Wall Street brokerages expect Laredo Petroleum Inc (NYSE:LPI) to post sales of $269.26 million for the current fiscal quarter, according to Zacks. Six analysts have made estimates for Laredo Petroleum’s earnings. The lowest sales estimate is $219.20 million and the highest is $364.92 million. Laredo Petroleum posted sales of $205.82 million in the same quarter last year, which would indicate a positive year over year growth rate of 30.8%. The firm is expected to report its next earnings results on Wednesday, November 7th.

On average, analysts expect that Laredo Petroleum will report full year sales of $1.08 billion for the current financial year, with estimates ranging from $822.00 million to $1.35 billion. For the next financial year, analysts forecast that the firm will report sales of $1.16 billion, with estimates ranging from $952.47 million to $1.61 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that cover Laredo Petroleum.

Laredo Petroleum (NYSE:LPI) last released its quarterly earnings data on Wednesday, August 1st. The oil and gas producer reported $0.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.29 by ($0.04). Laredo Petroleum had a return on equity of 25.80% and a net margin of 51.05%. The business had revenue of $351.05 million for the quarter, compared to analysts’ expectations of $225.75 million. During the same quarter in the prior year, the firm earned $0.10 earnings per share. Laredo Petroleum’s quarterly revenue was up 87.7% compared to the same quarter last year.

LPI has been the subject of several research reports. Bank of America decreased their price objective on shares of Laredo Petroleum from $12.00 to $11.00 and set an “underperform” rating for the company in a research note on Thursday, August 2nd. Piper Jaffray Companies set a $14.00 price objective on shares of Laredo Petroleum and gave the stock a “buy” rating in a research note on Sunday, August 5th. Finally, Williams Capital reiterated a “hold” rating and set a $10.00 price objective on shares of Laredo Petroleum in a research note on Tuesday, August 21st. Three analysts have rated the stock with a sell rating, ten have given a hold rating and four have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $12.43.

LPI traded down $0.23 during trading on Friday, hitting $6.30. 8,201,800 shares of the company’s stock were exchanged, compared to its average volume of 4,251,068. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 0.94. Laredo Petroleum has a 1 year low of $6.01 and a 1 year high of $12.65. The company has a market cap of $1.92 billion, a P/E ratio of 10.58, a P/E/G ratio of 1.44 and a beta of 1.21.

In other news, major shareholder Pincus Private Equity Warburg sold 14,200,000 shares of the company’s stock in a transaction on Tuesday, September 11th. The shares were sold at an average price of $7.42, for a total value of $105,364,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Peter Kagan sold 12,300,000 shares of the company’s stock in a transaction on Thursday, September 27th. The shares were sold at an average price of $8.08, for a total transaction of $99,384,000.00. Following the completion of the transaction, the director now owns 115,107 shares of the company’s stock, valued at $930,064.56. The disclosure for this sale can be found here. 2.20% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of LPI. BlackRock Inc. raised its holdings in Laredo Petroleum by 60.3% in the second quarter. BlackRock Inc. now owns 10,509,841 shares of the oil and gas producer’s stock valued at $101,104,000 after acquiring an additional 3,954,104 shares in the last quarter. LSV Asset Management raised its holdings in Laredo Petroleum by 267.0% in the second quarter. LSV Asset Management now owns 3,452,709 shares of the oil and gas producer’s stock valued at $33,215,000 after acquiring an additional 2,512,009 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in Laredo Petroleum by 52.4% in the second quarter. Dimensional Fund Advisors LP now owns 7,234,971 shares of the oil and gas producer’s stock valued at $69,599,000 after acquiring an additional 2,487,113 shares in the last quarter. Thompson Siegel & Walmsley LLC acquired a new stake in Laredo Petroleum in the second quarter valued at $17,730,000. Finally, Schroder Investment Management Group raised its holdings in Laredo Petroleum by 222.0% in the second quarter. Schroder Investment Management Group now owns 2,060,930 shares of the oil and gas producer’s stock valued at $19,352,000 after acquiring an additional 1,420,930 shares in the last quarter.

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

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