Laredo Petroleum Inc. (NYSE:LPI) – Equities research analysts at Capital One Financial Corp. lowered their FY2016 EPS estimates for shares of Laredo Petroleum in a research report issued to clients and investors on Thursday. Capital One Financial Corp. analyst R. Tullis now expects that the brokerage will post earnings of $0.48 per share for the year, down from their prior estimate of $0.49. Capital One Financial Corp. has a “Overweight” rating and a $15.00 price target on the stock.
Laredo Petroleum (NYSE:LPI) last issued its quarterly earnings results on Wednesday, November 2nd. The company reported $0.12 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.12. The business had revenue of $159.70 million for the quarter, compared to analysts’ expectations of $150.09 million. Laredo Petroleum had a negative net margin of 225.04% and a positive return on equity of 274.30%. The business’s quarterly revenue was up 6.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.07 earnings per share.
LPI has been the subject of several other research reports. Zacks Investment Research raised shares of Laredo Petroleum from a “hold” rating to a “buy” rating and set a $15.00 target price for the company in a research note on Wednesday, October 5th. FBR & Co initiated coverage on shares of Laredo Petroleum in a research note on Tuesday, September 13th. They issued an “outperform” rating and a $14.00 target price for the company. Credit Suisse Group AG downgraded shares of Laredo Petroleum from a “neutral” rating to an “underperform” rating and set a $9.00 target price for the company. in a research note on Thursday, October 13th. KLR Group boosted their target price on shares of Laredo Petroleum from $11.00 to $13.00 and gave the company a “hold” rating in a research note on Thursday, September 8th. Finally, Barclays PLC boosted their target price on shares of Laredo Petroleum from $14.00 to $15.00 and gave the company an “overweight” rating in a research note on Friday, August 5th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and seven have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $12.61.
Shares of Laredo Petroleum (NYSE:LPI) traded down 3.03% during mid-day trading on Friday, hitting $12.80. 3,702,076 shares of the stock traded hands. Laredo Petroleum has a one year low of $3.90 and a one year high of $13.93. The stock has a 50 day moving average price of $12.58 and a 200-day moving average price of $11.71. The company’s market cap is $2.85 billion.
Several institutional investors have recently made changes to their positions in the stock. Comerica Bank raised its position in shares of Laredo Petroleum by 3.7% in the second quarter. Comerica Bank now owns 13,035 shares of the company’s stock worth $146,000 after buying an additional 462 shares during the last quarter. Alliancebernstein L.P. raised its position in shares of Laredo Petroleum by 1.1% in the second quarter. Alliancebernstein L.P. now owns 80,386 shares of the company’s stock worth $842,000 after buying an additional 850 shares during the last quarter. Commonwealth Equity Services Inc raised its position in shares of Laredo Petroleum by 1.0% in the second quarter. Commonwealth Equity Services Inc now owns 99,172 shares of the company’s stock worth $1,039,000 after buying an additional 1,000 shares during the last quarter. IBM Retirement Fund raised its position in shares of Laredo Petroleum by 8.8% in the second quarter. IBM Retirement Fund now owns 13,548 shares of the company’s stock worth $142,000 after buying an additional 1,099 shares during the last quarter. Finally, State of Wisconsin Investment Board raised its position in shares of Laredo Petroleum by 2.1% in the second quarter. State of Wisconsin Investment Board now owns 87,380 shares of the company’s stock worth $916,000 after buying an additional 1,800 shares during the last quarter. 99.24% of the stock is currently owned by institutional investors.
In related news, VP Patrick J. Curth sold 17,000 shares of the business’s stock in a transaction that occurred on Monday, August 29th. The stock was sold at an average price of $12.57, for a total transaction of $213,690.00. Following the transaction, the vice president now directly owns 172,926 shares of the company’s stock, valued at approximately $2,173,679.82. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.50% of the company’s stock.
Laredo Petroleum Company Profile
Laredo Petroleum, Inc (Laredo) is an independent energy company 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. The Company’s segments include Exploration and production, and Midstream and marketing.