Laredo Petroleum Inc (NYSE:LPI) – Investment analysts at Piper Jaffray Companies dropped their Q1 2019 earnings per share estimates for Laredo Petroleum in a research note issued to investors on Wednesday, January 9th. Piper Jaffray Companies analyst K. Harrison now anticipates that the oil and gas producer will earn $0.04 per share for the quarter, down from their previous forecast of $0.19. Piper Jaffray Companies has a “Neutral” rating on the stock. Piper Jaffray Companies also issued estimates for Laredo Petroleum’s Q2 2019 earnings at $0.03 EPS, Q3 2019 earnings at $0.06 EPS, Q4 2019 earnings at $0.12 EPS, FY2019 earnings at $0.24 EPS, Q1 2020 earnings at $0.10 EPS, Q2 2020 earnings at $0.07 EPS, Q3 2020 earnings at $0.04 EPS, Q4 2020 earnings at $0.09 EPS and FY2020 earnings at $0.30 EPS.

Laredo Petroleum (NYSE:LPI) last announced its quarterly earnings results on Monday, November 5th. The oil and gas producer reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.30 by ($0.03). The company had revenue of $279.70 million for the quarter, compared to analysts’ expectations of $276.95 million. Laredo Petroleum had a net margin of 51.61% and a return on equity of 24.30%. The firm’s revenue was up 35.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.13 earnings per share.

A number of other research firms have also recently commented on LPI. Zacks Investment Research cut Laredo Petroleum from a “hold” rating to a “sell” rating in a research report on Wednesday, December 12th. MKM Partners initiated coverage on Laredo Petroleum in a research note on Wednesday, December 5th. They issued a “buy” rating and a $9.00 price target on the stock. Capital One Financial lowered Laredo Petroleum from an “overweight” rating to an “underweight” rating in a research note on Thursday, December 20th. Robert W. Baird lowered their price target on Laredo Petroleum from $10.00 to $3.00 and set a “neutral” rating on the stock in a research note on Friday, January 4th. Finally, Credit Suisse Group lowered Laredo Petroleum from a “neutral” rating to an “underperform” rating in a research note on Wednesday, December 19th. Five investment analysts have rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $10.00.

Laredo Petroleum stock opened at $4.18 on Friday. The company has a market capitalization of $979.97 million, a PE ratio of 6.97 and a beta of 1.61. Laredo Petroleum has a 12 month low of $3.00 and a 12 month high of $11.68. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.73 and a quick ratio of 0.73.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. raised its position in Laredo Petroleum by 118.3% in the third quarter. BlackRock Inc. now owns 22,944,636 shares of the oil and gas producer’s stock valued at $187,459,000 after purchasing an additional 12,434,795 shares during the period. Laurion Capital Management LP purchased a new stake in Laredo Petroleum in the third quarter valued at $29,316,000. Dimensional Fund Advisors LP raised its position in Laredo Petroleum by 52.4% in the second quarter. Dimensional Fund Advisors LP now owns 7,234,971 shares of the oil and gas producer’s stock valued at $69,599,000 after purchasing an additional 2,487,113 shares during the period. Marshall Wace LLP raised its position in Laredo Petroleum by 4,925.8% in the third quarter. Marshall Wace LLP now owns 2,021,572 shares of the oil and gas producer’s stock valued at $16,516,000 after purchasing an additional 1,981,348 shares during the period. Finally, AQR Capital Management LLC raised its position in Laredo Petroleum by 33.2% in the third quarter. AQR Capital Management LLC now owns 7,588,133 shares of the oil and gas producer’s stock valued at $61,995,000 after purchasing an additional 1,890,401 shares during the period.

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

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