Laredo Petroleum, Inc. (NYSE:LPI – Get Rating) – Equities researchers at Seaport Res Ptn decreased their Q4 2022 earnings per share estimates for shares of Laredo Petroleum in a report released on Wednesday, September 21st. Seaport Res Ptn analyst N. Pope now forecasts that the oil and gas producer will post earnings of $6.41 per share for the quarter, down from their previous forecast of $6.94. The consensus estimate for Laredo Petroleum's current full-year earnings is $25.81 per share.
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Several other equities research analysts also recently weighed in on LPI. Piper Sandler raised their price target on shares of Laredo Petroleum from $117.00 to $120.00 and gave the company an "overweight" rating in a research report on Friday, July 22nd. Wells Fargo & Company boosted their price target on Laredo Petroleum from $113.00 to $125.00 and gave the stock an "underweight" rating in a research note on Monday, July 11th. Finally, Raymond James dropped their price objective on Laredo Petroleum from $110.00 to $95.00 and set an "outperform" rating on the stock in a research report on Thursday, August 18th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $115.00.
Laredo Petroleum Stock Down 1.3 %
Shares of Laredo Petroleum stock opened at $63.44 on Thursday. The company has a 50-day simple moving average of $73.57 and a two-hundred day simple moving average of $76.35. The stock has a market capitalization of $1.10 billion, a PE ratio of 2.01 and a beta of 3.52. Laredo Petroleum has a 52-week low of $51.22 and a 52-week high of $120.86. The company has a debt-to-equity ratio of 1.90, a quick ratio of 0.47 and a current ratio of 0.47.
Institutional Inflows and Outflows
Hedge funds have recently made changes to their positions in the stock. Captrust Financial Advisors lifted its holdings in Laredo Petroleum by 15.8% during the second quarter. Captrust Financial Advisors now owns 1,386 shares of the oil and gas producer's stock valued at $96,000 after purchasing an additional 189 shares in the last quarter. Royal Bank of Canada increased its stake in Laredo Petroleum by 4.7% in the 1st quarter. Royal Bank of Canada now owns 4,298 shares of the oil and gas producer's stock worth $340,000 after buying an additional 192 shares in the last quarter. Nisa Investment Advisors LLC raised its holdings in Laredo Petroleum by 57.5% during the second quarter. Nisa Investment Advisors LLC now owns 630 shares of the oil and gas producer's stock valued at $43,000 after acquiring an additional 230 shares during the period. Oregon Public Employees Retirement Fund lifted its position in shares of Laredo Petroleum by 4.5% in the first quarter. Oregon Public Employees Retirement Fund now owns 5,453 shares of the oil and gas producer's stock valued at $432,000 after acquiring an additional 234 shares in the last quarter. Finally, CoreCommodity Management LLC boosted its stake in shares of Laredo Petroleum by 6.3% in the fourth quarter. CoreCommodity Management LLC now owns 4,103 shares of the oil and gas producer's stock worth $247,000 after acquiring an additional 243 shares during the period. 77.39% of the stock is currently owned by institutional investors.
Insider Buying and Selling
In other Laredo Petroleum news, insider Jessica R. Wren sold 1,009 shares of the stock in a transaction dated Monday, August 22nd. The stock was sold at an average price of $72.02, for a total value of $72,668.18. Following the transaction, the insider now owns 3,145 shares of the company's stock, valued at $226,502.90. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, insider Jessica R. Wren sold 1,009 shares of Laredo Petroleum stock in a transaction on Monday, August 22nd. The shares were sold at an average price of $72.02, for a total transaction of $72,668.18. Following the transaction, the insider now owns 3,145 shares in the company, valued at approximately $226,502.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Bryan Lemmerman sold 10,522 shares of the company's stock in a transaction on Tuesday, July 5th. The stock was sold at an average price of $62.84, for a total value of $661,202.48. Following the completion of the sale, the chief financial officer now owns 61,113 shares of the company's stock, valued at $3,840,340.92. The disclosure for this sale can be found here. Insiders sold 15,281 shares of company stock valued at $995,921 over the last 90 days. Company insiders own 2.20% of the company's stock.
Laredo Petroleum Company Profile
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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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