Laredo Petroleum Inc (NYSE:LPI) – Stock analysts at Capital One Financial decreased their Q2 2020 earnings per share estimates for shares of Laredo Petroleum in a research note issued to investors on Wednesday, June 24th. Capital One Financial analyst R. Tullis now expects that the oil and gas producer will post earnings per share of $1.23 for the quarter, down from their prior forecast of $1.40. Capital One Financial currently has a “Overweight” rating and a $30.00 target price on the stock. Capital One Financial also issued estimates for Laredo Petroleum’s Q3 2020 earnings at $1.32 EPS.
Laredo Petroleum (NYSE:LPI) last posted its quarterly earnings data on Wednesday, May 6th. The oil and gas producer reported $1.80 earnings per share for the quarter, missing the Zacks’ consensus estimate of $2.00 by ($0.20). Laredo Petroleum had a negative net margin of 11.74% and a positive return on equity of 15.20%. The firm had revenue of $204.99 million for the quarter, compared to the consensus estimate of $184.46 million.
A number of other research analysts have also weighed in on the company. Zacks Investment Research upgraded Laredo Petroleum from a “hold” rating to a “buy” rating and set a $17.00 price objective on the stock in a report on Tuesday, June 23rd. Siebert Williams Shank restated a “hold” rating and issued a $14.00 price objective on shares of Laredo Petroleum in a report on Tuesday, June 2nd. Wells Fargo & Co boosted their price objective on shares of Laredo Petroleum from $20.00 to $21.00 and gave the company an “equal weight” rating in a report on Thursday, June 25th. ValuEngine raised Laredo Petroleum from a “sell” rating to a “hold” rating in a research report on Wednesday, June 3rd. Finally, MKM Partners lifted their target price on Laredo Petroleum from $32.00 to $36.00 in a research report on Wednesday, June 3rd. One analyst has rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $46.29.
Shares of NYSE LPI opened at $13.86 on Monday. The firm’s 50 day simple moving average is $16.72 and its 200-day simple moving average is $26.00. Laredo Petroleum has a 12 month low of $6.60 and a 12 month high of $68.50. The stock has a market capitalization of $161.12 million, a price-to-earnings ratio of -1.65 and a beta of 4.22. The company has a debt-to-equity ratio of 1.18, a current ratio of 2.30 and a quick ratio of 2.30.
A number of institutional investors and hedge funds have recently made changes to their positions in LPI. Acadian Asset Management LLC acquired a new position in Laredo Petroleum in the fourth quarter valued at approximately $25,000. L & S Advisors Inc acquired a new position in Laredo Petroleum in the first quarter valued at approximately $30,000. Two Sigma Securities LLC acquired a new position in Laredo Petroleum in the first quarter valued at approximately $34,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its holdings in Laredo Petroleum by 48.4% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 90,674 shares of the oil and gas producer’s stock valued at $34,000 after purchasing an additional 29,575 shares in the last quarter. Finally, Cetera Investment Advisers acquired a new position in Laredo Petroleum in the first quarter valued at approximately $38,000. 84.01% of the stock is owned by hedge funds and other institutional investors.
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.
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