Laredo Petroleum Inc to Post Q1 2019 Earnings of $0.16 Per Share, Capital One Financial Forecasts (NYSE:LPI)

Laredo Petroleum Inc (NYSE:LPI) – Capital One Financial lifted their Q1 2019 earnings per share (EPS) estimates for shares of Laredo Petroleum in a note issued to investors on Tuesday, April 16th, Zacks Investment Research reports. Capital One Financial analyst R. Tullis now anticipates that the oil and gas producer will post earnings of $0.16 per share for the quarter, up from their previous forecast of $0.11. Capital One Financial also issued estimates for Laredo Petroleum’s Q2 2019 earnings at $0.20 EPS, Q3 2019 earnings at $0.18 EPS, Q4 2019 earnings at $0.15 EPS, FY2019 earnings at $0.68 EPS and FY2020 earnings at $0.69 EPS.

Laredo Petroleum (NYSE:LPI) last announced its quarterly earnings data on Wednesday, May 1st. The oil and gas producer reported $0.12 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.10 by $0.02. The firm had revenue of $208.95 million during the quarter, compared to analyst estimates of $198.64 million. Laredo Petroleum had a net margin of 21.68% and a return on equity of 17.30%. Laredo Petroleum’s revenue was down 19.5% on a year-over-year basis. During the same period last year, the firm posted $0.24 EPS.

Several other equities analysts have also commented on LPI. Williams Capital reaffirmed a “hold” rating and issued a $5.00 price objective on shares of Laredo Petroleum in a research report on Wednesday, January 23rd. Raymond James set a $5.00 price objective on shares of Laredo Petroleum and gave the company a “buy” rating in a research report on Wednesday, January 23rd. Zacks Investment Research raised shares of Laredo Petroleum from a “sell” rating to a “hold” rating in a research report on Saturday, January 26th. Societe Generale lowered shares of Laredo Petroleum from a “buy” rating to a “hold” rating in a research report on Friday, February 15th. Finally, MKM Partners reiterated a “neutral” rating and issued a $3.00 price target (down previously from $5.00) on shares of Laredo Petroleum in a report on Friday, February 15th. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $7.00.

Shares of Laredo Petroleum stock traded down $0.06 during midday trading on Friday, hitting $3.54. The company had a trading volume of 3,954,228 shares, compared to its average volume of 5,579,187. The firm has a market capitalization of $851.60 million, a P/E ratio of 3.81 and a beta of 1.45. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.92. Laredo Petroleum has a 12-month low of $2.80 and a 12-month high of $10.43.

A number of large investors have recently modified their holdings of LPI. MML Investors Services LLC increased its position in shares of Laredo Petroleum by 376.4% during the 1st quarter. MML Investors Services LLC now owns 193,270 shares of the oil and gas producer’s stock worth $597,000 after purchasing an additional 152,699 shares during the last quarter. Factorial Partners LLC acquired a new stake in shares of Laredo Petroleum during the 1st quarter worth about $358,000. Swiss National Bank increased its position in shares of Laredo Petroleum by 2.5% during the 1st quarter. Swiss National Bank now owns 298,300 shares of the oil and gas producer’s stock worth $922,000 after purchasing an additional 7,200 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Laredo Petroleum by 17.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 11,869,819 shares of the oil and gas producer’s stock worth $36,678,000 after purchasing an additional 1,744,481 shares during the last quarter. Finally, BlackRock Inc. increased its position in shares of Laredo Petroleum by 0.4% during the 1st quarter. BlackRock Inc. now owns 23,687,789 shares of the oil and gas producer’s stock worth $73,195,000 after purchasing an additional 101,663 shares during the last quarter.

About Laredo Petroleum

Laredo Petroleum, Inc, an independent energy company, engages in the acquisition, exploration, and development of oil and natural gas properties in the Permian Basin of West Texas, the United States. The company also provides midstream and marketing services comprising transportation and marketing of oil and natural gas; and natural gas lift systems, crude oil and natural gas gathering, and water delivery and takeaway services.

Further Reading: Mutual Funds

Get a free copy of the Zacks research report on Laredo Petroleum (LPI)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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

Receive News & Ratings for Laredo Petroleum Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Laredo Petroleum and related companies with MarketBeat.com's FREE daily email newsletter.