Laredo Petroleum, Inc. (NYSE:LPI) – Analysts at Capital One Financial Corporation dropped their Q2 2017 earnings per share estimates for shares of Laredo Petroleum in a research note issued to investors on Thursday. Capital One Financial Corporation analyst R. Tullis now expects that the oil and gas producer will post earnings per share of $0.13 for the quarter, down from their prior forecast of $0.14. Capital One Financial Corporation also issued estimates for Laredo Petroleum’s Q3 2017 earnings at $0.15 EPS, Q4 2017 earnings at $0.17 EPS, FY2017 earnings at $0.55 EPS and FY2018 earnings at $0.71 EPS.
Laredo Petroleum (NYSE:LPI) last posted its earnings results on Wednesday, May 3rd. The oil and gas producer reported $0.10 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.11 by $0.01. The firm had revenue of $189 million for the quarter, compared to analysts’ expectations of $164.39 million. Laredo Petroleum had a positive return on equity of 75.64% and a negative net margin of 1.78%. The business’s revenue for the quarter was up 77.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.08 earnings per share.
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Several other equities research analysts have also recently issued reports on the stock. Scotiabank set a $15.00 price objective on shares of Laredo Petroleum and gave the company a “hold” rating in a research report on Monday, March 27th. Credit Suisse Group AG reissued an “underperform” rating and issued a $15.00 price objective on shares of Laredo Petroleum in a research report on Friday, June 2nd. J P Morgan Chase & Co lowered their price objective on shares of Laredo Petroleum from $14.00 to $13.00 and set a “neutral” rating for the company in a research report on Wednesday, May 31st. Williams Capital set a $16.00 price objective on shares of Laredo Petroleum and gave the company a “hold” rating in a research report on Thursday, May 4th. Finally, Seaport Global Securities cut shares of Laredo Petroleum from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $19.00 to $9.00 in a research report on Wednesday, June 21st. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and ten have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $14.63.
Shares of Laredo Petroleum (LPI) opened at 12.50 on Friday. Laredo Petroleum has a 12-month low of $9.20 and a 12-month high of $16.47. The stock’s 50 day moving average is $10.97 and its 200-day moving average is $12.90. The stock’s market capitalization is $2.99 billion.
Several large investors have recently made changes to their positions in the company. BlackRock Inc. boosted its stake in shares of Laredo Petroleum by 2,500.3% in the first quarter. BlackRock Inc. now owns 7,598,973 shares of the oil and gas producer’s stock valued at $110,946,000 after buying an additional 7,306,738 shares during the last quarter. Vanguard Group Inc. raised its position in Laredo Petroleum by 20.9% in the first quarter. Vanguard Group Inc. now owns 14,906,724 shares of the oil and gas producer’s stock valued at $217,638,000 after buying an additional 2,578,127 shares during the period. Point72 Asset Management L.P. raised its position in Laredo Petroleum by 150.2% in the first quarter. Point72 Asset Management L.P. now owns 3,748,400 shares of the oil and gas producer’s stock valued at $54,727,000 after buying an additional 2,250,300 shares during the period. Norges Bank purchased a new position in Laredo Petroleum during the fourth quarter valued at approximately $25,204,000. Finally, Impala Asset Management LLC raised its position in Laredo Petroleum by 144.6% in the first quarter. Impala Asset Management LLC now owns 2,955,195 shares of the oil and gas producer’s stock valued at $43,146,000 after buying an additional 1,746,915 shares during the period.
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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