Analysts expect that Laredo Petroleum Inc (NYSE:LPI) will report sales of $212.52 million for the current fiscal quarter, Zacks reports. Seven analysts have made estimates for Laredo Petroleum’s earnings. The highest sales estimate is $251.00 million and the lowest is $181.20 million. Laredo Petroleum reported sales of $189.01 million during the same quarter last year, which indicates a positive year-over-year growth rate of 12.4%. The firm is scheduled to announce its next earnings report on Wednesday, May 2nd.
On average, analysts expect that Laredo Petroleum will report full year sales of $212.52 million for the current fiscal year, with estimates ranging from $713.40 million to $1.06 billion. For the next fiscal year, analysts anticipate that the business will post sales of $958.88 million per share, with estimates ranging from $804.00 million to $1.19 billion. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that cover Laredo Petroleum.
Laredo Petroleum (NYSE:LPI) last posted its quarterly earnings data on Wednesday, February 14th. The oil and gas producer reported $0.19 EPS for the quarter, topping the consensus estimate of $0.18 by $0.01. Laredo Petroleum had a return on equity of 30.02% and a net margin of 66.77%. The firm had revenue of $240.34 million for the quarter, compared to the consensus estimate of $212.57 million. During the same quarter last year, the company earned $0.16 earnings per share. The business’s revenue for the quarter was up 30.4% compared to the same quarter last year.
Several research analysts have recently commented on the company. National Securities began coverage on Laredo Petroleum in a research note on Tuesday, January 16th. They issued a “buy” rating on the stock. Zacks Investment Research upgraded Laredo Petroleum from a “hold” rating to a “buy” rating and set a $13.00 target price for the company in a research report on Wednesday, January 24th. Bank of America cut their target price on Laredo Petroleum from $13.00 to $11.00 and set an “underperform” rating for the company in a research report on Thursday, March 8th. ValuEngine cut Laredo Petroleum from a “hold” rating to a “sell” rating in a research report on Monday, April 2nd. Finally, Robert W. Baird cut their target price on Laredo Petroleum from $17.00 to $14.00 and set an “outperform” rating for the company in a research report on Monday, December 18th. Three analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have issued a buy rating to the company. Laredo Petroleum has a consensus rating of “Hold” and a consensus price target of $12.56.
Shares of NYSE LPI traded up $0.41 during trading on Friday, hitting $9.66. The company had a trading volume of 4,880,470 shares, compared to its average volume of 3,349,943. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.03. Laredo Petroleum has a 12 month low of $7.41 and a 12 month high of $15.11. The company has a market capitalization of $2,093.07, a P/E ratio of 16.10, a price-to-earnings-growth ratio of 1.67 and a beta of 1.22.
Laredo Petroleum declared that its board has authorized a stock repurchase plan on Wednesday, February 14th that permits the company to buyback $200.00 million in shares. This buyback authorization permits the oil and gas producer to buy shares of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board of directors believes its stock is undervalued.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Schwab Charles Investment Management Inc. grew its holdings in Laredo Petroleum by 1.4% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 417,249 shares of the oil and gas producer’s stock valued at $5,396,000 after buying an additional 5,946 shares in the last quarter. Great West Life Assurance Co. Can grew its holdings in Laredo Petroleum by 49.6% during the 3rd quarter. Great West Life Assurance Co. Can now owns 21,632 shares of the oil and gas producer’s stock valued at $280,000 after buying an additional 7,174 shares in the last quarter. Wells Fargo & Company MN grew its holdings in Laredo Petroleum by 2.6% during the 4th quarter. Wells Fargo & Company MN now owns 304,856 shares of the oil and gas producer’s stock valued at $3,234,000 after buying an additional 7,683 shares in the last quarter. Legal & General Group Plc grew its holdings in Laredo Petroleum by 18.4% during the 3rd quarter. Legal & General Group Plc now owns 62,768 shares of the oil and gas producer’s stock valued at $812,000 after buying an additional 9,754 shares in the last quarter. Finally, California Public Employees Retirement System grew its holdings in Laredo Petroleum by 1.7% during the 3rd quarter. California Public Employees Retirement System now owns 624,010 shares of the oil and gas producer’s stock valued at $8,068,000 after buying an additional 10,610 shares in the last quarter.
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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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