About Laredo Petroleum (NYSE:LPI)
Laredo Petroleum, Inc. (Laredo) is an independent energy company. The Company is focused on the acquisition, exploration and development of oil and natural gas properties, and the transportation of oil and natural gas from such properties primarily in the Permian Basin in West Texas. It operates through two segments: Exploration and production of oil and natural gas properties, and Midstream and marketing. The exploration and production of oil and natural gas properties are conducted by it through the exploration and development of its acreage in the Permian Basin. As of December 31, 2016, it had assembled 127,847 net acres in the Permian Basin and had total proved reserves, presented on a three-stream basis, of 167,100 thousand of barrels of oil equivalent (MBOE). The Midstream and marketing segment's operations are conducted by its subsidiary, Laredo Midstream Services, LLC, which buys, sells, gathers and transports oil, natural gas and water primarily for the account of Laredo.
Industry, Sector and Symbol
Sub-IndustryOil & Gas Exploration & Production
Trailing P/E Ratio16.1
Forward P/E Ratio8.39
Sales & Book Value
Annual Sales$822.16 million
Price / Sales2.53
Cash Flow$1.30 per share
Price / Cash6.60
Book Value$3.16 per share
Price / Book2.71
Net Income$548.97 million
Return on Equity30.02%
Return on Assets6.46%
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 repurchase $200,000,000.00 in shares, according to EventVestor. This repurchase authorization authorizes the company to purchase shares of its stock through open market purchases. Shares repurchase 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, February, 14th. The oil and gas producer reported $0.19 earnings per share (EPS) for the quarter, beating the Zacks' consensus estimate of $0.18 by $0.01. The oil and gas producer had revenue of $240.34 million for the quarter, compared to analysts' expectations of $212.57 million. Laredo Petroleum had a net margin of 66.77% and a return on equity of 30.02%. The firm's quarterly revenue was up 30.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.16 earnings per share. View Laredo Petroleum's Earnings History.
When will Laredo Petroleum make its next earnings announcement?
Where is Laredo Petroleum's stock going? Where will Laredo Petroleum's stock price be in 2018?
17 brokers have issued 1-year price targets for Laredo Petroleum's shares. Their predictions range from $9.50 to $16.00. On average, they anticipate Laredo Petroleum's share price to reach $12.66 in the next twelve months. 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.
• 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. 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)
Who are some of Laredo Petroleum's key competitors?
Some companies that are related to Laredo Petroleum include Vermilion Energy (VET), Crescent Point Energy (CPG), Range Resources (RRC), Arc Resources (AETUF), CNX Resources (CNX), PDC Energy (PDCE), Tallgrass Energy GP (TEGP), Matador Resources (MTDR), Whiting Petroleum (WLL), Chesapeake Energy (CHK), Enerplus (ERF), Viper Energy Partners (VNOM), Jagged Peak Energy (JAG), Southwestern Energy (SWN), Oasis Petroleum (OAS), Kosmos Energy (KOS), Callon Petroleum (CPE) and Beach Energy (BCHEY).
Who are Laredo Petroleum's key executives?
Laredo Petroleum's management team includes the folowing people:
- Randy A. Foutch, Chairman of the Board, Chief Executive Officer (Age 66)
- Richard C. Buterbaugh, Chief Financial Officer, Executive Vice President (Age 62)
- Kenneth E. Dornblaser, Senior Vice President, General Counsel (Age 62)
- Daniel C. Schooley, Senior Vice President - Operations (Age 61)
- Michael T. Beyer, Chief Accounting Officer, Vice President, Controller (Age 41)
- Edmund P. Segner III, Lead Independent Director (Age 63)
- Peter Randall Kagan, Independent Director (Age 48)
- James R. Levy, Independent Director (Age 41)
- B.Z. Parker, Independent Director (Age 69)
- Pamela Sue Pierce, Independent Director (Age 62)
Has Laredo Petroleum been receiving favorable news coverage?
Headlines about LPI stock have trended somewhat positive recently, according to Accern Sentiment Analysis. The research firm identifies positive and negative news coverage by reviewing more than twenty million blog and news sources in real-time. Accern ranks coverage of public companies on a scale of negative one to one, with scores closest to one being the most favorable. Laredo Petroleum earned a news sentiment score of 0.06 on Accern's scale. They also gave news headlines about the oil and gas producer an impact score of 46.66 out of 100, indicating that recent news coverage is somewhat unlikely to have an effect on the stock's share price in the near future.
Who are Laredo Petroleum's major shareholders?
Laredo Petroleum's stock is owned by many different of retail and institutional investors. Top institutional investors include SailingStone Capital Partners LLC (16.34%), Millennium Management LLC (3.56%), BlackRock Inc. (2.82%), WS Management Lllp (2.48%), Vaughan Nelson Investment Management L.P. (1.72%) and Deutsche Bank AG (1.42%). 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 Impala Asset Management LLC, Millennium Management LLC, Bank of Montreal Can, Jennison Associates LLC, Allianz Asset Management GmbH, Columbia Pacific Advisors LLC, Guggenheim Capital LLC and Flinton Capital Management LLC. Company insiders that have sold Laredo Petroleum company stock in the last year include Patrick J Curth and Peter Kagan. View Insider Buying and Selling for Laredo Petroleum.
Which institutional investors are buying Laredo Petroleum stock?
