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About Laredo Petroleum (NYSE:LPI)
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
Industry Crude petroleum & natural gas
Sub-IndustryOil & Gas Exploration & Production
SectorOils/Energy
SymbolNYSE:LPI
CUSIP51680610
Phone918-513-4570
Debt
Debt-to-Equity Ratio0.90
Current Ratio0.77
Quick Ratio0.77
Price-To-Earnings
Trailing P/E Ratio16.05
Forward P/E Ratio9.08
P/E Growth1.82
Sales & Book Value
Annual Sales$822.16 million
Price / Sales2.75
Cash Flow$1.2688 per share
Price / Cash7.59
Book Value$4.01 per share
Price / Book2.40
Profitability
EPS (Most Recent Fiscal Year)$0.60
Net Income$548.97 million
Net Margins63.53%
Return on Equity27.02%
Return on Assets7.91%
Miscellaneous
Employees390
Outstanding Shares235,160,000
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 of Directors has authorized a share repurchase plan on Thursday, February 15th 2018, which authorizes the company to buyback $200,000,000.00 in shares, according to EventVestor. This buyback authorization authorizes the company to repurchase shares of its stock through open market purchases. Stock buyback plans are typically an indication that the company's board of directors believes its shares are undervalued.
How were Laredo Petroleum's earnings last quarter?
Laredo Petroleum Inc (NYSE:LPI) announced its quarterly earnings results on Wednesday, May, 2nd. The oil and gas producer reported $0.24 earnings per share for the quarter, missing the Zacks' consensus estimate of $0.26 by $0.02. The oil and gas producer earned $259.70 million during the quarter, compared to the consensus estimate of $211.73 million. Laredo Petroleum had a net margin of 63.53% and a return on equity of 27.02%. The business's revenue was up 37.4% compared to the same quarter last year. During the same quarter last year, the company posted $0.10 EPS. View Laredo Petroleum's Earnings History.
What price target have analysts set for LPI?
17 brokers have issued 1 year price objectives for Laredo Petroleum's stock. Their predictions range from $9.50 to $15.00. On average, they expect Laredo Petroleum's share price to reach $12.30 in the next year. 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. 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)
- 2. Williams Capital analysts commented, "We reaffirm our Hold rang, but reduce our price target to $11 (from $13)." (2/15/2018)
- 3. 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. " (1/31/2018)
Are investors shorting Laredo Petroleum?
Laredo Petroleum saw a increase in short interest in the month of April. As of April 13th, there was short interest totalling 26,185,948 shares, an increase of 12.6% from the March 30th total of 23,253,687 shares. Based on an average daily trading volume, of 3,325,530 shares, the days-to-cover ratio is currently 7.9 days. Approximately 16.3% of the shares of the stock are short sold.
Who are some of Laredo Petroleum's key competitors?
Some companies that are related to Laredo Petroleum include RSP Permian (RSPP), WPX Energy (WPX), Energen (EGN), Antero Resources (AR), Newfield Exploration (NFX), Centennial Resource Dev (CDEV), Murphy Oil (MUR), Whiting Petroleum (WLL), Crescent Point Energy (CPG), Vermilion Energy (VET), PDC Energy (PDCE), Oasis Petroleum (OAS), ARC Resources (AETUF), Range Resources (RRC) and Chesapeake Energy (CHK).
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. Daniel C. Schooley, Sr. VP of Operations (Age 62)
- Mr. Kenneth E. Dornblaser, Sr. VP, Gen. Counsel & Corp. Sec. (Age 63)
- Mr. Patrick J. Curth, Sr. Advisor (Age 66)
Has Laredo Petroleum been receiving favorable news coverage?
News stories about LPI stock have trended somewhat positive on Sunday, according to Accern. The research group rates the sentiment of media coverage by monitoring more than 20 million news and blog sources. Accern ranks coverage of companies on a scale of negative one to positive one, with scores closest to one being the most favorable. Laredo Petroleum earned a daily sentiment score of 0.18 on Accern's scale. They also gave media coverage about the oil and gas producer an impact score of 45.27 out of 100, meaning that recent media coverage is somewhat unlikely to have an impact on the company's share price in the immediate future.
Who are Laredo Petroleum's major shareholders?
Laredo Petroleum's stock is owned by many different of institutional and retail investors. Top institutional investors include Millennium Management LLC (3.33%), BlackRock Inc. (2.79%), WS Management Lllp (2.67%), Dimensional Fund Advisors LP (2.02%), Van ECK Associates Corp (1.49%) and Prudential Financial Inc. (0.81%). Company insiders that own Laredo Petroleum stock include Patrick J Curth and Peter Kagan. View Institutional Ownership Trends for Laredo Petroleum.
