Laredo Petroleum Inc. (NYSE:LPI) – Equities research analysts at KeyCorp issued their Q1 2017 earnings estimates for Laredo Petroleum in a research note issued on Tuesday. KeyCorp analyst C. Stevens expects that the firm will earn $0.10 per share for the quarter. KeyCorp also issued estimates for Laredo Petroleum’s Q2 2017 earnings at $0.11 EPS, Q3 2017 earnings at $0.13 EPS and Q4 2017 earnings at $0.15 EPS.
Several other equities research analysts have also recently weighed in on LPI. Barclays PLC increased their price objective on Laredo Petroleum from $14.00 to $15.00 and gave the stock an “overweight” rating in a report on Friday, August 5th. Zacks Investment Research cut Laredo Petroleum from a “buy” rating to a “hold” rating in a report on Thursday, August 11th. Capital One Financial Corp. upgraded Laredo Petroleum from an “equal weight” rating to an “overweight” rating and set a $15.00 price objective for the company in a report on Wednesday, August 24th. Williams Capital initiated coverage on Laredo Petroleum in a report on Monday, August 29th. They issued a “hold” rating and a $14.00 price objective for the company. Finally, Seaport Global Securities upgraded Laredo Petroleum from a “sell” rating to a “neutral” rating and increased their price objective for the stock from $8.00 to $11.00 in a report on Tuesday, August 30th. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and seven have issued a buy rating to the company. Laredo Petroleum has an average rating of “Hold” and an average target price of $12.33.
Shares of Laredo Petroleum (NYSE:LPI) opened at 14.72 on Thursday. Laredo Petroleum has a one year low of $3.90 and a one year high of $15.39. The company’s 50-day moving average price is $13.36 and its 200 day moving average price is $11.97. The company’s market cap is $3.50 billion.
Laredo Petroleum (NYSE:LPI) last announced its quarterly earnings results on Wednesday, November 2nd. The company reported $0.12 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.12. Laredo Petroleum had a positive return on equity of 123.07% and a negative net margin of 225.04%. The business earned $159.70 million during the quarter, compared to the consensus estimate of $150.09 million. During the same quarter in the prior year, the company posted $0.07 earnings per share. Laredo Petroleum’s revenue was up 6.3% compared to the same quarter last year.
In other Laredo Petroleum news, VP Patrick J. Curth sold 17,000 shares of Laredo Petroleum stock in a transaction on Monday, August 29th. The stock was sold at an average price of $12.57, for a total value of $213,690.00. Following the completion of the sale, the vice president now owns 172,926 shares of the company’s stock, valued at approximately $2,173,679.82. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.50% of the company’s stock.
Hedge funds have recently bought and sold shares of the company. Credit Suisse AG raised its stake in Laredo Petroleum by 32.8% in the third quarter. Credit Suisse AG now owns 402,921 shares of the company’s stock worth $5,197,000 after buying an additional 99,542 shares during the last quarter. Verition Fund Management LLC acquired a new stake in Laredo Petroleum during the third quarter worth approximately $245,000. TLP Group LLC acquired a new stake in Laredo Petroleum during the third quarter worth approximately $187,000. Two Sigma Advisers LP acquired a new stake in Laredo Petroleum during the third quarter worth approximately $626,000. Finally, Encompass Capital Advisors LLC acquired a new stake in Laredo Petroleum during the third quarter worth approximately $1,927,000. 99.78% of the stock is owned by institutional investors and hedge funds.
Laredo Petroleum Company Profile