Brokerages Anticipate Laredo Petroleum, Inc. (NYSE:LPI) to Announce $6.33 EPS

Wall Street brokerages expect Laredo Petroleum, Inc. (NYSE:LPI – Get Rating) to report $6.33 earnings per share for the current quarter, Zacks reports. Five analysts have issued estimates for Laredo Petroleum’s earnings, with estimates ranging from $5.16 to $7.62. Laredo Petroleum reported earnings per share of $1.71 during the same quarter last year, which would indicate a positive year over year growth rate of 270.2%. The company is scheduled to report its next quarterly earnings report after the market closes on Monday, January 1st.

According to Zacks, analysts expect that Laredo Petroleum will report full year earnings of $32.35 per share for the current financial year, with EPS estimates ranging from $25.50 to $39.33. For the next year, analysts anticipate that the business will report earnings of $50.99 per share, with EPS estimates ranging from $33.14 to $78.91. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of analysts that follow Laredo Petroleum.

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

Several brokerages have commented on LPI. TheStreet upgraded Laredo Petroleum from a “d” rating to a “c” rating in a research note on Tuesday, February 22nd. Piper Sandler raised Laredo Petroleum from a “neutral” rating to an “overweight” rating and increased their price target for the company from $93.00 to $115.00 in a report on Thursday, April 7th. Siebert Williams Shank raised Laredo Petroleum from a “hold” rating to a “buy” rating and increased their price target for the company from $86.00 to $120.00 in a report on Thursday, March 3rd. StockNews.com began coverage on Laredo Petroleum in a report on Thursday, March 31st. They set a “hold” rating on the stock. Finally, Wells Fargo & Company increased their price target on Laredo Petroleum from $113.00 to $116.00 and gave the company an “underweight” rating in a report on Wednesday, April 13th. One analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $113.00.

LPI traded up $0.99 during trading on Tuesday, hitting $75.16. 27,222 shares of the company’s stock traded hands, compared to its average volume of 847,282. The company’s 50 day simple moving average is $77.18 and its two-hundred day simple moving average is $72.32. The company has a current ratio of 0.45, a quick ratio of 0.45 and a debt-to-equity ratio of 2.78. Laredo Petroleum has a 12-month low of $33.25 and a 12-month high of $99.26. The stock has a market capitalization of $1.30 billion, a price-to-earnings ratio of 16.34 and a beta of 3.86.

In related news, SVP Mark David Denny sold 2,626 shares of the business’s stock in a transaction that occurred on Friday, April 1st. The shares were sold at an average price of $78.92, for a total value of $207,243.92. Following the completion of the transaction, the senior vice president now owns 23,785 shares of the company’s stock, valued at $1,877,112.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO M. Jason Pigott sold 5,531 shares of Laredo Petroleum stock in a transaction on Thursday, March 24th. The stock was sold at an average price of $75.00, for a total transaction of $414,825.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 34,867 shares of company stock worth $2,689,516. 3.30% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. EnCap Energy Capital Fund IX L.P. acquired a new position in shares of Laredo Petroleum in the third quarter worth about $177,629,000. BlackRock Inc. boosted its position in shares of Laredo Petroleum by 9.3% during the 4th quarter. BlackRock Inc. now owns 2,161,866 shares of the oil and gas producer’s stock worth $129,991,000 after purchasing an additional 183,927 shares during the period. State Street Corp boosted its position in shares of Laredo Petroleum by 10.1% during the 4th quarter. State Street Corp now owns 1,577,459 shares of the oil and gas producer’s stock worth $94,853,000 after purchasing an additional 144,462 shares during the period. Maple Rock Capital Partners Inc. boosted its position in shares of Laredo Petroleum by 74.1% during the 3rd quarter. Maple Rock Capital Partners Inc. now owns 714,000 shares of the oil and gas producer’s stock worth $57,884,000 after purchasing an additional 304,000 shares during the period. Finally, First Trust Advisors LP boosted its position in shares of Laredo Petroleum by 79.2% during 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 purchasing an additional 260,525 shares during the period. Institutional investors own 79.22% of the company’s stock.

About Laredo Petroleum (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.

Recommended Stories