Equities research analysts forecast that Laredo Petroleum, Inc. (NYSE:LPI – Get Rating) will post sales of $426.68 million for the current fiscal quarter, according to Zacks. Five analysts have issued estimates for Laredo Petroleum’s earnings, with the lowest sales estimate coming in at $358.00 million and the highest estimate coming in at $576.00 million. Laredo Petroleum reported sales of $294.37 million in the same quarter last year, which indicates a positive year-over-year growth rate of 44.9%. The business is scheduled to issue its next earnings report on Monday, January 1st.
On average, analysts expect that Laredo Petroleum will report full year sales of $1.68 billion for the current year, with estimates ranging from $1.41 billion to $2.27 billion. For the next financial year, analysts anticipate that the firm will post sales of $1.90 billion, with estimates ranging from $1.54 billion to $2.10 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research firms that that provide coverage for Laredo Petroleum.
Laredo Petroleum (NYSE:LPI – Get Rating) last issued its earnings results on Wednesday, May 4th. The oil and gas producer reported $5.17 EPS for the quarter, missing analysts’ consensus estimates of $6.21 by ($1.04). Laredo Petroleum had a net margin of 7.97% and a return on equity of 78.66%. The firm had revenue of $532.40 million during the quarter, compared to analyst estimates of $497.95 million. During the same quarter in the previous year, the company posted $1.71 earnings per share. The business’s revenue for the quarter was up 112.8% compared to the same quarter last year.
In related news, CEO M. Jason Pigott sold 5,531 shares of the 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 $421,628.13. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Mark David Denny sold 2,626 shares of the 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 sale, the senior vice president now directly owns 23,785 shares of the company’s stock, valued at $1,877,112.20. The disclosure for this sale can be found here. Over the last three months, insiders sold 37,493 shares of company stock valued at $2,872,548. Company insiders own 2.20% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of the stock. First Trust Advisors LP increased its position in Laredo Petroleum by 79.2% in the first 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 last quarter. Wells Fargo & Company MN increased its position in Laredo Petroleum by 1,900.6% in the second 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 last quarter. Morgan Stanley increased its position in Laredo Petroleum by 49.4% in the second 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 last quarter. PNC Financial Services Group Inc. increased its position in Laredo Petroleum by 21.7% in the third quarter. PNC Financial Services Group Inc. now owns 1,614 shares of the oil and gas producer’s stock worth $130,000 after buying an additional 288 shares during the last quarter. Finally, Russell Investments Group Ltd. increased its position in Laredo Petroleum by 39.5% in the third quarter. Russell Investments Group Ltd. now owns 20,631 shares of the oil and gas producer’s stock worth $1,671,000 after buying an additional 5,838 shares during the last quarter. 73.49% of the stock is owned by institutional investors.
Laredo Petroleum stock opened at $63.58 on Wednesday. The business’s 50-day simple moving average is $74.79 and its 200 day simple moving average is $70.76. The stock has a market cap of $1.10 billion, a price-to-earnings ratio of 10.96 and a beta of 3.66. Laredo Petroleum has a 12-month low of $36.25 and a 12-month high of $99.26. The company has a quick ratio of 0.45, a current ratio of 0.39 and a debt-to-equity ratio of 3.36.
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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