Laredo Petroleum Inc (NYSE:LPI) – Seaport Global Securities cut their Q1 2018 earnings per share estimates for shares of Laredo Petroleum in a report issued on Thursday. Seaport Global Securities analyst M. Kelly now anticipates that the oil and gas producer will earn $0.22 per share for the quarter, down from their prior forecast of $0.26. Seaport Global Securities also issued estimates for Laredo Petroleum’s Q2 2018 earnings at $0.24 EPS, Q3 2018 earnings at $0.26 EPS and FY2018 earnings at $0.97 EPS.
A number of other brokerages have also issued reports on LPI. BMO Capital Markets lowered their price target on Laredo Petroleum from $14.00 to $11.00 and set a “market perform” rating for the company in a report on Thursday, November 2nd. Zacks Investment Research lowered Laredo Petroleum from a “buy” rating to a “hold” rating in a report on Tuesday, October 31st. Williams Capital reiterated a “hold” rating and issued a $13.00 price target on shares of Laredo Petroleum in a report on Thursday, January 25th. National Securities started coverage on Laredo Petroleum in a report on Tuesday, January 16th. They issued a “buy” rating for the company. Finally, Piper Jaffray Companies reiterated a “buy” rating and issued a $16.00 price target on shares of Laredo Petroleum in a report on Tuesday, January 9th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating and six have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $13.03.
Laredo Petroleum (LPI) opened at $8.39 on Monday. Laredo Petroleum has a 12-month low of $7.41 and a 12-month high of $15.15. The stock has a market capitalization of $2,030.00, a P/E ratio of 3.68, a price-to-earnings-growth ratio of 1.67 and a beta of 1.21. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.85 and a current ratio of 0.85.
Laredo Petroleum (NYSE:LPI) last announced its earnings results on Wednesday, February 14th. The oil and gas producer reported $0.19 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate 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 during the quarter, compared to analyst estimates of $212.57 million. During the same quarter in the previous year, the business earned $0.16 earnings per share. The company’s revenue for the quarter was up 30.4% compared to the same quarter last year.
Several hedge funds have recently modified their holdings of the company. Deutsche Bank AG increased its position in shares of Laredo Petroleum by 2,834.0% in 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 period. WS Management Lllp increased its position in shares of Laredo Petroleum by 50.8% in the 3rd quarter. WS Management Lllp now owns 5,934,700 shares of the oil and gas producer’s stock valued at $76,736,000 after acquiring an additional 2,000,000 shares during the period. SailingStone Capital Partners LLC increased its position in shares of Laredo Petroleum by 3.3% in 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 period. Goldman Sachs Group Inc. increased its position in shares of Laredo Petroleum by 67.8% in 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 period. Finally, Vaughan Nelson Investment Management L.P. increased its position in shares of Laredo Petroleum by 36.8% in the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 3,886,100 shares of the oil and gas producer’s stock valued at $50,247,000 after acquiring an additional 1,044,525 shares during the period.
Laredo Petroleum declared that its board has initiated a stock repurchase plan on Wednesday, February 14th that permits the company to repurchase $200.00 million in outstanding shares. This repurchase authorization permits the oil and gas producer to purchase shares of its stock through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.
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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