Laredo Petroleum, Inc. (NYSE:LPI) – Analysts at Capital One Financial Corporation lifted their Q4 2017 earnings per share estimates for Laredo Petroleum in a research note issued on Tuesday. Capital One Financial Corporation analyst R. Tullis now expects that the oil and gas producer will post earnings per share of $0.19 for the quarter, up from their prior estimate of $0.18. Capital One Financial Corporation also issued estimates for Laredo Petroleum’s FY2018 earnings at $0.86 EPS.
Several other analysts also recently issued reports on LPI. Zacks Investment Research downgraded Laredo Petroleum from a “buy” rating to a “hold” rating and set a $16.00 price objective on the stock. in a research report on Tuesday, February 28th. Credit Suisse Group restated a “sell” rating and issued a $13.00 price objective on shares of Laredo Petroleum in a research report on Wednesday, March 1st. Scotiabank set a $15.00 target price on Laredo Petroleum and gave the stock a “hold” rating in a research report on Monday, March 27th. Seaport Global Securities upgraded Laredo Petroleum from a “neutral” rating to a “buy” rating in a research report on Friday, March 31st. Finally, Stifel Nicolaus assumed coverage on Laredo Petroleum in a research report on Wednesday, April 12th. They set a “buy” rating and a $18.00 target price on the stock. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and ten have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $15.70.
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Laredo Petroleum (NYSE LPI) traded down 0.40% on Wednesday, hitting $9.89. The stock had a trading volume of 1,632,329 shares. The stock’s 50 day moving average is $12.00 and its 200 day moving average is $13.44. Laredo Petroleum has a one year low of $9.20 and a one year high of $16.47. The stock’s market cap is $2.37 billion.
Laredo Petroleum (NYSE:LPI) last posted its quarterly earnings results on Wednesday, May 3rd. The oil and gas producer reported $0.10 EPS for the quarter, missing the consensus estimate of $0.11 by $0.01. Laredo Petroleum had a positive return on equity of 75.64% and a negative net margin of 1.78%. The company had revenue of $189 million for the quarter, compared to analysts’ expectations of $164.39 million. During the same quarter in the prior year, the firm earned $0.08 EPS. The firm’s revenue was up 77.3% on a year-over-year basis.
Several large investors have recently bought and sold shares of the stock. Cpcm LLC raised its stake in Laredo Petroleum by 2.9% in the first quarter. Cpcm LLC now owns 196,291 shares of the oil and gas producer’s stock worth $2,866,000 after buying an additional 5,500 shares during the period. Public Employees Retirement System of Ohio raised its stake in Laredo Petroleum by 2.0% in the first quarter. Public Employees Retirement System of Ohio now owns 69,338 shares of the oil and gas producer’s stock worth $1,012,000 after buying an additional 1,327 shares during the period. Point72 Asset Management L.P. raised its stake in Laredo Petroleum by 150.2% in the first quarter. Point72 Asset Management L.P. now owns 3,748,400 shares of the oil and gas producer’s stock worth $54,727,000 after buying an additional 2,250,300 shares during the period. TPH Asset Management LLC raised its stake in Laredo Petroleum by 25.1% in the first quarter. TPH Asset Management LLC now owns 1,631,543 shares of the oil and gas producer’s stock worth $23,821,000 after buying an additional 327,036 shares during the period. Finally, Credit Suisse AG raised its stake in Laredo Petroleum by 189.6% in the first quarter. Credit Suisse AG now owns 349,708 shares of the oil and gas producer’s stock worth $5,105,000 after buying an additional 228,946 shares during the period.
In other news, Director Peter Kagan sold 163,207 shares of the firm’s stock in a transaction dated Friday, March 31st. The stock was sold at an average price of $14.34, for a total value of $2,340,388.38. Following the transaction, the director now directly owns 68,006 shares in the company, valued at approximately $975,206.04. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Patrick J. Curth sold 43,830 shares of the firm’s stock in a transaction dated Friday, March 31st. The stock was sold at an average price of $14.41, for a total value of $631,590.30. Following the completion of the transaction, the vice president now owns 232,386 shares in the company, valued at $3,348,682.26. The disclosure for this sale can be found here. Company insiders own 1.40% of the company’s stock.
Laredo Petroleum Company Profile
Laredo Petroleum, Inc (Laredo) is an independent energy company. The Company is focused on the acquisition, exploration and development of oil and natural gas properties, and the transportation of oil and natural gas from such properties primarily in the Permian Basin in West Texas. It operates through two segments: Exploration and production of oil and natural gas properties, and Midstream and marketing.
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