Q3 2017 EPS Estimates for Laredo Petroleum, Inc. (LPI) Raised by Analyst

Laredo Petroleum, Inc. (NYSE:LPI) – Investment analysts at KeyCorp raised their Q3 2017 earnings per share (EPS) estimates for shares of Laredo Petroleum in a research report issued to clients and investors on Monday. KeyCorp analyst C. Stevens now anticipates that the oil and gas producer will post earnings per share of $0.14 for the quarter, up from their previous estimate of $0.13. KeyCorp also issued estimates for Laredo Petroleum’s FY2018 earnings at $0.60 EPS.

LPI has been the subject of several other reports. Scotiabank reaffirmed a “hold” rating and issued a $15.00 price objective on shares of Laredo Petroleum in a research report on Monday, May 15th. FBR & Co reissued a “buy” rating and set a $16.00 price target on shares of Laredo Petroleum in a research report on Friday, May 12th. Stifel Nicolaus reissued a “buy” rating and set a $17.00 price target on shares of Laredo Petroleum in a research report on Friday, July 14th. BMO Capital Markets reissued a “hold” rating and set a $10.00 price target on shares of Laredo Petroleum in a research report on Tuesday, June 27th. Finally, Cowen and Company set a $12.00 price target on shares of Laredo Petroleum and gave the stock a “hold” rating in a research report on Tuesday, July 18th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and ten have issued a buy rating to the company. Laredo Petroleum presently has a consensus rating of “Hold” and a consensus price target of $14.63.

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Shares of Laredo Petroleum (NYSE:LPI) opened at 12.34 on Thursday. Laredo Petroleum has a 12 month low of $9.57 and a 12 month high of $16.47. The company’s 50-day moving average is $11.56 and its 200 day moving average is $12.73. The company has a market capitalization of $2.95 billion, a price-to-earnings ratio of 24.93 and a beta of 1.41.

Laredo Petroleum (NYSE:LPI) last announced its earnings results on Monday, August 7th. The oil and gas producer reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.11 by $0.01. The business had revenue of $187 million for the quarter, compared to the consensus estimate of $173.32 million. Laredo Petroleum had a net margin of 16.73% and a return on equity of 49.15%. The business’s quarterly revenue was up 27.5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.13 earnings per share.

Several large investors have recently modified their holdings of LPI. Evanson Asset Management LLC purchased a new stake in shares of Laredo Petroleum during the second quarter worth approximately $108,000. Quantbot Technologies LP purchased a new stake in shares of Laredo Petroleum during the first quarter worth approximately $114,000. Meeder Asset Management Inc. boosted its stake in shares of Laredo Petroleum by 282.5% in the first quarter. Meeder Asset Management Inc. now owns 8,093 shares of the oil and gas producer’s stock worth $118,000 after buying an additional 5,977 shares during the last quarter. Glen Harbor Capital Management LLC purchased a new stake in shares of Laredo Petroleum during the first quarter worth approximately $122,000. Finally, Teacher Retirement System of Texas boosted its stake in shares of Laredo Petroleum by 3.8% in the second quarter. Teacher Retirement System of Texas now owns 12,884 shares of the oil and gas producer’s stock worth $136,000 after buying an additional 468 shares during the last quarter.

Laredo Petroleum Company Profile

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.

Earnings History and Estimates for Laredo Petroleum (NYSE:LPI)

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