Which institutional investors are selling Laredo Petroleum stock?
LPI stock was sold by a variety of institutional investors in the last quarter, including Rothschild Asset Management Inc., Millennium Management LLC, New York State Common Retirement Fund, Sei Investments Co., BlackRock Inc., Van ECK Associates Corp, JPMorgan Chase & Co. and Quantbot Technologies LP. View Insider Buying and Selling for Laredo Petroleum.
Which institutional investors are buying Laredo Petroleum stock?
LPI stock was bought by a variety of institutional investors in the last quarter, including Wells Fargo & Company MN, Dimensional Fund Advisors LP, LSV Asset Management, Wafra Investment Advisory Group Inc. NY, Prudential Financial Inc., Schroder Investment Management Group, Seven Eight Capital LP and WS Management Lllp. 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 $9.63.
How big of a company is Laredo Petroleum?
Laredo Petroleum has a market capitalization of $2.26 billion 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.
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 (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.
Laredo Petroleum (NYSE:LPI) Price Target and Consensus Rating
(How are Consensus Ratings Calculated?) MarketBeat calculates consensus analyst ratings for stocks using the most recent rating from each Wall Street analyst that has rated a stock within the last twelve months. Each analyst's rating is normalized to a standardized rating score of 1 (sell), 2 (hold), 3 (buy) or 4 (strong buy). Analyst consensus ratings scores are calculated using the mean average of the number of normalized sell, hold, buy and strong buy ratings from Wall Street analysts. Each stock's consensus analyst rating is derived from its calculated consensus ratings score (0-1.5 = Sell, 1.5-2.5 = Hold, 2.5-3.5 = Buy, >3.5 = Strong Buy). MarketBeat's consensus price targets are a mean average of the most recent available price targets set by each analyst that has set a price target for the stock in the last twelve months. MarketBeat's consensus ratings and consensus price targets may differ from those calculated by other firms due to differences in methodology and available data.
17 Wall Street analysts have issued ratings and price targets for Laredo Petroleum in the last 12 months. Their average twelve-month price target is $12.30, suggesting that the stock has a possible upside of 27.73%. The high price target for LPI is $15.00 and the low price target for LPI is $9.50. There are currently 2 sell ratings, 11 hold ratings and 4 buy ratings for the stock, resulting in a consensus rating of "Hold."
| Today | 30 Days Ago | 90 Days Ago | 180 Days Ago |
| Consensus Rating: | Hold | Hold | Hold | Hold |
| Consensus Rating Score: | 2.12 | 2.24 | 2.22 | 2.32 |
| Ratings Breakdown: | 2 Sell Rating(s)
11 Hold Rating(s)
4 Buy Rating(s)
0 Strong Buy Rating(s) | 2 Sell Rating(s)
9 Hold Rating(s)
6 Buy Rating(s)
0 Strong Buy Rating(s) | 2 Sell Rating(s)
10 Hold Rating(s)
6 Buy Rating(s)
0 Strong Buy Rating(s) | 2 Sell Rating(s)
9 Hold Rating(s)
8 Buy Rating(s)
0 Strong Buy Rating(s) |
| Consensus Price Target: | $12.30 | $12.5313 | $13.0313 | $14.2167 |
| Price Target Upside: | 27.73% upside | 53.95% upside | 56.44% upside | 43.17% upside |
Laredo Petroleum (NYSE:LPI) Consensus Price Target History
Laredo Petroleum (NYSE:LPI) Analyst Ratings History
Show:
(Data available from 5/20/2016 forward)
Laredo Petroleum (NYSE:LPI) Dividend History by Quarter
| Announced | Period | Amount | Yield | Ex-Dividend Date | Record Date | Payable Date |
|---|
(Data available from 1/1/2013 forward)
Laredo Petroleum (NYSE LPI) Insider Trading and Institutional Ownership History
