleum Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Laredo Petroleum and related companies with MarketBeat.com's FREE daily email newsletter.


Leave a Reply