Laredo Petroleum Inc (NYSE:LPI) Expected to Post Quarterly Sales of $212.15 Million

Wall Street analysts expect Laredo Petroleum Inc (NYSE:LPI) to post $212.15 million in sales for the current quarter, Zacks Investment Research reports. Four analysts have provided estimates for Laredo Petroleum’s earnings, with the highest sales estimate coming in at $222.69 million and the lowest estimate coming in at $206.00 million. Laredo Petroleum posted sales of $215.29 million in the same quarter last year, which suggests a negative year over year growth rate of 1.5%. The firm is scheduled to issue its next earnings report on Wednesday, February 12th.

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According to Zacks, analysts expect that Laredo Petroleum will report full-year sales of $859.90 million for the current financial year, with estimates ranging from $828.00 million to $909.38 million. For the next year, analysts anticipate that the company will post sales of $856.04 million, with estimates ranging from $809.28 million to $936.00 million. Zacks’ sales averages are an average based on a survey of sell-side research analysts that cover Laredo Petroleum.

Laredo Petroleum (NYSE:LPI) last released its quarterly earnings results on Tuesday, November 5th. The oil and gas producer reported $0.21 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.19 by $0.02. The business had revenue of $193.57 million during the quarter, compared to analysts’ expectations of $215.83 million. Laredo Petroleum had a return on equity of 13.81% and a net margin of 5.87%. During the same period last year, the firm posted $0.27 EPS.

Several analysts recently weighed in on the company. ValuEngine cut Laredo Petroleum from a “sell” rating to a “strong sell” rating in a report on Friday, November 1st. Williams Capital set a $4.50 price target on Laredo Petroleum and gave the stock a “buy” rating in a report on Tuesday, October 15th. JPMorgan Chase & Co. raised Laredo Petroleum from an “underweight” rating to a “neutral” rating in a report on Wednesday, July 31st. Finally, Zacks Investment Research cut Laredo Petroleum from a “buy” rating to a “hold” rating in a report on Wednesday, October 16th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $4.55.

NYSE:LPI traded up $0.02 during mid-day trading on Thursday, hitting $2.60. 4,458,172 shares of the stock were exchanged, compared to its average volume of 5,503,079. The stock has a market capitalization of $612.67 million, a price-to-earnings ratio of 2.80 and a beta of 1.62. The firm’s 50-day simple moving average is $2.38 and its 200 day simple moving average is $2.75. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.13 and a current ratio of 1.13. Laredo Petroleum has a fifty-two week low of $2.03 and a fifty-two week high of $5.84.

In related news, major shareholder Warburg Pincus Llc sold 69,874 shares of Laredo Petroleum stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $2.76, for a total transaction of $192,852.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 3.00% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. BlackRock Inc. raised its holdings in Laredo Petroleum by 0.5% in the 2nd quarter. BlackRock Inc. now owns 23,796,348 shares of the oil and gas producer’s stock valued at $69,009,000 after acquiring an additional 108,559 shares in the last quarter. Luminus Management LLC raised its holdings in Laredo Petroleum by 286.6% in the 2nd quarter. Luminus Management LLC now owns 10,695,485 shares of the oil and gas producer’s stock valued at $31,017,000 after acquiring an additional 7,929,185 shares in the last quarter. Parametric Portfolio Associates LLC raised its holdings in Laredo Petroleum by 352.2% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 3,602,580 shares of the oil and gas producer’s stock valued at $10,447,000 after acquiring an additional 2,805,931 shares in the last quarter. LSV Asset Management raised its holdings in Laredo Petroleum by 1.7% in the 2nd quarter. LSV Asset Management now owns 3,504,809 shares of the oil and gas producer’s stock valued at $10,163,000 after acquiring an additional 59,700 shares in the last quarter. Finally, Caymus Capital Partners L.P. acquired a new position in Laredo Petroleum in the 2nd quarter valued at $6,072,000. 94.72% of the stock is owned by hedge funds and other institutional investors.

About Laredo Petroleum

Laredo Petroleum, Inc, an independent energy company, engages in the acquisition, exploration, and development of oil and natural gas properties in the Permian Basin of West Texas, the United States. The company also provides midstream and marketing services comprising transportation and marketing of oil and natural gas; and natural gas lift systems, crude oil and natural gas gathering, and water delivery and takeaway services.

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Earnings History and Estimates for Laredo Petroleum (NYSE:LPI)

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