Insider Ownership Percentage: 2.20%
Laredo Petroleum (NYSE LPI) Insider Trading History
| Transaction Date | Insider Name | Title | Buy/Sell | Number of Shares | Average Share Price | Total Transaction | Shares Held After Transaction | Details |
|---|
| 3/31/2017 | Patrick J Curth | VP | Sell | 43,830 | $14.41 | $631,590.30 | 232,386 |  |
| 3/31/2017 | Peter Kagan | Director | Sell | 163,207 | $14.34 | $2,340,388.38 | 68,006 | |
| 8/29/2016 | Patrick J Curth | VP | Sell | 17,000 | $12.57 | $213,690.00 | 172,926 | |
| 2/19/2016 | Randy A Foutch | CEO | Buy | 22,072 | $4.52 | $99,765.44 | 623,523 | |
| 2/19/2016 | Richard C Buterbaugh | CFO | Buy | 25,000 | $4.18 | $104,500.00 | 133,857 | |
| 5/11/2015 | Patrick J Curth | VP | Sell | 15,200 | $13.47 | $204,744.00 | | |
| 3/26/2015 | Pincus Private Equity Warburg | Major Shareholder | Buy | 42,153,744 | $11.05 | $465,798,871.20 | | |
| 8/14/2014 | L F Rooney III | Director | Buy | 20,882 | $23.50 | $490,727.00 | | |
| 6/11/2014 | Randy A Foutch | CEO | Sell | 70,000 | $28.93 | $2,025,100.00 | | |
| 6/10/2014 | Patrick J Curth | VP | Sell | 10,080 | $28.74 | $289,699.20 | | |
| 3/4/2014 | John Minton | Insider | Sell | 12,806 | $26.51 | $339,487.06 | 59,558 | |
| 3/4/2014 | Patrick Curth | VP | Sell | 12,850 | $27.23 | $349,905.50 | 140,702 | |
| 2/25/2014 | Jerry Schuyler | Insider | Sell | 9,000 | $27.53 | $247,770.00 | 226,027 | |
| 2/13/2014 | Jerry Schuyler | Insider | Sell | 7,000 | $26.63 | $186,410.00 | 235,027 | |
| 1/31/2014 | Jerry Schuyler | Insider | Sell | 7,000 | $24.77 | $173,390.00 | 242,027 | |
| 1/14/2014 | Jerry Schuyler | Insider | Sell | 7,000 | $23.93 | $167,510.00 | 249,027 | |
| 1/10/2014 | John Minton | Insider | Sell | 22,284 | $24.34 | $542,392.56 | 72,364 | |
| 12/27/2013 | Jerry Schuyler | Insider | Sell | 7,000 | $27.64 | $193,480.00 | 256,027 | |
| 12/11/2013 | Jerry Schuyler | Insider | Sell | 7,000 | $25.46 | $178,220.00 | 263,027 | |
| 11/26/2013 | Jerry Schuyler | Insider | Sell | 30,444 | $29.06 | $884,702.64 | 270,027 | |
| 11/25/2013 | Jerry Schuyler | Insider | Sell | 136,506 | $28.99 | $3,957,308.94 | 300,471 | |
| 11/14/2013 | Jerry Schuyler | Insider | Sell | 7,000 | $29.62 | $207,340.00 | 368,223 | |
| 10/21/2013 | Jerry R Schuyler | Insider | Sell | 7,000 | $33.55 | $234,850.00 | | |
| 10/10/2013 | Jerry Schuyler | Insider | Sell | 7,000 | $30.47 | $213,290.00 | 382,223 | |
| 9/26/2013 | Jerry Schuyler | Insider | Sell | 7,000 | $29.81 | $208,670.00 | 389,223 | |
| 9/25/2013 | Jerry Schuyler | Insider | Sell | 50,000 | $29.35 | $1,467,500.00 | 396,223 | |
| 9/10/2013 | Jerry R Schuyler | Insider | Sell | 7,000 | $26.76 | $187,320.00 | | |
| 8/27/2013 | Peter Kagan | Director | Sell | 1,577,583 | $22.98 | $36,252,857.34 | 38,648 | |
| 8/26/2013 | Jerry Schuyler | Insider | Sell | 7,000 | $26.31 | $184,170.00 | 453,223 | |
| 8/19/2013 | John Minton | VP | Sell | 10,000 | $23.75 | $237,500.00 | 94,648 | |
| 8/19/2013 | Peter Kagan | Director | Sell | 2,890,000 | $22.98 | $66,412,200.00 | 38,648 | |
| 8/19/2013 | Randy Foutch | CEO | Sell | 100,000 | $23.75 | $2,375,000.00 | | |
| 6/25/2013 | Jerry R Schuyler | COO | Sell | 20,000 | $20.25 | $405,000.00 | | |
| 6/20/2013 | Patrick J Curth | VP | Sell | 15,000 | $20.40 | $306,000.00 | | |
(Data available from 1/1/2013 forward)
Laredo Petroleum (NYSE LPI) News Headlines
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Laredo Petroleum (NYSE:LPI) SEC Filings
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Laredo Petroleum (NYSE:LPI) Income Statement, Balance Sheet and Cash Flow Statement
Laredo Petroleum (NYSE LPI) Stock Chart for Sunday, May, 20, 2018
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