Laredo Petroleum, Inc. (NYSE:LPI) – Research analysts at KeyCorp lifted their FY2017 earnings per share estimates for Laredo Petroleum in a report issued on Tuesday. KeyCorp analyst C. Stevens now expects that the oil and gas producer will earn $0.54 per share for the year, up from their prior forecast of $0.52. KeyCorp has a “Hold” rating on the stock. KeyCorp also issued estimates for Laredo Petroleum’s Q4 2017 earnings at $0.20 EPS, Q2 2018 earnings at $0.23 EPS, Q3 2018 earnings at $0.23 EPS, Q4 2018 earnings at $0.26 EPS, Q1 2019 earnings at $0.24 EPS, Q2 2019 earnings at $0.25 EPS, Q3 2019 earnings at $0.28 EPS and FY2019 earnings at $1.07 EPS.
Other equities analysts have also issued reports about the stock. Stifel Nicolaus reissued a “buy” rating and set a $17.00 price target on shares of Laredo Petroleum in a research report on Wednesday, October 4th. Zacks Investment Research raised shares of Laredo Petroleum from a “hold” rating to a “buy” rating and set a $14.00 target price for the company in a report on Tuesday, October 17th. Piper Jaffray Companies reaffirmed a “buy” rating and set a $15.00 target price on shares of Laredo Petroleum in a report on Wednesday, November 22nd. Barclays reaffirmed a “buy” rating on shares of Laredo Petroleum in a report on Thursday, November 23rd. Finally, Scotiabank set a $14.00 target price on shares of Laredo Petroleum and gave the company a “hold” rating in a report on Wednesday, November 22nd. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and eight have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $14.08.
Laredo Petroleum (NYSE:LPI) last posted its quarterly earnings results on Wednesday, November 1st. The oil and gas producer reported $0.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.01). Laredo Petroleum had a return on equity of 43.77% and a net margin of 15.92%. The business had revenue of $205.82 million for the quarter, compared to analysts’ expectations of $178.48 million. During the same period in the prior year, the business posted $0.12 earnings per share. The business’s quarterly revenue was up 28.9% compared to the same quarter last year.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. California Public Employees Retirement System increased its holdings in Laredo Petroleum by 1.7% in the 3rd quarter. California Public Employees Retirement System now owns 624,010 shares of the oil and gas producer’s stock worth $8,068,000 after acquiring an additional 10,610 shares in the last quarter. Allianz Asset Management GmbH increased its holdings in Laredo Petroleum by 34.3% in the 3rd quarter. Allianz Asset Management GmbH now owns 795,136 shares of the oil and gas producer’s stock worth $10,281,000 after acquiring an additional 203,010 shares in the last quarter. Impala Asset Management LLC increased its holdings in Laredo Petroleum by 11.4% in the 3rd quarter. Impala Asset Management LLC now owns 2,693,685 shares of the oil and gas producer’s stock worth $34,829,000 after acquiring an additional 276,371 shares in the last quarter. WS Management Lllp increased its holdings in Laredo Petroleum by 50.8% in the 3rd quarter. WS Management Lllp now owns 5,934,700 shares of the oil and gas producer’s stock worth $76,736,000 after acquiring an additional 2,000,000 shares in the last quarter. Finally, OxFORD Asset Management LLP purchased a new stake in Laredo Petroleum in the 3rd quarter worth $1,859,000.
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About Laredo Petroleum
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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