Laredo Petroleum, Inc. (NYSE:LPI) is reporting third quarter earnings results on Wednesday 4th November 2020, after market close.
The consensus estimates from Thomson Reuters are income of $ 3.03 per share.
For the full year, analysts predict revenues of $ 703.28 million, while looking forward to income of $ 9.78 per share.
Previous Quarter Performance
Laredo Petroleum, Inc. outlined income for the second quarter of $ 2.43 per share, from the revenue of $ 110.59 million. Wall street analysts are predicting, LPI to report 2Q20 income of $ 1.72 per share from revenue of $ 172.88 million. The bottom line results beat street analysts by $ 0.71 or 41.28 percent, at the same time, top line results fell short of analysts by $ 62.29 million or 36.03 percent.
Stock Performance
Shares of Laredo Petroleum, Inc. traded up $ 0.29 or 3.46 percent on Tuesday, reaching $ 8.67 with volume of 354.40 thousand shares. Laredo Petroleum, Inc. has traded high as $ 9.06 and has cracked $ 8.51 on the downward trend
According to the previous trading day, closing price of $ 8.67, representing a 26.97 % increase from the 52 week low of $ 6.60 and a 86.26 % decrease over the 52 week high of $ 61.00.
The company has a market capital of $ 104.01 million and is part of the Energy sector and Oil & Gas E&P industry.
Recent Analyst recommendations
- On 14th September 2020, downgraded by Wells Fargo & Co to Underweight from Equal-Weight rating.
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. As of December 31, 2018, it had assembled 120,617 net acres in the Permian Basin; and had total proved reserves of 238,167 thousand barrels of oil equivalent.
