Analysts predict that Laredo Petroleum Inc (NYSE:LPI) will announce $212.15 million in sales for the current fiscal quarter, Zacks Investment Research reports. Four analysts have issued estimates for Laredo Petroleum’s earnings, with the lowest sales estimate coming in at $206.00 million and the highest estimate coming in at $222.69 million. Laredo Petroleum reported sales of $215.29 million during the same quarter last year, which would suggest a negative year over year growth rate of 1.5%. The business is scheduled to report its next quarterly earnings report on Wednesday, February 12th.
According to Zacks, analysts expect that Laredo Petroleum will report full year sales of $859.90 million for the current financial year, with estimates ranging from $828.00 million to $909.38 million. For the next fiscal year, analysts expect that the firm will post sales of $856.04 million, with estimates ranging from $809.28 million to $936.00 million. Zacks’ sales calculations are an average based on a survey of research firms that follow Laredo Petroleum.
Laredo Petroleum (NYSE:LPI) last announced its quarterly earnings data on Tuesday, November 5th. The oil and gas producer reported $0.21 EPS for the quarter, beating the consensus estimate of $0.19 by $0.02. Laredo Petroleum had a net margin of 5.87% and a return on equity of 13.81%. The business had revenue of $193.57 million during the quarter, compared to the consensus estimate of $215.83 million. During the same period in the previous year, the business earned $0.27 earnings per share.
In other Laredo Petroleum news, major shareholder Warburg Pincus Llc sold 69,874 shares of the business’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 legal filing with the SEC, which is available at this hyperlink. Insiders own 3.00% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the business. DekaBank Deutsche Girozentrale grew its stake in shares of Laredo Petroleum by 330.7% during the second quarter. DekaBank Deutsche Girozentrale now owns 52,882 shares of the oil and gas producer’s stock worth $154,000 after buying an additional 40,603 shares during the last quarter. Aperio Group LLC grew its stake in shares of Laredo Petroleum by 53.1% in the second quarter. Aperio Group LLC now owns 270,113 shares of the oil and gas producer’s stock worth $783,000 after purchasing an additional 93,693 shares during the last quarter. CoreCommodity Management LLC grew its stake in shares of Laredo Petroleum by 67.6% in the second quarter. CoreCommodity Management LLC now owns 633,436 shares of the oil and gas producer’s stock worth $1,837,000 after purchasing an additional 255,440 shares during the last quarter. Advisory Services Network LLC bought a new stake in shares of Laredo Petroleum in the second quarter worth $172,000. Finally, Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of Laredo Petroleum by 49.3% in the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,145,600 shares of the oil and gas producer’s stock worth $3,322,000 after purchasing an additional 378,300 shares during the last quarter. 94.72% of the stock is currently owned by hedge funds and other institutional investors.
LPI traded up $0.02 during trading on Thursday, hitting $2.60. 4,458,172 shares of the stock traded hands, compared to its average volume of 5,503,079. Laredo Petroleum has a twelve month low of $2.03 and a twelve month high of $5.84. The company has a market cap of $612.67 million, a price-to-earnings ratio of 2.80 and a beta of 1.62. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.13 and a quick ratio of 1.13. The business has a 50 day moving average price of $2.38 and a 200 day moving average price of $2.75.
About Laredo Petroleum
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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