Laredo Petroleum, Inc. (NYSE:LPI) - Equities researchers at Capital One Financial Corporation lowered their Q2 2017 EPS estimates for shares of Laredo Petroleum in a report issued on Thursday. Capital One Financial Corporation analyst R. Tullis now expects that the oil and gas producer will earn $0.13 per share for the quarter, down from their prior estimate of $0.14. Capital One Financial Corporation also issued estimates for Laredo Petroleum’s Q3 2017 earnings at $0.15 EPS, Q4 2017 earnings at $0.17 EPS, FY2017 earnings at $0.55 EPS and FY2018 earnings at $0.71 EPS.
Laredo Petroleum (NYSE:LPI) last released its earnings results on Wednesday, May 3rd. The oil and gas producer reported $0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.11 by $0.01. The firm had revenue of $189 million for the quarter, compared to analyst estimates of $164.39 million. Laredo Petroleum had a positive return on equity of 75.64% and a negative net margin of 1.78%. Laredo Petroleum’s revenue was up 77.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.08 earnings per share. ILLEGAL ACTIVITY NOTICE: “Capital One Financial Corporation Equities Analysts Lower Earnings Estimates for Laredo Petroleum, Inc. (LPI)” was reported by StockNewsTimes and is the sole property of of StockNewsTimes. If you are reading this report on another domain, it was illegally copied and republished in violation of U.S. and international copyright & trademark legislation. The correct version of this report can be read at https://stocknewstimes.com/2017/07/23/capital-one-financial-corporation-equities-analysts-lower-earnings-estimates-for-laredo-petroleum-inc-lpi.html.
Other equities research analysts also recently issued research reports about the company. Scotiabank restated a “hold” rating and set a $15.00 target price on shares of Laredo Petroleum in a research report on Friday, May 5th. Seaport Global Securities downgraded Laredo Petroleum from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $19.00 to $9.00 in a research report on Wednesday, June 21st. BidaskClub upgraded Laredo Petroleum from a “sell” rating to a “hold” rating in a research report on Wednesday, July 12th. J P Morgan Chase & Co dropped their target price on Laredo Petroleum from $14.00 to $13.00 and set a “neutral” rating for the company in a research report on Wednesday, May 31st. Finally, Bank of America Corporation assumed coverage on Laredo Petroleum in a research report on Wednesday. They set an “underperform” rating and a $11.00 target price for the company. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and ten have assigned a buy rating to the company’s stock. Laredo Petroleum presently has a consensus rating of “Hold” and an average target price of $14.63.
Laredo Petroleum (NYSE LPI) opened at 12.50 on Friday. The company’s 50-day moving average price is $10.97 and its 200-day moving average price is $12.90. Laredo Petroleum has a 12-month low of $9.20 and a 12-month high of $16.47. The firm’s market capitalization is $2.99 billion.
Large investors have recently added to or reduced their stakes in the stock. Two Sigma Securities LLC bought a new stake in Laredo Petroleum during the first quarter worth approximately $514,000. Norges Bank acquired a new stake in shares of Laredo Petroleum during the fourth quarter valued at about $25,204,000. Glen Harbor Capital Management LLC acquired a new stake in shares of Laredo Petroleum during the first quarter valued at about $122,000. IBM Retirement Fund increased its stake in shares of Laredo Petroleum by 313.5% in the first quarter. IBM Retirement Fund now owns 48,048 shares of the oil and gas producer’s stock valued at $702,000 after buying an additional 36,429 shares during the period. Finally, FIL Ltd acquired a new stake in shares of Laredo Petroleum during the first quarter valued at about $1,527,000.
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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