LPI Stock: FY2017 EPS Estimates for Laredo Petroleum, Inc. Cut by Analyst

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Laredo Petroleum, Inc. (NYSE:LPI) – Equities researchers at KeyCorp lowered their FY2017 earnings estimates for Laredo Petroleum in a report issued on Wednesday, according to Zacks Investment Research. KeyCorp analyst C. Stevens now forecasts that the oil and gas producer will post earnings per share of $0.51 for the year, down from their prior forecast of $0.52. KeyCorp currently has a “Hold” rating on the stock. KeyCorp also issued estimates for Laredo Petroleum’s Q1 2018 earnings at $0.14 EPS, Q2 2018 earnings at $0.15 EPS, Q3 2018 earnings at $0.16 EPS, Q4 2018 earnings at $0.19 EPS and FY2018 earnings at $0.63 EPS.

Laredo Petroleum (NYSE:LPI) last released its quarterly earnings results on Wednesday, November 1st. The oil and gas producer reported $0.13 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.14 by ($0.01). Laredo Petroleum had a net margin of 15.92% and a return on equity of 43.77%. The company had revenue of $205.82 million for the quarter, compared to the consensus estimate of $178.48 million. During the same period last year, the company earned $0.12 earnings per share. Laredo Petroleum’s revenue for the quarter was up 28.9% compared to the same quarter last year.

A number of other brokerages have also commented on LPI. Zacks Investment Research upgraded shares of Laredo Petroleum from a “hold” rating to a “buy” rating and set a $14.00 price objective on the stock in a report on Tuesday, October 17th. Stifel Nicolaus reissued a “buy” rating and set a $17.00 target price on shares of Laredo Petroleum in a report on Wednesday, October 4th. Cowen and Company reissued a “hold” rating and set a $12.00 target price on shares of Laredo Petroleum in a report on Sunday, September 17th. 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 Sunday, August 13th. Finally, Williams Capital set a $14.00 price objective on shares of Laredo Petroleum and gave the company a “hold” rating in a research note on Tuesday, August 8th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and eight have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $14.45.

Shares of Laredo Petroleum (NYSE:LPI) opened at $9.92 on Monday. Laredo Petroleum has a 52 week low of $9.57 and a 52 week high of $16.47. The company has a debt-to-equity ratio of 4.16, a quick ratio of 0.64 and a current ratio of 0.64. The company has a market cap of $2,427.55, a P/E ratio of 20.43, a PEG ratio of 4.02 and a beta of 1.39.

Hedge funds have recently made changes to their positions in the company. Legal & General Group Plc raised its position in Laredo Petroleum by 157.2% during the first quarter. Legal & General Group Plc now owns 51,379 shares of the oil and gas producer’s stock valued at $750,000 after acquiring an additional 31,401 shares in the last quarter. Vanguard Group Inc. grew its stake in Laredo Petroleum by 20.9% during the first quarter. Vanguard Group Inc. now owns 14,906,724 shares of the oil and gas producer’s stock worth $217,638,000 after buying an additional 2,578,127 shares during the last quarter. Geode Capital Management LLC grew its stake in Laredo Petroleum by 4.8% during the first quarter. Geode Capital Management LLC now owns 1,057,063 shares of the oil and gas producer’s stock worth $15,433,000 after buying an additional 48,017 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in Laredo Petroleum by 153.4% during the first quarter. Dimensional Fund Advisors LP now owns 2,368,993 shares of the oil and gas producer’s stock worth $34,586,000 after buying an additional 1,434,079 shares during the last quarter. Finally, UBS Group AG grew its stake in Laredo Petroleum by 77.4% during the first quarter. UBS Group AG now owns 41,462 shares of the oil and gas producer’s stock worth $606,000 after buying an additional 18,092 shares during the last quarter.

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

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