Q4 2019 Earnings Estimate for Laredo Petroleum Inc (NYSE:LPI) Issued By Piper Jaffray Companies

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.

A number of other research analysts have also recently weighed in on the stock. Robert W. Baird raised shares of Laredo Petroleum from a “neutral” rating to an “outperform” rating and raised their price objective for the stock from $3.00 to $7.00 in a research note on Thursday. Zacks Investment Research raised shares of Laredo Petroleum from a “hold” rating to a “buy” rating and set a $4.00 target price for the company in a research note on Thursday. MKM Partners reaffirmed a “neutral” rating and issued a $3.00 target price (down from $5.00) on shares of Laredo Petroleum in a research note on Friday, February 15th. Societe Generale cut shares of Laredo Petroleum from a “buy” rating to a “hold” rating in a research note on Friday, February 15th. Finally, Raymond James set a $5.00 target price on shares of Laredo Petroleum and gave the stock a “buy” rating in a research note on Wednesday, January 23rd. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $7.00.

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

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