Capital One Financial Comments on Laredo Petroleum Inc’s Q3 2019 Earnings (NYSE:LPI)

Laredo Petroleum Inc (NYSE:LPI) – Capital One Financial boosted their Q3 2019 EPS estimates for shares of Laredo Petroleum in a research report …

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Laredo Petroleum Inc (NYSE:LPI) – Capital One Financial boosted their Q3 2019 EPS estimates for shares of Laredo Petroleum in a research report issued on Tuesday, October 22nd, according to Zacks Investment Research. Capital One Financial analyst R. Tullis now forecasts that the oil and gas producer will post earnings per share of $0.26 for the quarter, up from their previous estimate of $0.20. Capital One Financial also issued estimates for Laredo Petroleum’s Q4 2019 earnings at $0.24 EPS and FY2019 earnings at $0.85 EPS.

Laredo Petroleum (NYSE:LPI) last issued its quarterly earnings data on Wednesday, July 31st. The oil and gas producer reported $0.24 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.19 by $0.05. Laredo Petroleum had a return on equity of 15.59% and a net margin of 40.05%. The company had revenue of $216.60 million during the quarter, compared to analysts’ expectations of $213.24 million. During the same quarter in the previous year, the business earned $0.25 earnings per share. The firm’s revenue for the quarter was down 38.3% on a year-over-year basis.

Other equities research analysts have also recently issued research reports about the company. JPMorgan Chase & Co. upgraded Laredo Petroleum from an “underweight” rating to a “neutral” rating in a research note on Wednesday, July 31st. ValuEngine upgraded Laredo Petroleum from a “strong sell” rating to a “sell” rating in a research note on Wednesday, October 2nd. Zacks Investment Research cut Laredo Petroleum from a “buy” rating to a “hold” rating in a research note on Wednesday, October 16th. Williams Capital set a $4.50 price target on Laredo Petroleum and gave the stock a “buy” rating in a research note on Tuesday, October 15th. Finally, Credit Suisse Group upgraded Laredo Petroleum from an “underperform” rating to a “neutral” rating and set a $2.83 price target for the company in a research note on Tuesday, July 9th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $4.55.

Shares of NYSE LPI opened at $2.36 on Friday. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.77. Laredo Petroleum has a twelve month low of $2.03 and a twelve month high of $5.98. The stock has a 50 day moving average of $2.41 and a two-hundred day moving average of $2.78. The stock has a market cap of $588.92 million, a P/E ratio of 2.54 and a beta of 1.59.

In other news, major shareholder Warburg Pincus Llc sold 69,874 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The stock was 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 Securities & Exchange Commission, which is accessible through the SEC website. 3.00% of the stock is owned by corporate insiders.

A number of hedge funds have recently made changes to their positions in the stock. Texas Permanent School Fund grew its holdings in Laredo Petroleum by 17.7% during the third quarter. Texas Permanent School Fund now owns 122,840 shares of the oil and gas producer’s stock worth $296,000 after acquiring an additional 18,487 shares during the period. Comerica Bank grew its holdings in Laredo Petroleum by 20.3% during the third quarter. Comerica Bank now owns 169,396 shares of the oil and gas producer’s stock worth $405,000 after acquiring an additional 28,532 shares during the period. California Public Employees Retirement System grew its holdings in Laredo Petroleum by 22.3% during the third quarter. California Public Employees Retirement System now owns 280,807 shares of the oil and gas producer’s stock worth $677,000 after acquiring an additional 51,261 shares during the period. State of Tennessee Treasury Department grew its holdings in Laredo Petroleum by 26.4% during the third quarter. State of Tennessee Treasury Department now owns 156,847 shares of the oil and gas producer’s stock worth $378,000 after acquiring an additional 32,806 shares during the period. Finally, First Quadrant L P CA grew its holdings in Laredo Petroleum by 1,301.6% during the third quarter. First Quadrant L P CA now owns 78,827 shares of the oil and gas producer’s stock worth $190,000 after acquiring an additional 73,203 shares during the period. 94.72% of the stock is currently owned by hedge funds and other institutional investors.

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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