Wall Street analysts predict that Laredo Petroleum Inc (NYSE:LPI) will post $199.33 million in sales for the current quarter, Zacks Investment Research reports. Six analysts have provided estimates for Laredo Petroleum’s earnings, with estimates ranging from $170.00 million to $233.82 million. Laredo Petroleum reported sales of $279.75 million during the same quarter last year, which would suggest a negative year-over-year growth rate of 28.7%. The business is scheduled to report its next earnings results on Monday, November 4th.

On average, analysts expect that Laredo Petroleum will report full year sales of $800.70 million for the current financial year, with estimates ranging from $670.00 million to $903.85 million. For the next fiscal year, analysts expect that the business will post sales of $853.26 million, with estimates ranging from $717.00 million to $1.01 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover Laredo Petroleum.

Laredo Petroleum (NYSE:LPI) last issued its quarterly earnings results on Wednesday, July 31st. The oil and gas producer reported $0.24 EPS for the quarter, topping the consensus estimate of $0.19 by $0.05. The company had revenue of $216.60 million during the quarter, compared to analyst estimates of $213.24 million. Laredo Petroleum had a net margin of 40.05% and a return on equity of 15.59%. The firm’s revenue was down 38.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.25 EPS.

Several equities research analysts recently commented on the stock. JPMorgan Chase & Co. raised shares of Laredo Petroleum from an “underweight” rating to a “neutral” rating in a report on Wednesday, July 31st. Credit Suisse Group raised shares of Laredo Petroleum from an “underperform” rating to a “neutral” rating and set a $2.83 price target for the company in a report on Tuesday, July 9th. They noted that the move was a valuation call. Williams Capital raised shares of Laredo Petroleum from a “hold” rating to a “buy” rating and boosted their price target for the stock from $4.00 to $5.50 in a report on Thursday, May 16th. Zacks Investment Research lowered shares of Laredo Petroleum from a “buy” rating to a “hold” rating in a report on Wednesday, July 24th. Finally, Robert W. Baird raised shares of Laredo Petroleum from a “neutral” rating to an “outperform” rating and boosted their price target for the stock from $3.00 to $7.00 in a report on Thursday, May 9th. Seven research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $4.80.

In other news, major shareholder Warburg Pincus Llc sold 69,874 shares of the company’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $2.76, for a total transaction of $192,852.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 3.00% of the stock is owned by corporate insiders.

Institutional investors have recently added to or reduced their stakes in the company. Northern Trust Corp boosted its holdings in Laredo Petroleum by 1.2% in the 4th quarter. Northern Trust Corp now owns 1,993,735 shares of the oil and gas producer’s stock valued at $7,218,000 after purchasing an additional 23,566 shares during the period. Geode Capital Management LLC boosted its holdings in Laredo Petroleum by 9.7% in the 4th quarter. Geode Capital Management LLC now owns 1,580,585 shares of the oil and gas producer’s stock valued at $5,721,000 after purchasing an additional 140,041 shares during the period. Two Sigma Advisers LP bought a new position in Laredo Petroleum in the 4th quarter valued at $514,000. MML Investors Services LLC bought a new position in Laredo Petroleum in the 4th quarter valued at $147,000. Finally, Metropolitan Life Insurance Co. NY boosted its holdings in Laredo Petroleum by 356.6% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 51,369 shares of the oil and gas producer’s stock valued at $186,000 after purchasing an additional 40,119 shares during the period. 96.06% of the stock is owned by institutional investors and hedge funds.

NYSE LPI traded down $0.13 on Thursday, hitting $2.67. The company had a trading volume of 3,612,211 shares, compared to its average volume of 5,520,011. The company has a market capitalization of $657.79 million, a PE ratio of 2.87 and a beta of 1.46. The company’s fifty day moving average price is $2.88 and its 200-day moving average price is $3.10. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.13 and a quick ratio of 1.13. Laredo Petroleum has a 12-month low of $2.38 and a 12-month high of $9.03.

Laredo Petroleum Company Profile

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.

See Also: What are the qualifications of a portfolio manager?

Get a free copy of the Zacks research report on Laredo Petroleum (LPI)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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

Receive News & Ratings for Laredo Petroleum Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Laredo Petroleum and related companies with MarketBeat.com's FREE daily email newsletter.