Laredo Petroleum (LPI) Debt Trading 1.5% Lower

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An issue of Laredo Petroleum Inc (NYSE:LPI) bonds fell 1.5% as a percentage of their face value during trading on Friday. The debt issue has a 6.25% coupon and will mature on March 15, 2023. The bonds in the issue are now trading at $89.50. Price changes in a company’s bonds in credit markets often anticipate parallel changes in its stock price.

A number of equities analysts recently commented on LPI shares. Zacks Investment Research cut Laredo Petroleum from a “hold” rating to a “sell” rating in a report on Wednesday, December 12th. Piper Jaffray Companies cut Laredo Petroleum from an “overweight” rating to a “neutral” rating in a report on Wednesday, January 9th. Raymond James set a $5.00 target price on Laredo Petroleum and gave the company a “buy” rating in a report on Wednesday, January 23rd. MKM Partners restated a “neutral” rating and set a $3.00 target price (down from $5.00) on shares of Laredo Petroleum in a report on Friday, February 15th. Finally, Societe Generale cut Laredo Petroleum from a “buy” rating to a “hold” rating in a report on Friday, February 15th. Four research analysts have rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the company’s stock. Laredo Petroleum has a consensus rating of “Hold” and a consensus price target of $6.71.

Shares of LPI opened at $3.11 on Friday. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.96 and a quick ratio of 0.96. The stock has a market capitalization of $778.97 million, a PE ratio of 3.34 and a beta of 1.49. Laredo Petroleum Inc has a 1 year low of $2.80 and a 1 year high of $11.18.

Laredo Petroleum (NYSE:LPI) last announced its quarterly earnings data on Wednesday, February 13th. The oil and gas producer reported $0.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by ($0.04). The company had revenue of $215.28 million during the quarter, compared to analysts’ expectations of $253.75 million. Laredo Petroleum had a net margin of 29.37% and a return on equity of 21.16%. The business’s quarterly revenue was down 10.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.19 EPS. As a group, sell-side analysts expect that Laredo Petroleum Inc will post 0.51 EPS for the current year.

Several institutional investors and hedge funds have recently made changes to their positions in the company. CoreCommodity Management LLC boosted its stake in shares of Laredo Petroleum by 3.5% in the 4th quarter. CoreCommodity Management LLC now owns 78,646 shares of the oil and gas producer’s stock valued at $285,000 after buying an additional 2,665 shares during the period. Amalgamated Bank boosted its stake in shares of Laredo Petroleum by 25.4% in the 4th quarter. Amalgamated Bank now owns 23,366 shares of the oil and gas producer’s stock valued at $85,000 after buying an additional 4,735 shares during the period. CIBC Asset Management Inc boosted its stake in shares of Laredo Petroleum by 26.5% in the 4th quarter. CIBC Asset Management Inc now owns 23,405 shares of the oil and gas producer’s stock valued at $85,000 after buying an additional 4,896 shares during the period. Teachers Advisors LLC boosted its stake in shares of Laredo Petroleum by 2.0% in the 3rd quarter. Teachers Advisors LLC now owns 316,298 shares of the oil and gas producer’s stock valued at $2,584,000 after buying an additional 6,194 shares during the period. Finally, GSA Capital Partners LLP boosted its stake in shares of Laredo Petroleum by 7.0% in the 4th quarter. GSA Capital Partners LLP now owns 136,459 shares of the oil and gas producer’s stock valued at $494,000 after buying an additional 8,945 shares during the period.

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Laredo Petroleum Company Profile (NYSE:LPI)

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.

Further Reading: Cost of Capital Explained

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