Analysts predict that Laredo Petroleum Inc (NYSE:LPI) will post sales of $257.69 million for the current quarter, according to Zacks. Six analysts have issued estimates for Laredo Petroleum’s earnings. The highest sales estimate is $361.21 million and the lowest is $219.20 million. Laredo Petroleum posted sales of $205.82 million during the same quarter last year, which suggests a positive year-over-year growth rate of 25.2%. The firm is expected to report its next earnings report on Wednesday, November 7th.
On average, analysts expect that Laredo Petroleum will report full-year sales of $1.03 billion for the current fiscal year, with estimates ranging from $842.00 million to $1.34 billion. For the next year, analysts anticipate that the company will post sales of $1.11 billion per share, with estimates ranging from $938.92 million to $1.51 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that follow Laredo Petroleum.
Laredo Petroleum (NYSE:LPI) last released its quarterly earnings results on Wednesday, August 1st. The oil and gas producer reported $0.25 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.29 by ($0.04). The firm had revenue of $351.05 million for the quarter, compared to analyst estimates of $225.75 million. Laredo Petroleum had a return on equity of 25.80% and a net margin of 51.05%. The business’s revenue for the quarter was up 87.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.10 earnings per share.
Several equities analysts have weighed in on the company. Piper Jaffray Companies set a $14.00 price objective on Laredo Petroleum and gave the company a “buy” rating in a report on Sunday, August 5th. Bank of America dropped their price objective on Laredo Petroleum from $12.00 to $11.00 and set an “underperform” rating for the company in a report on Thursday, August 2nd. Tudor Pickering cut Laredo Petroleum from a “buy” rating to a “hold” rating in a report on Thursday, May 10th. Williams Capital set a $11.00 price objective on Laredo Petroleum and gave the company a “hold” rating in a report on Thursday, May 3rd. Finally, Robert W. Baird cut Laredo Petroleum from an “outperform” rating to a “neutral” rating in a report on Thursday, May 3rd. Three analysts have rated the stock with a sell rating, twelve have given a hold rating and four have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $12.28.
Several institutional investors and hedge funds have recently modified their holdings of LPI. BlackRock Inc. increased its stake in shares of Laredo Petroleum by 60.3% in the 2nd quarter. BlackRock Inc. now owns 10,509,841 shares of the oil and gas producer’s stock valued at $101,104,000 after purchasing an additional 3,954,104 shares during the last quarter. LSV Asset Management increased its stake in shares of Laredo Petroleum by 267.0% in the 2nd quarter. LSV Asset Management now owns 3,452,709 shares of the oil and gas producer’s stock valued at $33,215,000 after purchasing an additional 2,512,009 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Laredo Petroleum by 52.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 7,234,971 shares of the oil and gas producer’s stock valued at $69,599,000 after purchasing an additional 2,487,113 shares during the last quarter. Thompson Siegel & Walmsley LLC bought a new position in shares of Laredo Petroleum in the 2nd quarter valued at $17,730,000. Finally, Wells Fargo & Company MN increased its stake in shares of Laredo Petroleum by 384.1% in the 1st quarter. Wells Fargo & Company MN now owns 1,475,694 shares of the oil and gas producer’s stock valued at $12,853,000 after purchasing an additional 1,170,838 shares during the last quarter.
NYSE LPI traded up $0.06 during midday trading on Friday, hitting $8.46. The company had a trading volume of 2,506,143 shares, compared to its average volume of 3,486,733. The stock has a market capitalization of $1.98 billion, a PE ratio of 14.10, a P/E/G ratio of 1.51 and a beta of 1.11. The company has a debt-to-equity ratio of 0.94, a current ratio of 0.60 and a quick ratio of 0.60. Laredo Petroleum has a twelve month low of $7.41 and a twelve month high of $13.40.
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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