Q3 2017 EPS Estimates for Laredo Petroleum, Inc. (NYSE:LPI) Boosted by Capital One Financial Corporation
Laredo Petroleum, Inc. (NYSE:LPI) – Equities research analysts at Capital One Financial Corporation upped their Q3 2017 earnings estimates for Laredo Petroleum in a report released on Wednesday. Capital One Financial Corporation analyst R. Tullis now expects that the oil and gas producer will post earnings per share of $0.17 for the quarter, up from their previous estimate of $0.15. Capital One Financial Corporation also issued estimates for Laredo Petroleum’s Q4 2017 earnings at $0.19 EPS and FY2017 earnings at $0.56 EPS.
Laredo Petroleum (NYSE:LPI) last posted its quarterly earnings results on Monday, August 7th. The oil and gas producer reported $0.10 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.11 by $0.01. The company had revenue of $187 million during the quarter, compared to the consensus estimate of $173.32 million. Laredo Petroleum had a net margin of 16.73% and a return on equity of 49.15%. The firm’s revenue for the quarter was up 27.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.13 earnings per share. TRADEMARK VIOLATION WARNING: This story was posted by Daily Political and is owned by of Daily Political. If you are reading this story on another publication, it was copied illegally and reposted in violation of US and international copyright legislation. The legal version of this story can be read at https://www.dailypolitical.com/2017/08/11/q3-2017-eps-estimates-for-laredo-petroleum-inc-nyselpi-boosted-by-capital-one-financial-corporation.html.
Several other analysts also recently commented on the company. Credit Suisse Group reissued an “underperform” rating and issued a $15.00 price objective on shares of Laredo Petroleum in a research note on Friday, June 2nd. Seaport Global Securities downgraded Laredo Petroleum from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $19.00 to $9.00 in a research note on Wednesday, June 21st. J P Morgan Chase & Co lowered their price objective on Laredo Petroleum from $14.00 to $13.00 and set a “neutral” rating for the company in a research note on Wednesday, May 31st. Scotiabank reissued a “hold” rating and issued a $15.00 price objective on shares of Laredo Petroleum in a research note on Friday, May 5th. Finally, Williams Capital set a $16.00 price objective on Laredo Petroleum and gave the stock a “hold” rating in a research note on Thursday, May 4th. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and ten have issued a buy rating to the stock. Laredo Petroleum presently has a consensus rating of “Hold” and a consensus target price of $14.63.
Laredo Petroleum (NYSE:LPI) opened at 12.09 on Friday. The company has a market capitalization of $2.89 billion, a P/E ratio of 24.42 and a beta of 1.41. Laredo Petroleum has a 1-year low of $9.57 and a 1-year high of $16.47. The firm has a 50-day moving average price of $11.49 and a 200-day moving average price of $12.74.
A number of institutional investors have recently made changes to their positions in LPI. American Century Companies Inc. raised its position in shares of Laredo Petroleum by 381.5% in the first quarter. American Century Companies Inc. now owns 84,554 shares of the oil and gas producer’s stock valued at $1,234,000 after buying an additional 66,992 shares during the period. Tyers Asset Management LLC purchased a new position in shares of Laredo Petroleum during the first quarter valued at $167,000. Channing Capital Management LLC raised its position in shares of Laredo Petroleum by 1.3% in the first quarter. Channing Capital Management LLC now owns 2,243,314 shares of the oil and gas producer’s stock valued at $32,752,000 after buying an additional 27,792 shares during the period. Jennison Associates LLC raised its position in shares of Laredo Petroleum by 67.4% in the first quarter. Jennison Associates LLC now owns 3,023,757 shares of the oil and gas producer’s stock valued at $44,147,000 after buying an additional 1,217,421 shares during the period. Finally, Russell Investments Group Ltd. raised its position in shares of Laredo Petroleum by 16,137.4% in the first quarter. Russell Investments Group Ltd. now owns 34,261 shares of the oil and gas producer’s stock valued at $500,000 after buying an additional 34,050 shares during the period.
Laredo Petroleum Company Profile
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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