Laredo Petroleum Inc (NYSE:LPI) – Analysts at Piper Jaffray Companies upped their Q4 2019 EPS estimates for Laredo Petroleum in a research note issued on Sunday, October 20th. Piper Jaffray Companies analyst K. Harrison now anticipates that the oil and gas producer will post earnings per share of $0.24 for the quarter, up from their prior forecast of $0.22. Piper Jaffray Companies also issued estimates for Laredo Petroleum’s Q1 2020 earnings at $0.19 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, topping the consensus estimate of $0.19 by $0.05. Laredo Petroleum had a net margin of 40.05% and a return on equity of 15.59%. The company had revenue of $216.60 million for the quarter, compared to analysts’ expectations of $213.24 million. During the same quarter in the previous year, the firm posted $0.25 earnings per share. Laredo Petroleum’s revenue for the quarter was down 38.3% on a year-over-year basis.
Shares of Laredo Petroleum stock opened at $2.39 on Wednesday. The company has a quick ratio of 1.13, a current 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 $6.00. The stock has a market cap of $550.93 million, a price-to-earnings ratio of 2.94 and a beta of 1.59. The company’s fifty day moving average is $2.44 and its 200 day moving average is $2.81.
In related news, major shareholder Warburg Pincus Llc sold 69,874 shares of the business’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $2.76, for a total value of $192,852.24. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 3.00% of the stock is owned by insiders.
A number of hedge funds have recently added to or reduced their stakes in LPI. Brookstone Capital Management purchased a new stake in Laredo Petroleum in the 3rd quarter worth approximately $62,000. Denali Advisors LLC lifted its stake in Laredo Petroleum by 162.3% in the 3rd quarter. Denali Advisors LLC now owns 815,357 shares of the oil and gas producer’s stock worth $1,965,000 after purchasing an additional 504,563 shares in the last quarter. Cerebellum GP LLC purchased a new stake in Laredo Petroleum in the 3rd quarter worth approximately $80,000. State of Alaska Department of Revenue lifted its stake in Laredo Petroleum by 164.9% in the 3rd quarter. State of Alaska Department of Revenue now owns 138,639 shares of the oil and gas producer’s stock worth $334,000 after purchasing an additional 86,296 shares in the last quarter. Finally, Luminus Management LLC lifted its stake in Laredo Petroleum by 286.6% in the 2nd quarter. Luminus Management LLC now owns 10,695,485 shares of the oil and gas producer’s stock worth $31,017,000 after purchasing an additional 7,929,185 shares in the last quarter. Institutional investors and hedge funds own 94.79% of the company’s stock.
Laredo Petroleum Company Profile
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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