LPI stock was acquired by a variety of institutional investors in the last quarter, including Deutsche Bank AG, SailingStone Capital Partners LLC, Goldman Sachs Group Inc., Channing Capital Management LLC, SIR Capital Management L.P., Capital Fund Management S.A., First Trust Advisors LP and Vaughan Nelson Investment Management L.P.. 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 $8.56.
How big of a company is Laredo Petroleum?
Laredo Petroleum has a market capitalization of $2.03 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 $2.28 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 the stock will outperform the S&P 500 over the long term. Vote "Underperform" if you believe the stock will underperform the S&P 500 over the long term. You may vote once every thirty days.
Laredo Petroleum (NYSE:LPI) Analysts' Consensus Rating (How are Consensus Ratings Calculated?)
MarketBeat calculates consensus analyst ratings for company stocks using the most recent rating from each brokerage that has rated a stock within the last twelve months. Since brokers often use different ratings systems, each 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 will no longer include ratings and price target data in its consensus calculation if a broker drops coverage and MarketBeat has received a report that coverage was dropped. Ratings from certain research firms that issue ratings using purely quantitative methods (such as Zacks, Vetr and ValuEngine) are not included in consensus calculations. MarketBeat's consensus ratings and consensus price targets may differ from those calculated by other firms due to differences in methodology and available data.
|Today||30 Days Ago||90 Days Ago||180 Days Ago|
|Consensus Rating: ||Hold||Hold||Hold||Hold|
|Consensus Rating Score: ||2.24||2.24||2.37||2.33|
|Ratings Breakdown: ||2 Sell Rating(s)|
9 Hold Rating(s)
6 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)|
8 Hold Rating(s)
9 Buy Rating(s)
0 Strong Buy Rating(s)
|2 Sell Rating(s)|
8 Hold Rating(s)
8 Buy Rating(s)
0 Strong Buy Rating(s)
|Consensus Price Target: ||$12.66||$12.97||$14.08||$14.70|
|Price Target Upside: ||47.85% upside||55.66% upside||45.49% upside||19.58% upside|
Laredo Petroleum (NYSE:LPI) Consensus Price Target History
Laredo Petroleum (NYSE:LPI) Analyst Ratings History
(Data available from 3/21/2016 forward)
Laredo Petroleum (NYSE:LPI) Earnings History and Estimates Chart
Laredo Petroleum (NYSE LPI) Earnings History by Quarter
(Earnings results data provided by Zacks Investment Research)
|Date||Quarter||Consensus Estimate||Actual EPS||Revenue Estimate||Actual Revenue||Release Link||Conference Call||Details|
|2/14/2018||Q4 2017||$0.18||$0.19||$212.57 million||$240.34 million||View||N/A|
|11/1/2017||Q3 2017||$0.14||$0.13||$178.48 million||$205.82 million||View||N/A|
|8/7/2017||Q2 2017||$0.11||$0.10||$173.32 million||$187.00 million||View||Listen|
|5/3/2017||Q1 2017||$0.11||$0.10||$164.39 million||$189.00 million||View||Listen|
|2/15/2017||Q4 2016||$0.16||$0.16||$159.83 million||$184.31 million||View||Listen|
|11/2/2016||Q316||$0.12||$0.12||$150.09 million||$159.70 million||View||Listen|
|8/3/2016||Q2||$0.10||$0.13||$138.30 million||$146.77 million||View||Listen|
|5/4/2016||Q1||$0.06||$0.08||$118.15 million||$106.55 million||View||Listen|
|2/16/2016||Q4||$0.10||$0.06||$151.92 million||$115.90 million||View||Listen|
|11/5/2015||Q315||$0.07||$0.07||$151.61 million||$150.34 million||View||Listen|
|8/6/2015||Q215||$0.05||$0.05||$162.12 million||$182.33 million||View||Listen|
|5/7/2015||Q1||$0.01||$0.03||$169.39 million||$150.64 million||View||Listen|
|2/26/2015||Q4||$0.14||$0.15||$200.47 million||$237.29 million||View||Listen|
|11/6/2014||Q113||$0.17||$0.19||$199.53 million||$200.20 million||View||Listen|
|8/7/2014||Q2||$0.17||$0.14||$190.23 million||$183.00 million||View||Listen|
|5/8/2014||Q1||$0.14||$0.49||$169.86 million||$173.20 million||View||Listen|
|2/27/2014||Q4||$0.09||$0.13||$151.27 million||$153.40 million||View||Listen|
|11/7/2013||$0.15||$0.15||$169.99 million||$170.80 million||View||Listen|
|8/8/2013||Q2 2013||$0.16||$0.16||$184.12 million||$177.30 million||View||Listen|
|5/9/2013||Q1 2013||$0.13||$0.11||$173.56 million||$163.71 million||View||N/A|
Laredo Petroleum (NYSE:LPI) Earnings Estimates
2018 EPS Consensus Estimate: $0.91
2019 EPS Consensus Estimate: $1.02
(Earnings estimates data provided by Zacks Investment Research)
|Quarter||Number of Estimates||Low Estimate||High Estimate||Average Estimate|
Dividend History for Laredo Petroleum (NYSE:LPI)
No dividend announcements for this company have been tracked by MarketBeat.com
Laredo Petroleum (NYSE LPI) Insider Trading and Institutional Ownership History
Insider Ownership Percentage: 1.40%
Laredo Petroleum (NYSE LPI) Insider Trades by Quarter
(Data available from 1/1/2013 forward)
|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|| |
Laredo Petroleum (NYSE LPI) News Headlines
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 Wednesday, March, 21, 2018