Laredo Petroleum (NYSE:LPI) announced its quarterly earnings data on Tuesday. The oil and gas producer reported $0.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.19 by $0.02, Briefing.com reports. The company had revenue of $193.57 million for the quarter, compared to analysts’ expectations of $215.83 million. Laredo Petroleum had a net margin of 5.87% and a return on equity of 13.81%. During the same period in the previous year, the company posted $0.27 EPS.
Shares of NYSE:LPI traded down $0.01 on Friday, reaching $2.58. 58,145 shares of the company were exchanged, compared to its average volume of 4,698,801. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.77. Laredo Petroleum has a 1-year low of $2.03 and a 1-year high of $5.98. The firm has a market cap of $612.67 million, a price-to-earnings ratio of 2.78 and a beta of 1.62. The company has a 50-day moving average of $2.38 and a 200-day moving average of $2.76.
In other news, major shareholder Warburg Pincus Llc sold 69,874 shares of the company’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $2.76, for a total transaction of $192,852.24. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 3.00% of the company’s stock.
Several brokerages have issued reports on LPI. Zacks Investment Research cut shares of Laredo Petroleum from a “buy” rating to a “hold” rating in a research note on Wednesday, October 16th. JPMorgan Chase & Co. raised shares of Laredo Petroleum from an “underweight” rating to a “neutral” rating in a research note on Wednesday, July 31st. Williams Capital set a $4.50 price objective on shares of Laredo Petroleum and gave the company a “buy” rating in a research note on Tuesday, October 15th. Finally, ValuEngine cut shares of Laredo Petroleum from a “sell” rating to a “strong sell” rating in a research note on Friday, November 1st. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $4.55.
About Laredo Petroleum
Laredo Petroleum, Inc, an independent energy company, engages in the acquisition, exploration, and development of oil and natural gas properties in the Permian Basin of West Texas, the United States. The company also provides midstream and marketing services comprising transportation and marketing of oil and natural gas; and natural gas lift systems, crude oil and natural gas gathering, and water delivery and takeaway services.
Featured Story: What are momentum indicators and what do they show?
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.