Laredo Petroleum Inc. (NYSE:LPI) – Equities research analysts at Williams Capital lowered their FY2018 EPS estimates for Laredo Petroleum in a research report issued to clients and investors on Monday. Williams Capital analyst G. Sorbara now expects that the firm will earn $0.53 per share for the year, down from their previous estimate of $0.54. Williams Capital currently has a “Hold” rating and a $14.00 target price on the stock.
Laredo Petroleum (NYSE:LPI) last issued its earnings results on Wednesday, August 3rd. The company reported ($0.33) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.10 by $0.43. The business earned $146.77 million during the quarter, compared to the consensus estimate of $138.30 million. Laredo Petroleum had a negative net margin of 391.74% and a positive return on equity of 24.95%. The firm’s revenue for the quarter was down 19.5% compared to the same quarter last year. During the same period last year, the business posted $0.05 EPS.
A number of other research analysts also recently commented on LPI. Barclays PLC started coverage on Laredo Petroleum in a research note on Tuesday, June 21st. They issued an “overweight” rating and a $14.00 price target for the company. Nomura reissued a “neutral” rating and set a $11.00 target price (up previously from $10.00) on shares of Laredo Petroleum in a research note on Tuesday, June 21st. Zacks Investment Research downgraded Laredo Petroleum from a “buy” rating to a “hold” rating in a research note on Thursday, August 11th. Capital One Financial Corp. raised Laredo Petroleum from an “equal weight” rating to an “overweight” rating and set a $15.00 target price for the company in a research note on Wednesday, August 24th. Finally, Seaport Global Securities raised Laredo Petroleum from a “sell” rating to a “neutral” rating and boosted their target price for the stock from $8.00 to $11.00 in a research note on Tuesday, August 30th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and eight have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $12.61.
Shares of Laredo Petroleum (NYSE:LPI) traded up 1.867% on Wednesday, hitting $13.365. 2,339,552 shares of the stock traded hands. Laredo Petroleum has a 1-year low of $3.90 and a 1-year high of $13.93. The stock has a 50 day moving average of $12.50 and a 200-day moving average of $11.42. The stock’s market cap is $2.98 billion.
In other Laredo Petroleum news, VP Patrick J. Curth sold 17,000 shares of the stock in a transaction that occurred on Monday, August 29th. The stock was sold at an average price of $12.57, for a total transaction of $213,690.00. Following the transaction, the vice president now directly owns 172,926 shares in the company, valued at approximately $2,173,679.82. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.50% of the stock is owned by corporate insiders.
Several institutional investors have recently bought and sold shares of the company. Ngam Advisors L.P. boosted its position in Laredo Petroleum by 18.9% in the second quarter. Ngam Advisors L.P. now owns 461,827 shares of the company’s stock worth $4,840,000 after buying an additional 73,434 shares during the last quarter. Capital Fund Management S.A. acquired a new position in Laredo Petroleum during the second quarter worth about $1,739,000. Bank of Montreal Can acquired a new position in Laredo Petroleum during the second quarter worth about $10,296,000. CIBC World Markets Inc. acquired a new position in Laredo Petroleum during the second quarter worth about $178,000. Finally, IBM Retirement Fund boosted its position in Laredo Petroleum by 8.8% in the second quarter. IBM Retirement Fund now owns 13,548 shares of the company’s stock worth $142,000 after buying an additional 1,099 shares during the last quarter. Hedge funds and other institutional investors own 98.78% of the company’s stock.
Laredo Petroleum Company Profile
Laredo Petroleum, Inc (Laredo) is an independent energy company 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. The Company’s segments include Exploration and production, and Midstream and marketing.
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