Laredo Petroleum, Inc. (LPI) Expected to Announce Quarterly Sales of $206.58 Million
Analysts predict that Laredo Petroleum, Inc. (NYSE:LPI) will post $206.58 million in sales for the current fiscal quarter, according to Zacks. Seven analysts have made estimates for Laredo Petroleum’s earnings, with estimates ranging from $153.00 million to $241.00 million. Laredo Petroleum posted sales of $184.31 million in the same quarter last year, which suggests a positive year over year growth rate of 12.1%. The firm is expected to report its next quarterly earnings report on Wednesday, February 21st.
On average, analysts expect that Laredo Petroleum will report full year sales of $206.58 million for the current financial year, with estimates ranging from $685.20 million to $856.80 million. For the next financial year, analysts anticipate that the business will report sales of $861.40 million per share, with estimates ranging from $579.20 million to $1.08 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that cover Laredo Petroleum.
Laredo Petroleum (NYSE:LPI) last posted its earnings results on Wednesday, November 1st. The oil and gas producer reported $0.13 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.14 by ($0.01). The firm had revenue of $205.82 million during the quarter, compared to analyst estimates of $178.48 million. Laredo Petroleum had a return on equity of 43.77% and a net margin of 15.92%. The company’s revenue for the quarter was up 28.9% on a year-over-year basis. During the same quarter last year, the business posted $0.12 earnings per share.
LPI has been the topic of several analyst reports. Zacks Investment Research lowered shares of Laredo Petroleum from a “buy” rating to a “hold” rating in a report on Friday, October 20th. Williams Capital increased their target price on shares of Laredo Petroleum from $13.00 to $14.00 and gave the stock a “hold” rating in a report on Wednesday, October 18th. BMO Capital Markets set a $14.00 target price on shares of Laredo Petroleum and gave the stock a “hold” rating in a report on Tuesday, October 10th. Piper Jaffray Companies dropped their price objective on shares of Laredo Petroleum from $17.00 to $15.00 and set an “overweight” rating on the stock in a report on Monday, September 18th. Finally, Seaport Global Securities restated a “neutral” rating and set a $9.50 price objective (down from $10.00) on shares of Laredo Petroleum in a report on Monday, October 9th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eight have given a buy rating to the company’s stock. Laredo Petroleum has a consensus rating of “Hold” and a consensus price target of $14.27.
Laredo Petroleum (NYSE LPI) traded up $0.04 on Friday, reaching $9.88. 2,040,600 shares of the company’s stock traded hands, compared to its average volume of 3,613,930. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 4.16. The firm has a market capitalization of $2,386.32, a price-to-earnings ratio of 20.08, a PEG ratio of 3.94 and a beta of 1.33. Laredo Petroleum has a 12 month low of $9.55 and a 12 month high of $15.55.
Several hedge funds have recently made changes to their positions in LPI. Koch Industries Inc. bought a new stake in Laredo Petroleum in the 2nd quarter valued at about $129,000. QCM Cayman Ltd. bought a new stake in Laredo Petroleum in the 2nd quarter valued at about $133,000. Teacher Retirement System of Texas boosted its holdings in Laredo Petroleum by 3.8% in the 2nd quarter. Teacher Retirement System of Texas now owns 12,884 shares of the oil and gas producer’s stock valued at $136,000 after purchasing an additional 468 shares during the period. Fox Run Management L.L.C. bought a new stake in Laredo Petroleum in the 3rd quarter valued at about $167,000. Finally, BNP Paribas Arbitrage SA boosted its holdings in Laredo Petroleum by 4.8% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 16,735 shares of the oil and gas producer’s stock valued at $176,000 after purchasing an additional 766 shares during the period.
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About Laredo Petroleum
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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