Wall Street analysts expect Laredo Petroleum Inc (NYSE:LPI) to announce $0.20 earnings per share (EPS) for the current fiscal quarter, according to Zacks Investment Research. Five analysts have issued estimates for Laredo Petroleum’s earnings. The lowest EPS estimate is $0.05 and the highest is $0.29. Laredo Petroleum reported earnings of $0.19 per share in the same quarter last year, which indicates a positive year over year growth rate of 5.3%. The firm is scheduled to report its next quarterly earnings report after the market closes on Wednesday, February 13th.
On average, analysts expect that Laredo Petroleum will report full-year earnings of $0.96 per share for the current year, with EPS estimates ranging from $0.82 to $1.00. For the next fiscal year, analysts forecast that the business will post earnings of $0.49 per share, with EPS estimates ranging from $0.25 to $0.92. Zacks’ earnings per share calculations are an average based on a survey of sell-side research firms that that provide coverage for Laredo Petroleum.
A number of equities analysts have issued reports on the company. Williams Capital reiterated a “hold” rating and set a $8.00 target price on shares of Laredo Petroleum in a report on Tuesday, November 6th. Credit Suisse Group cut Laredo Petroleum from a “neutral” rating to an “underperform” rating in a report on Wednesday, December 19th. Robert W. Baird lowered their target price on Laredo Petroleum from $10.00 to $3.00 and set a “neutral” rating for the company in a report on Friday, January 4th. Zacks Investment Research upgraded Laredo Petroleum from a “hold” rating to a “buy” rating and set a $6.00 target price for the company in a report on Friday, October 26th. Finally, Capital One Financial cut Laredo Petroleum from an “overweight” rating to an “underweight” rating in a report on Thursday, December 20th. Four equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $8.44.
Shares of LPI traded down $0.02 during trading hours on Monday, reaching $3.44. The stock had a trading volume of 5,556,941 shares, compared to its average volume of 3,620,401. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.95. Laredo Petroleum has a 52 week low of $3.00 and a 52 week high of $11.18. The stock has a market cap of $809.23 million, a P/E ratio of 5.73 and a beta of 1.54.
Hedge funds have recently added to or reduced their stakes in the business. Marshall Wace LLP grew its holdings in shares of Laredo Petroleum by 4,925.8% in the 3rd quarter. Marshall Wace LLP now owns 2,021,572 shares of the oil and gas producer’s stock valued at $16,516,000 after acquiring an additional 1,981,348 shares in the last quarter. BlackRock Inc. grew its holdings in shares of Laredo Petroleum by 118.3% in the 3rd quarter. BlackRock Inc. now owns 22,944,636 shares of the oil and gas producer’s stock valued at $187,459,000 after acquiring an additional 12,434,795 shares in the last quarter. Key Group Holdings Cayman LTD. grew its holdings in shares of Laredo Petroleum by 17.4% in the 3rd quarter. Key Group Holdings Cayman LTD. now owns 1,681,867 shares of the oil and gas producer’s stock valued at $13,741,000 after acquiring an additional 249,585 shares in the last quarter. Legal & General Group Plc grew its holdings in shares of Laredo Petroleum by 484.1% in the 3rd quarter. Legal & General Group Plc now owns 365,054 shares of the oil and gas producer’s stock valued at $2,996,000 after acquiring an additional 302,553 shares in the last quarter. Finally, James Investment Research Inc. grew its holdings in shares of Laredo Petroleum by 11.8% in the 3rd quarter. James Investment Research Inc. now owns 344,803 shares of the oil and gas producer’s stock valued at $2,817,000 after acquiring an additional 36,441 shares in the last quarter.
About Laredo Petroleum
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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