Laredo Petroleum Inc (LPI) Expected to Announce Earnings of $0.13 Per Share

Brokerages forecast that Laredo Petroleum Inc (NYSE:LPI) will announce earnings of $0.13 per share for the current fiscal quarter, Zacks Investment Research reports. Four analysts have provided estimates for Laredo Petroleum’s earnings. The highest EPS estimate is $0.16 and the lowest is $0.09. Laredo Petroleum reported earnings per share of $0.24 during the same quarter last year, which would suggest a negative year-over-year growth rate of 45.8%. The company is expected to issue its next quarterly earnings report after the market closes on Wednesday, May 1st.

According to Zacks, analysts expect that Laredo Petroleum will report full-year earnings of $0.55 per share for the current year, with EPS estimates ranging from $0.25 to $0.77. For the next year, analysts anticipate that the business will report earnings of $0.72 per share, with EPS estimates ranging from $0.29 to $1.38. Zacks’ earnings per share averages are an average based on a survey of research analysts that cover Laredo Petroleum.

Laredo Petroleum (NYSE:LPI) last posted its earnings results on Wednesday, February 13th. The oil and gas producer reported $0.16 earnings per share for the quarter, missing the consensus estimate of $0.20 by ($0.04). The firm had revenue of $215.28 million for the quarter, compared to analysts’ expectations of $253.75 million. Laredo Petroleum had a net margin of 29.37% and a return on equity of 21.16%. Laredo Petroleum’s revenue for the quarter was down 10.4% compared to the same quarter last year. During the same period last year, the firm earned $0.19 earnings per share.

Several research firms have recently weighed in on LPI. MKM Partners reaffirmed a “neutral” rating and set a $3.00 target price (down from $5.00) on shares of Laredo Petroleum in a report on Friday, February 15th. Societe Generale lowered shares of Laredo Petroleum from a “buy” rating to a “hold” rating in a report on Friday, February 15th. Zacks Investment Research raised shares of Laredo Petroleum from a “sell” rating to a “hold” rating in a research note on Saturday, January 26th. Raymond James set a $5.00 price target on shares of Laredo Petroleum and gave the company a “buy” rating in a research note on Wednesday, January 23rd. Finally, Williams Capital reissued a “hold” rating and issued a $5.00 price target on shares of Laredo Petroleum in a research note on Wednesday, January 23rd. Four research analysts have rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $6.71.

A number of institutional investors have recently added to or reduced their stakes in LPI. Wells Fargo & Company MN grew its stake in Laredo Petroleum by 3.9% in the 3rd quarter. Wells Fargo & Company MN now owns 642,035 shares of the oil and gas producer’s stock valued at $5,245,000 after acquiring an additional 24,061 shares during the period. JPMorgan Chase & Co. grew its stake in Laredo Petroleum by 63.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 176,255 shares of the oil and gas producer’s stock valued at $1,440,000 after acquiring an additional 68,307 shares during the period. Bank of New York Mellon Corp grew its stake in Laredo Petroleum by 61.6% in the 3rd quarter. Bank of New York Mellon Corp now owns 2,065,690 shares of the oil and gas producer’s stock valued at $16,876,000 after acquiring an additional 787,213 shares during the period. Martingale Asset Management L P boosted its stake in Laredo Petroleum by 1,759.6% during the 3rd quarter. Martingale Asset Management L P now owns 191,594 shares of the oil and gas producer’s stock worth $1,566,000 after purchasing an additional 181,291 shares during the last quarter. Finally, BlackRock Inc. boosted its stake in Laredo Petroleum by 118.3% during the 3rd quarter. BlackRock Inc. now owns 22,944,636 shares of the oil and gas producer’s stock worth $187,459,000 after purchasing an additional 12,434,795 shares during the last quarter. 99.41% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE:LPI remained flat at $$3.14 during trading on Friday. 4,779,541 shares of the stock traded hands, compared to its average volume of 5,283,306. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.96 and a current ratio of 0.96. The stock has a market cap of $751.10 million, a price-to-earnings ratio of 3.38 and a beta of 1.47. Laredo Petroleum has a 52-week low of $2.80 and a 52-week high of $11.18.

Laredo Petroleum Company Profile

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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