Dallas, Texas 10/30/2013 (Financialstrend) – The $4.25 billion market capitalized Laredo Petroleum Holdings Inc (NYSE:LPI) oil and gas producer had recorded sales of $638 million in the last 12 months with net income of $40.9 million. On October 24, the Tulsa based oil producer has announced that it will announce results for its third quarter operations on November 7. The firm also provided prelim data from its derivative business as part of the news release. During operations between July to September 2013, the oil firm expects to post loss of around $9.8 million from its derivative business. A major part of the loss has been ascribed to $4 million cash payment for settling debt notes which had matured.
The stock has gained close to 12% during trading in the past month. It had posted 26% increase in its 2Q sales numbers in comparison to 2Q of FY12. Its gross and operating margins had also shown healthy increase over the past 12 months. Gross margin had gone up by 86% while operating margin had gone up by 27% over the past 12 months trailing period. Investors in the stock would be hoping that the production increase expected to be reported during the 3Q operations should help the stock post gains which will compensate for any lack of dividend payout by the firm in the last 23 months. As of close of trading on October 29, the shares of the oil firm were trading at $33.34 per share. These valuations have taken the stock just 3.5% closer to its 52 week high bench mark.
Analysts have set a price target of $34.45 per share over the next few months. The stock has posted 101% increase in its market value in the past 180 days and investors would be hoping that he stock appreciates further to post the expected strong 3Q results.