Laredo Petroleum, Inc. operates as an independent energy company in the United States. It operates through two segments, Exploration and Production; and Midstream and Marketing. The company engages in the acquisition, exploration, and development of oil and natural gas properties; and the transportation of oil and natural gas primarily in the Permian Basin in West Texas, as well as rig fuel, natural gas lift, and water delivery and takeaway services. As of December 31, 2017, it had assembled 124,843 net acres in the Permian Basin; and had total proved reserves of 215,883 thousand barrels of oil equivalent. The company was formerly known as Laredo Petroleum Holdings, Inc. and changed its name to Laredo Petroleum, Inc. in December 2013. Laredo Petroleum, Inc. was founded in 2006 and is headquartered in Tulsa, Oklahoma.
Industry, Sector and Symbol
Stock Exchange NYSE
Industry Crude petroleum & natural gas
Sub-IndustryOil & Gas Exploration & Production
SectorOils/Energy
Current SymbolNYSE:LPI
Previous Symbol
CUSIP51680610
Phone918-513-4570
Debt
Debt-to-Equity Ratio0.95
Current Ratio0.73
Quick Ratio0.73
Price-To-Earnings
Trailing P/E Ratio6.27
Forward P/E Ratio3.69
P/E GrowthN/A
Sales & Book Value
Annual Sales$822.16 million
Price / Sales1.07
Cash Flow$1.2090 per share
Price / Cash Flow3.11
Book Value$3.16 per share
Price / Book1.19
Profitability
EPS (Most Recent Fiscal Year)$0.60
Net Income$548.97 million
Net Margins51.61%
Return on Equity24.30%
Return on Assets10.35%
Miscellaneous
Employees390
Outstanding Shares233,880,000
Market Cap$923.83 million
OptionableOptionable
Laredo Petroleum (NYSE:LPI) Frequently Asked Questions
What is Laredo Petroleum's stock symbol?
Laredo Petroleum trades on the New York Stock Exchange (NYSE) under the ticker symbol "LPI."
How will Laredo Petroleum's stock buyback program work?
Laredo Petroleum announced that its board has approved a share repurchase program on Thursday, February 15th 2018, which authorizes the company to buyback $200,000,000.00 in outstanding shares, according to EventVestor. This buyback authorization authorizes the company to reacquire shares of its stock through open market purchases. Shares buyback programs are typically an indication that the company's management believes its shares are undervalued.
How were Laredo Petroleum's earnings last quarter?
Laredo Petroleum Inc (NYSE:LPI) announced its earnings results on Monday, November, 5th. The oil and gas producer reported $0.27 EPS for the quarter, missing the consensus estimate of $0.30 by $0.03. The oil and gas producer had revenue of $279.70 million for the quarter, compared to analyst estimates of $276.95 million. Laredo Petroleum had a return on equity of 24.30% and a net margin of 51.61%. Laredo Petroleum's revenue for the quarter was up 35.9% on a year-over-year basis. During the same quarter last year, the business earned $0.13 earnings per share. View Laredo Petroleum's Earnings History.
When is Laredo Petroleum's next earnings date?
What price target have analysts set for LPI?
11 Wall Street analysts have issued twelve-month price objectives for Laredo Petroleum's stock. Their predictions range from $6.00 to $15.00. On average, they anticipate Laredo Petroleum's stock price to reach $11.30 in the next twelve months. This suggests a possible upside of 200.5% from the stock's current price. View Analyst Price Targets for Laredo Petroleum.
What is the consensus analysts' recommendation for Laredo Petroleum?
11 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Laredo Petroleum in the last year. There are currently 1 sell rating, 6 hold ratings and 4 buy ratings for the stock, resulting in a consensus recommendation of "Hold." View Analyst Ratings for Laredo Petroleum.
What are Wall Street analysts saying about Laredo Petroleum stock?
Here are some recent quotes from research analysts about Laredo Petroleum stock:
- 1. According to Zacks Investment Research, "Laredo Petroleum Holdings, Inc. is engaged in the exploration, development and acquisition of oil and natural gas properties in the Permian and Mid-Continent regions of the United States. Laredo Petroleum Holdings, Inc. is headquartered in Tulsa, Oklahoma. " (12/18/2018)
- 2. National Securities analysts commented, "What Happened:
• LPI produced 61.9 thousand barrels of oil equivalent per day (Mboe/d), in the 4th quarter, 1% lower than our projection, and 3% higher than the prior quarter. The production figures were largely in line with expectations, and represent a 17% increase year over year.
• As it relates to pricing, LPI finished 6% higher than our estimates for oil, at $54.38 per barrel (bbl), versus our projection of $51.43. Our expectations for natural gas liquids (NGL’S) were high, at $20.06 per bbl (relative to LPI’s realized price of 19.53). In looking to natural gas prices, LPI finished the quarter earning $2.08 per thousand cubic feet (Mcf), 12% lower than our projection of $2.37.
• Also, LPI generated $111.8 million in discretionary cash flow (DCF), up 10% from the $101.6 million earned in 3Q17. Moreover, the company generated a 2% sequential increase in EBITDA at $133.8 million, versus $130.8 million in the prior quarter.
• The company saw its proved reserve base grow 29% on the year to 216 million barrels of oil equivalent (Mmboe), from 167 Mmboe to end 2016, while announcing finding and development (F&D) costs of $7.90 per boe.
• Laredo also saw a decline in cash operating expenses, along with a 48% increase in cash margins, driven largely in our view by a reduction of interest expense.
