Laredo Petroleum Inc (NYSE:LPI) – Analysts at Capital One Financial dropped their Q2 2020 earnings estimates for Laredo Petroleum in a report issued on Wednesday, June 24th. Capital One Financial analyst R. Tullis now expects that the oil and gas producer will post earnings of $1.23 per share for the quarter, down from their previous forecast of $1.40. Capital One Financial has a “Overweight” rating and a $30.00 price target on the stock. Capital One Financial also issued estimates for Laredo Petroleum’s Q3 2020 earnings at $1.32 EPS.
Laredo Petroleum (NYSE:LPI) last issued its earnings results on Wednesday, May 6th. The oil and gas producer reported $1.80 EPS for the quarter, missing the Zacks’ consensus estimate of $2.00 by ($0.20). The business had revenue of $204.99 million during the quarter, compared to analysts’ expectations of $184.46 million. Laredo Petroleum had a negative net margin of 11.74% and a positive return on equity of 15.20%.
A number of other brokerages have also recently weighed in on LPI. Raymond James cut Laredo Petroleum from an “outperform” rating to a “market perform” rating in a research report on Monday, March 9th. Zacks Investment Research raised Laredo Petroleum from a “hold” rating to a “buy” rating and set a $17.00 target price for the company in a research report on Tuesday, June 23rd. MKM Partners raised their target price on Laredo Petroleum from $32.00 to $36.00 in a research report on Wednesday, June 3rd. Siebert Williams Shank reiterated a “hold” rating and set a $14.00 price objective on shares of Laredo Petroleum in a report on Tuesday, June 2nd. Finally, Wells Fargo & Co boosted their price target on Laredo Petroleum from $20.00 to $21.00 and gave the stock an “equal weight” rating in a research report on Thursday, June 25th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $46.29.
Shares of LPI stock opened at $13.45 on Monday. The firm has a market cap of $161.00 million, a P/E ratio of -1.60 and a beta of 4.22. The company has a debt-to-equity ratio of 1.18, a current ratio of 2.30 and a quick ratio of 2.30. Laredo Petroleum has a 1-year low of $6.60 and a 1-year high of $68.50. The firm has a fifty day moving average of $16.85 and a two-hundred day moving average of $26.19.
Institutional investors and hedge funds have recently bought and sold shares of the company. Acadian Asset Management LLC bought a new stake in shares of Laredo Petroleum in the fourth quarter valued at approximately $25,000. L & S Advisors Inc bought a new stake in shares of Laredo Petroleum in the first quarter valued at approximately $30,000. Two Sigma Securities LLC bought a new stake in shares of Laredo Petroleum in the first quarter valued at approximately $34,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in shares of Laredo Petroleum by 48.4% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 90,674 shares of the oil and gas producer’s stock valued at $34,000 after acquiring an additional 29,575 shares during the period. Finally, Cetera Investment Advisers bought a new stake in shares of Laredo Petroleum in the first quarter valued at approximately $38,000. 84.01% of the stock is owned by institutional investors.
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.
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