Laredo Petroleum Inc to Post FY2018 Earnings of $1.08 Per Share, Seaport Global Securities Forecasts (LPI)

Laredo Petroleum Inc (NYSE:LPI) – Stock analysts at Seaport Global Securities lifted their FY2018 earnings per share estimates for shares of Laredo Petroleum in a research note issued on Thursday, April 19th. Seaport Global Securities analyst M. Kelly now forecasts that the oil and gas producer will earn $1.08 per share for the year, up from their prior estimate of $1.07. Seaport Global Securities also issued estimates for Laredo Petroleum’s Q2 2019 earnings at $0.28 EPS and FY2019 earnings at $1.14 EPS.

Several other brokerages have also commented on LPI. Williams Capital reiterated a “hold” rating and set a $13.00 price target on shares of Laredo Petroleum in a research note on Thursday, January 25th. Zacks Investment Research upgraded shares of Laredo Petroleum from a “hold” rating to a “buy” rating and set a $13.00 price target on the stock in a research note on Wednesday, January 24th. BMO Capital Markets reiterated a “hold” rating and set a $12.00 price target on shares of Laredo Petroleum in a research note on Thursday, January 11th. National Securities began coverage on shares of Laredo Petroleum in a research note on Tuesday, January 16th. They set a “buy” rating on the stock. Finally, Piper Jaffray reiterated a “buy” rating and set a $16.00 price target on shares of Laredo Petroleum in a research note on Tuesday, January 9th. Three analysts have rated the stock with a sell rating, eleven have issued a hold rating and six have assigned a buy rating to the company. Laredo Petroleum currently has a consensus rating of “Hold” and a consensus price target of $12.56.

Shares of NYSE:LPI opened at $10.56 on Monday. Laredo Petroleum has a 12 month low of $7.41 and a 12 month high of $13.57. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.03. The firm has a market cap of $2,498.11, a P/E ratio of 17.60, a P/E/G ratio of 1.97 and a beta of 1.22.

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 (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.18 by $0.01. Laredo Petroleum had a net margin of 66.77% and a return on equity of 30.02%. The business had revenue of $240.34 million during the quarter, compared to analysts’ expectations of $212.57 million. During the same period in the previous year, the company earned $0.16 EPS. The company’s revenue for the quarter was up 30.4% on a year-over-year basis.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Ashburton Jersey Ltd increased its stake in Laredo Petroleum by 46.7% in the fourth quarter. Ashburton Jersey Ltd now owns 190,660 shares of the oil and gas producer’s stock valued at $2,023,000 after purchasing an additional 60,700 shares during the period. Jane Street Group LLC increased its stake in Laredo Petroleum by 436.2% in the fourth quarter. Jane Street Group LLC now owns 68,915 shares of the oil and gas producer’s stock valued at $731,000 after purchasing an additional 89,415 shares during the period. Sciencast Management LP acquired a new position in Laredo Petroleum in the fourth quarter valued at $165,000. Elkfork Partners LLC acquired a new position in Laredo Petroleum in the fourth quarter valued at $131,000. Finally, HBK Investments L P increased its stake in Laredo Petroleum by 340.6% in the fourth quarter. HBK Investments L P now owns 277,200 shares of the oil and gas producer’s stock valued at $2,941,000 after purchasing an additional 214,288 shares during the period.

Laredo Petroleum declared that its board has approved a share repurchase plan on Wednesday, February 14th that allows the company to repurchase $200.00 million in outstanding shares. This repurchase authorization allows the oil and gas producer to repurchase shares of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board believes its stock is undervalued.

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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.

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

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