Laredo Petroleum, Inc. to Post Q1 2022 Earnings of $5.73 Per Share, Capital One Financial Forecasts (NYSE:LPI)

Laredo Petroleum, Inc. (NYSE:LPI – Get Rating) – Capital One Financial reduced their Q1 2022 earnings estimates for shares of Laredo Petroleum in a research note issued on Sunday, April 10th. Capital One Financial analyst B. Velie now anticipates that the oil and gas producer will earn $5.73 per share for the quarter, down from their prior forecast of $6.26. Capital One Financial also issued estimates for Laredo Petroleum’s FY2022 earnings at $25.50 EPS.

Laredo Petroleum (NYSE:LPI – Get Rating) last announced its quarterly earnings data on Tuesday, February 22nd. The oil and gas producer reported $3.39 earnings per share for the quarter, topping analysts’ consensus estimates of $3.32 by $0.07. Laredo Petroleum had a net margin of 10.40% and a return on equity of 101.15%. The company had revenue of $470.22 million during the quarter, compared to analyst estimates of $438.95 million. During the same period in the previous year, the business earned $3.23 EPS. The firm’s revenue for the quarter was up 150.0% on a year-over-year basis.

A number of other equities research analysts also recently commented on LPI. TheStreet raised shares of Laredo Petroleum from a “d” rating to a “c” rating in a research report on Tuesday, February 22nd. Piper Sandler raised shares of Laredo Petroleum from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $93.00 to $115.00 in a research report on Thursday, April 7th. Siebert Williams Shank raised shares of Laredo Petroleum from a “hold” rating to a “buy” rating and lifted their target price for the stock from $86.00 to $120.00 in a research report on Thursday, March 3rd. Wells Fargo & Company lifted their target price on shares of Laredo Petroleum from $113.00 to $116.00 and gave the stock an “underweight” rating in a research report on Wednesday. Finally, Zacks Investment Research downgraded shares of Laredo Petroleum from a “buy” rating to a “hold” rating in a research report on Tuesday, March 15th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $105.80.

Shares of NYSE LPI opened at $84.11 on Wednesday. Laredo Petroleum has a twelve month low of $32.52 and a twelve month high of $99.26. The firm has a market cap of $1.46 billion, a P/E ratio of 18.28 and a beta of 3.86. The company has a 50 day moving average of $75.39 and a 200 day moving average of $72.58. The company has a quick ratio of 0.45, a current ratio of 0.45 and a debt-to-equity ratio of 2.78.

A number of institutional investors have recently modified their holdings of LPI. First Trust Advisors LP boosted its holdings in 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 worth $1,821,000 after buying an additional 260,525 shares during the period. Wells Fargo & Company MN boosted its holdings in Laredo Petroleum by 1,900.6% in the 2nd quarter. Wells Fargo & Company MN now owns 13,744 shares of the oil and gas producer’s stock worth $1,275,000 after buying an additional 13,057 shares during the period. Morgan Stanley boosted its holdings in Laredo Petroleum by 49.4% in the 2nd quarter. Morgan Stanley now owns 267,846 shares of the oil and gas producer’s stock worth $24,854,000 after buying an additional 88,591 shares during the period. Parametric Portfolio Associates LLC boosted its holdings in Laredo Petroleum by 13.1% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 19,547 shares of the oil and gas producer’s stock worth $1,814,000 after buying an additional 2,259 shares during the period. Finally, Thrivent Financial for Lutherans boosted its holdings in Laredo Petroleum by 6.8% in the 2nd quarter. Thrivent Financial for Lutherans now owns 7,909 shares of the oil and gas producer’s stock worth $734,000 after buying an additional 504 shares during the period. 79.22% of the stock is owned by institutional investors.

In related news, COO Tommye Karen Chandler sold 10,991 shares of the company’s stock in a transaction on Thursday, March 10th. The shares were sold at an average price of $76.23, for a total value of $837,843.93. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Mark David Denny sold 2,626 shares of the company’s stock in a transaction on Friday, April 1st. The stock was sold at an average price of $78.92, for a total transaction of $207,243.92. The disclosure for this sale can be found here. In the last three months, insiders have sold 34,867 shares of company stock valued at $2,689,516. Insiders own 3.30% 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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