$257.69 Million in Sales Expected for Laredo Petroleum Inc (LPI) This Quarter

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.

Further Reading: Investing in Growth Stocks

Get a free copy of the Zacks research report on Laredo Petroleum (LPI)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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