Laredo Petroleum Inc (NYSE:LPI) – Research analysts at Capital One lifted their Q2 2018 earnings estimates for shares of Laredo Petroleum in a research report issued on Thursday, April 12th, according to Zacks Investment Research. Capital One analyst R. Tullis now anticipates that the oil and gas producer will earn $0.29 per share for the quarter, up from their previous estimate of $0.28. Capital One also issued estimates for Laredo Petroleum’s FY2018 earnings at $1.14 EPS.
Laredo Petroleum (NYSE:LPI) last released its quarterly earnings data on Wednesday, February 14th. The oil and gas producer reported $0.19 earnings per share for the quarter, beating the consensus estimate of $0.18 by $0.01. The firm had revenue of $240.34 million during the quarter, compared to the consensus estimate of $212.57 million. Laredo Petroleum had a return on equity of 30.02% and a net margin of 66.77%. The firm’s quarterly revenue was up 30.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.16 earnings per share.
Shares of Laredo Petroleum stock opened at $10.56 on Monday. The stock has a market capitalization of $2,498.11, a price-to-earnings ratio of 19.81, a PEG ratio of 1.97 and a beta of 1.22. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.03. Laredo Petroleum has a one year low of $7.41 and a one year high of $13.57.
Hedge funds have recently modified their holdings of the company. HBK Investments L P grew its stake in shares of Laredo Petroleum by 340.6% during the fourth quarter. HBK Investments L P now owns 277,200 shares of the oil and gas producer’s stock worth $2,941,000 after acquiring an additional 214,288 shares during the last quarter. Capital Fund Management S.A. boosted its position in Laredo Petroleum by 1,247.9% in the fourth quarter. Capital Fund Management S.A. now owns 501,419 shares of the oil and gas producer’s stock valued at $5,320,000 after buying an additional 464,219 shares during the last quarter. Legal & General Group Plc boosted its position in Laredo Petroleum by 18.4% in the third quarter. Legal & General Group Plc now owns 62,768 shares of the oil and gas producer’s stock valued at $812,000 after buying an additional 9,754 shares during the last quarter. Virtu Financial LLC purchased a new stake in Laredo Petroleum in the fourth quarter valued at approximately $154,000. Finally, BlackRock Inc. boosted its position in Laredo Petroleum by 3.3% in the fourth quarter. BlackRock Inc. now owns 6,832,585 shares of the oil and gas producer’s stock valued at $72,492,000 after buying an additional 220,428 shares during the last quarter.
Laredo Petroleum announced that its Board of Directors has approved a share buyback plan on Wednesday, February 14th that permits the company to repurchase $200.00 million in outstanding shares. This repurchase authorization permits the oil and gas producer to buy shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.
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.
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