Laredo Petroleum, Inc. (NYSE:LPI – Get Rating) – Stock analysts at Capital One Financial upped their Q3 2022 earnings estimates for shares of Laredo Petroleum in a note issued to investors on Wednesday, May 18th. Capital One Financial analyst B. Velie now anticipates that the oil and gas producer will post earnings of $7.27 per share for the quarter, up from their prior forecast of $6.71. Capital One Financial also issued estimates for Laredo Petroleum’s Q4 2022 earnings at $7.86 EPS.
Several other equities analysts also recently issued reports on the stock. Wells Fargo & Company increased their price objective on shares of Laredo Petroleum from $113.00 to $116.00 and gave the company an “underweight” rating in a report on Wednesday, April 13th. Raymond James increased their price objective on shares of Laredo Petroleum from $100.00 to $120.00 and gave the company an “outperform” rating in a report on Monday, April 25th. Zacks Investment Research downgraded shares of Laredo Petroleum from a “buy” rating to a “hold” rating in a report on Saturday, April 23rd. StockNews.com began coverage on shares of Laredo Petroleum in a research report on Thursday, March 31st. They set a “hold” rating for the company. Finally, Piper Sandler cut their price objective on shares of Laredo Petroleum to $117.00 and set a “na” rating for the company in a research report on Wednesday. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat, Laredo Petroleum has an average rating of “Hold” and a consensus target price of $113.40.
LPI opened at $62.93 on Friday. The company has a quick ratio of 0.45, a current ratio of 0.39 and a debt-to-equity ratio of 3.36. The company has a market cap of $1.09 billion, a price-to-earnings ratio of 10.94 and a beta of 3.66. Laredo Petroleum has a 52-week low of $36.25 and a 52-week high of $99.26. The firm’s fifty day simple moving average is $74.04 and its two-hundred day simple moving average is $70.56.
Laredo Petroleum (NYSE:LPI – Get Rating) last announced its quarterly earnings results on Wednesday, May 4th. The oil and gas producer reported $5.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $6.21 by ($1.04). Laredo Petroleum had a return on equity of 78.66% and a net margin of 7.97%. The firm had revenue of $532.40 million for the quarter, compared to analysts’ expectations of $497.95 million. During the same period last year, the company posted $1.71 earnings per share. The business’s quarterly revenue was up 112.8% on a year-over-year basis.
Several large investors have recently modified their holdings of the company. BlackRock Inc. lifted its position in shares of Laredo Petroleum by 2.2% during the 1st quarter. BlackRock Inc. now owns 2,209,331 shares of the oil and gas producer’s stock worth $174,846,000 after buying an additional 47,465 shares during the last quarter. State Street Corp increased its holdings in shares of Laredo Petroleum by 32.2% in the 1st quarter. State Street Corp now owns 2,085,000 shares of the oil and gas producer’s stock valued at $165,007,000 after acquiring an additional 507,541 shares during the period. Maple Rock Capital Partners Inc. increased its holdings in shares of Laredo Petroleum by 74.1% in the 3rd quarter. Maple Rock Capital Partners Inc. now owns 714,000 shares of the oil and gas producer’s stock valued at $57,884,000 after acquiring an additional 304,000 shares during the period. First Trust Advisors LP increased its holdings in shares of Laredo Petroleum by 79.2% in the 1st quarter. First Trust Advisors LP now owns 589,417 shares of the oil and gas producer’s stock valued at $1,821,000 after acquiring an additional 260,525 shares during the period. Finally, JB Investments Management LLC increased its holdings in shares of Laredo Petroleum by 3.9% in the 4th quarter. JB Investments Management LLC now owns 398,170 shares of the oil and gas producer’s stock valued at $23,942,000 after acquiring an additional 15,100 shares during the period. Institutional investors and hedge funds own 73.49% of the company’s stock.
In other news, CFO Bryan Lemmerman sold 4,657 shares of the firm’s stock in a transaction that occurred on Thursday, March 10th. The shares were sold at an average price of $76.25, for a total value of $355,096.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Tommye Karen Chandler sold 10,991 shares of Laredo Petroleum stock in a transaction that occurred on Thursday, March 10th. The stock was sold at an average price of $76.23, for a total transaction of $837,843.93. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 37,493 shares of company stock valued at $2,872,548. Company insiders own 2.20% of the company’s stock.
Laredo Petroleum Company Profile (Get Rating)
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 sells oil, natural gas liquids, and natural gas. As of December 31, 2021, it had assembled 166,064 net acres in the Permian Basin; and had total proved undeveloped reserves of 86,592 thousand barrels of oil equivalent.
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