• Additionally, LPI recently announced a $200 million share repurchase program, representing approximately 10% of current outstanding shares. In the event that the share repurchases occur, LPI intends to fund it with cash on hand along with its existing credit facility.
Our Take:
• We view this as a solid quarter for Laredo, as they certainly fell within our expectations for production, revenue, and EBITDA. Moreover, the company surpassed our expectations for discretionary cash flow generation by 10%. We also look favorably upon LPI using $690 million of an $830 million sale of Midland Basin pipeline interests, to reduce net debt.
" (2/16/2018)
- 3. Williams Capital analysts commented, "We reaffirm our Hold rang, but reduce our price target to $11 (from $13)." (2/15/2018)
Has Laredo Petroleum been receiving favorable news coverage?
News stories about LPI stock have trended somewhat positive on Wednesday, InfoTrie Sentiment reports. The research firm identifies positive and negative press coverage by analyzing more than six thousand blog and news sources in real time. The firm ranks coverage of companies on a scale of -5 to 5, with scores closest to five being the most favorable. Laredo Petroleum earned a media sentiment score of 1.9 on InfoTrie's scale. They also gave media stories about the oil and gas producer a news buzz of 1.0 out of 10, meaning that recent press coverage is extremely unlikely to have an effect on the company's share price in the immediate future.
Are investors shorting Laredo Petroleum?
Laredo Petroleum saw a decline in short interest in November. As of November 30th, there was short interest totalling 20,718,880 shares, a decline of 21.2% from the November 15th total of 26,288,418 shares. Based on an average trading volume of 5,130,146 shares, the short-interest ratio is presently 4.0 days. Currently, 11.7% of the shares of the stock are short sold. View Laredo Petroleum's Current Options Chain.
Who are some of Laredo Petroleum's key competitors?
Some companies that are related to Laredo Petroleum include Antero Resources (AR), Viper Energy Partners (VNOM), Centennial Resource Development (CDEV), Black Stone Minerals (BSM), Vermilion Energy (VET), Newfield Exploration (NFX), Range Resources (RRC), Magnolia Oil & Gas (MGY), Whiting Petroleum (WLL), CNX Resources (CNX), ARC Resources (AETUF), Southwestern Energy (SWN), DELEK GRP LTD/ADR (DGRLY), Chesapeake Energy (CHK) and Jagged Peak Energy (JAG).
Who are Laredo Petroleum's key executives?
Laredo Petroleum's management team includes the folowing people:
- Mr. Randy A. Foutch, Founder, Chairman & CEO (Age 66)
- Mr. Richard C. Buterbaugh, Exec. VP & CFO (Age 63)
- Mr. Kenneth E. Dornblaser, Sr. VP - Legal & Admin. and Corp. Sec. (Age 63)
- Mr. Daniel C. Schooley, Sr. VP of Midstream, Marketing & Subsurface (Age 62)
- Mr. Patrick J. Curth, Sr. Advisor (Age 66)
Who are Laredo Petroleum's major shareholders?
Laredo Petroleum's stock is owned by a number of of retail and institutional investors. Top institutional investors include Warburg Pincus LLC (21.88%), BlackRock Inc. (9.76%), Vanguard Group Inc. (6.54%), Vanguard Group Inc (6.54%), Dimensional Fund Advisors LP (3.76%) and AQR Capital Management LLC (3.24%). Company insiders that own Laredo Petroleum stock include Patrick J Curth, Peter Kagan and Pincus Private Equity Warburg. View Institutional Ownership Trends for Laredo Petroleum.
Which major investors are selling Laredo Petroleum stock?
LPI stock was sold by a variety of institutional investors in the last quarter, including Warburg Pincus LLC, Vanguard Group Inc., Vanguard Group Inc, Wafra Inc., Thompson Siegel & Walmsley LLC, New Amsterdam Partners LLC NY, SG Americas Securities LLC and Quantbot Technologies LP. Company insiders that have sold Laredo Petroleum company stock in the last year include Peter Kagan and Pincus Private Equity Warburg. View Insider Buying and Selling for Laredo Petroleum.
Which major investors are buying Laredo Petroleum stock?
LPI stock was acquired by a variety of institutional investors in the last quarter, including BlackRock Inc., Laurion Capital Management LP, Marshall Wace LLP, AQR Capital Management LLC, Marshall Wace North America L.P., Dimensional Fund Advisors LP, Man Group plc and Bank of New York Mellon Corp. View Insider Buying and Selling for Laredo Petroleum.
How do I buy shares of Laredo Petroleum?
Shares of LPI can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Scottrade, Fidelity and Charles Schwab.
What is Laredo Petroleum's stock price today?
One share of LPI stock can currently be purchased for approximately $3.76.
How big of a company is Laredo Petroleum?
Laredo Petroleum has a market capitalization of $923.83 million and generates $822.16 million in revenue each year. The oil and gas producer earns $548.97 million in net income (profit) each year or $0.60 on an earnings per share basis. Laredo Petroleum employs 390 workers across the globe.
What is Laredo Petroleum's official website?
How can I contact Laredo Petroleum?
Laredo Petroleum's mailing address is 15 WEST SIXTH STREET SUITE 900, TULSA OK, 74119. The oil and gas producer can be reached via phone at 918-513-4570 or via email at [email protected]
MarketBeat Community Rating for Laredo Petroleum (NYSE LPI)
MarketBeat's community ratings are surveys of what our community members think about Laredo Petroleum and other stocks. Vote "Outperform" if you believe LPI will outperform the S&P 500 over the long term. Vote "Underperform" if you believe LPI will underperform the S&P 500 over the long term. You may vote once every thirty days.
