Laredo Petroleum Inc (NYSE:LPI) – Piper Jaffray Companies decreased their Q4 2019 earnings per share estimates for Laredo Petroleum in a report released on Wednesday, February 13th. Piper Jaffray Companies analyst K. Harrison now forecasts that the oil and gas producer will post earnings per share of $0.11 for the quarter, down from their previous estimate of $0.12. Piper Jaffray Companies has a “Neutral” rating on the stock. Piper Jaffray Companies also issued estimates for Laredo Petroleum’s Q3 2020 earnings at $0.03 EPS.
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Laredo Petroleum (NYSE:LPI) last posted its quarterly 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 company had revenue of $215.28 million during the quarter, compared to analysts’ expectations of $253.75 million. Laredo Petroleum had a return on equity of 22.26% and a net margin of 29.37%. The business’s quarterly revenue was down 10.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.19 EPS.
Several other analysts also recently weighed in on the company. Capital One Financial downgraded Laredo Petroleum from an “overweight” rating to an “underweight” rating in a research note on Thursday, December 20th. Robert W. Baird cut their price target on Laredo Petroleum from $10.00 to $3.00 and set a “neutral” rating on the stock in a research note on Friday, January 4th. Raymond James set a $5.00 price target on Laredo Petroleum and gave the stock a “buy” rating in a research note on Wednesday, January 23rd. MKM Partners started coverage on Laredo Petroleum in a research note on Wednesday, December 5th. They issued a “buy” rating and a $9.00 price target on the stock. Finally, Credit Suisse Group downgraded Laredo Petroleum from a “neutral” rating to an “underperform” rating in a research note on Wednesday, December 19th. Four research analysts have rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company. Laredo Petroleum has a consensus rating of “Hold” and an average price target of $7.78.
Laredo Petroleum stock opened at $3.86 on Friday. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.95. The company has a market capitalization of $902.79 million, a P/E ratio of 4.15 and a beta of 1.54. Laredo Petroleum has a twelve month low of $3.00 and a twelve month high of $11.18.
A number of institutional investors and hedge funds have recently modified their holdings of LPI. Bank of America Corp DE boosted its stake in Laredo Petroleum by 590.7% during the 2nd quarter. Bank of America Corp DE now owns 653,965 shares of the oil and gas producer’s stock valued at $6,291,000 after purchasing an additional 559,287 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in Laredo Petroleum by 23.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,278,477 shares of the oil and gas producer’s stock valued at $12,300,000 after purchasing an additional 243,977 shares during the last quarter. Northern Trust Corp boosted its stake in Laredo Petroleum by 131.5% during the 2nd quarter. Northern Trust Corp now owns 1,793,601 shares of the oil and gas producer’s stock valued at $17,254,000 after purchasing an additional 1,018,976 shares during the last quarter. State of Alaska Department of Revenue purchased a new stake in Laredo Petroleum during the 3rd quarter valued at $404,000. Finally, First Hawaiian Bank purchased a new stake in Laredo Petroleum during the 3rd quarter valued at $120,000.
About Laredo Petroleum
Laredo Petroleum, Inc operates as an independent energy company in the United States. It operates through two segments, Exploration and Production; and Midstream and Marketing. The company engages in the acquisition, exploration, and development of oil and natural gas properties; and the transportation of oil and natural gas primarily in the Permian Basin in West Texas, as well as rig fuel, natural gas lift, and water delivery and takeaway services.
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