Laredo Petroleum Inc (NYSE:LPI) – Piper Jaffray Companies lifted their Q4 2019 earnings per share estimates for shares of Laredo Petroleum in a report issued on Thursday, April 18th, according to Zacks Investment Research. Piper Jaffray Companies analyst K. Harrison now anticipates that the oil and gas producer will post earnings per share of $0.21 for the quarter, up from their previous forecast of $0.20. Piper Jaffray Companies also issued estimates for Laredo Petroleum’s Q1 2020 earnings at $0.20 EPS, Q2 2020 earnings at $0.18 EPS, Q3 2020 earnings at $0.17 EPS and FY2020 earnings at $0.70 EPS.
Laredo Petroleum (NYSE:LPI) last issued its quarterly earnings data on Wednesday, May 1st. The oil and gas producer reported $0.12 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.10 by $0.02. Laredo Petroleum had a net margin of 21.68% and a return on equity of 17.30%. The business had revenue of $208.95 million during the quarter, compared to analysts’ expectations of $198.64 million. During the same period last year, the company posted $0.24 EPS. The company’s revenue was down 19.5% on a year-over-year basis.
Shares of LPI traded down $0.06 during mid-day trading on Friday, reaching $3.54. 3,954,228 shares of the company’s stock were exchanged, compared to its average volume of 5,579,187. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.85 and a quick ratio of 0.85. Laredo Petroleum has a 52-week low of $2.80 and a 52-week high of $10.43. The stock has a market cap of $851.60 million, a price-to-earnings ratio of 3.81 and a beta of 1.45.
Institutional investors and hedge funds have recently made changes to their positions in the business. Pearl River Capital LLC acquired a new position in shares of Laredo Petroleum in the 4th quarter valued at $35,000. Pitcairn Co. acquired a new position in shares of Laredo Petroleum during the 4th quarter valued at $42,000. Shelton Capital Management acquired a new position in shares of Laredo Petroleum during the 4th quarter valued at $56,000. Cornerstone Investment Partners LLC acquired a new position in shares of Laredo Petroleum during the 1st quarter valued at $51,000. Finally, Raymond James Financial Services Advisors Inc. acquired a new position in shares of Laredo Petroleum during the 1st quarter valued at $57,000.
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.
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