Laredo Petroleum, Inc. Expected to Earn Q1 2018 Earnings of $0.10 Per Share (LPI)
Laredo Petroleum, Inc. (NYSE:LPI) – Stock analysts at Seaport Global Securities boosted their Q1 2018 earnings per share (EPS) estimates for shares of Laredo Petroleum in a research report issued on Tuesday. Seaport Global Securities analyst M. Kelly now forecasts that the oil and gas producer will post earnings of $0.10 per share for the quarter, up from their previous forecast of $0.07. Seaport Global Securities currently has a “Neutral” rating and a $9.50 price target on the stock. Seaport Global Securities also issued estimates for Laredo Petroleum’s Q2 2018 earnings at $0.11 EPS, Q3 2018 earnings at $0.13 EPS, Q4 2018 earnings at $0.13 EPS and FY2018 earnings at $0.47 EPS.
Laredo Petroleum (NYSE:LPI) last released its earnings results on Monday, August 7th. The oil and gas producer reported $0.10 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.11 by ($0.01). The firm had revenue of $187.00 million during the quarter, compared to the consensus estimate of $173.32 million. Laredo Petroleum had a return on equity of 49.15% and a net margin of 16.73%. The business’s quarterly revenue was up 27.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.13 EPS. WARNING: This story was posted by Watch List News and is the sole property of of Watch List News. If you are viewing this story on another domain, it was stolen and reposted in violation of United States and international trademark and copyright laws. The original version of this story can be accessed at https://www.watchlistnews.com/laredo-petroleum-inc-expected-to-earn-q1-2018-earnings-of-0-10-per-share-lpi/1641501.html.
Other equities research analysts have also issued reports about the company. Zacks Investment Research raised Laredo Petroleum from a “sell” rating to a “hold” rating in a research note on Tuesday, August 1st. BMO Capital Markets set a $14.00 price objective on Laredo Petroleum and gave the company a “hold” rating in a research note on Tuesday, October 10th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $17.00 price objective on shares of Laredo Petroleum in a research note on Wednesday, October 4th. KeyCorp reaffirmed a “hold” rating on shares of Laredo Petroleum in a research note on Friday, September 1st. Finally, Williams Capital raised their price objective on Laredo Petroleum from $13.00 to $14.00 and gave the company a “hold” rating in a research note on Wednesday. Two analysts have rated the stock with a sell rating, ten have given a hold rating and nine have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $14.64.
Laredo Petroleum (NYSE:LPI) traded down 4.139% during mid-day trading on Wednesday, reaching $11.695. The company had a trading volume of 1,188,505 shares. The company has a market capitalization of $2.80 billion, a PE ratio of 23.626 and a beta of 1.45. The firm has a 50-day moving average of $12.55 and a 200 day moving average of $12.25. Laredo Petroleum has a 1-year low of $9.57 and a 1-year high of $16.47.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Credit Suisse AG increased its holdings in Laredo Petroleum by 189.6% during the 1st quarter. Credit Suisse AG now owns 349,708 shares of the oil and gas producer’s stock worth $5,105,000 after purchasing an additional 228,946 shares during the period. Prudential Financial Inc. increased its holdings in Laredo Petroleum by 108.5% during the 2nd quarter. Prudential Financial Inc. now owns 1,354,512 shares of the oil and gas producer’s stock worth $14,249,000 after purchasing an additional 704,874 shares during the period. Bank of Montreal Can increased its holdings in Laredo Petroleum by 18.4% during the 2nd quarter. Bank of Montreal Can now owns 1,027,804 shares of the oil and gas producer’s stock worth $10,813,000 after purchasing an additional 159,472 shares during the period. Sei Investments Co. increased its holdings in Laredo Petroleum by 21.7% during the 2nd quarter. Sei Investments Co. now owns 382,825 shares of the oil and gas producer’s stock worth $4,027,000 after purchasing an additional 68,320 shares during the period. Finally, Schwab Charles Investment Management Inc. increased its holdings in Laredo Petroleum by 17.7% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 501,560 shares of the oil and gas producer’s stock worth $7,323,000 after purchasing an additional 75,445 shares during the period.
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.
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