Capital One Financial Weighs in on Laredo Petroleum Inc’s FY2018 Earnings (LPI)

Laredo Petroleum Inc (NYSE:LPI) – Equities researchers at Capital One Financial dropped their FY2018 EPS estimates for shares of Laredo Petroleum in a note issued to investors on Wednesday, November 7th. Capital One Financial analyst R. Tullis now expects that the oil and gas producer will post earnings per share of $1.02 for the year, down from their prior forecast of $1.05. Capital One Financial also issued estimates for Laredo Petroleum’s Q4 2018 earnings at $0.26 EPS, Q1 2019 earnings at $0.27 EPS, Q2 2019 earnings at $0.30 EPS, Q3 2019 earnings at $0.33 EPS, Q4 2019 earnings at $0.36 EPS and FY2019 earnings at $1.26 EPS.

Laredo Petroleum (NYSE:LPI) last issued its quarterly earnings results on Monday, November 5th. The oil and gas producer reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.30 by ($0.03). Laredo Petroleum had a net margin of 51.61% and a return on equity of 25.16%. The firm had revenue of $279.70 million for the quarter, compared to the consensus estimate of $276.95 million. During the same quarter in the prior year, the firm earned $0.13 earnings per share. The company’s revenue was up 35.9% on a year-over-year basis.

Several other equities analysts have also issued reports on the company. Williams Capital restated a “hold” rating and set a $10.00 price target on shares of Laredo Petroleum in a research note on Tuesday, August 21st. Piper Jaffray Companies set a $14.00 price target on Laredo Petroleum and gave the company a “buy” rating in a research note on Sunday, August 5th. Bank of America lowered their price target on Laredo Petroleum from $12.00 to $11.00 and set an “underperform” rating on the stock in a research note on Thursday, August 2nd. Finally, Zacks Investment Research lowered Laredo Petroleum from a “buy” rating to a “hold” rating in a research note on Thursday, November 1st. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have assigned a buy rating to the stock. Laredo Petroleum has an average rating of “Hold” and a consensus target price of $11.79.

Shares of LPI opened at $5.60 on Thursday. Laredo Petroleum has a 12-month low of $4.82 and a 12-month high of $11.68. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.60 and a current ratio of 0.60. The stock has a market cap of $1.34 billion, a P/E ratio of 9.33, a PEG ratio of 1.04 and a beta of 1.59.

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

Several hedge funds have recently added to or reduced their stakes in the company. Trexquant Investment LP bought a new stake in shares of Laredo Petroleum in the 3rd quarter valued at approximately $519,000. DekaBank Deutsche Girozentrale grew its stake in shares of Laredo Petroleum by 354.8% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 12,279 shares of the oil and gas producer’s stock valued at $102,000 after purchasing an additional 9,579 shares during the period. American International Group Inc. grew its position in Laredo Petroleum by 20.2% during the 3rd quarter. American International Group Inc. now owns 121,837 shares of the oil and gas producer’s stock worth $995,000 after acquiring an additional 20,482 shares during the last quarter. BlackRock Inc. grew its position in Laredo Petroleum by 118.3% during the 3rd quarter. BlackRock Inc. now owns 22,944,636 shares of the oil and gas producer’s stock worth $187,459,000 after acquiring an additional 12,434,795 shares during the last quarter. Finally, Martingale Asset Management L P grew its position in Laredo Petroleum by 1,759.6% during the 3rd quarter. Martingale Asset Management L P now owns 191,594 shares of the oil and gas producer’s stock worth $1,566,000 after acquiring an additional 181,291 shares during the last quarter.

Laredo Petroleum Company Profile

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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