Laredo Petroleum’s (LPI) “Buy” Rating Reaffirmed at Barclays PLC
Other equities research analysts also recently issued reports about the stock. KLR Group lifted their target price on shares of Laredo Petroleum from $11.00 to $13.00 and gave the stock a hold rating in a research report on Thursday, September 8th. FBR & Co initiated coverage on shares of Laredo Petroleum in a research report on Tuesday, September 13th. They set an outperform rating and a $14.00 target price on the stock. Credit Suisse Group AG downgraded shares of Laredo Petroleum from a neutral rating to an underperform rating and set a $9.00 target price on the stock. in a research report on Thursday, October 13th. Capital One Financial Corp. upgraded shares of Laredo Petroleum from an equal weight rating to an overweight rating and set a $15.00 target price on the stock in a research report on Wednesday, August 24th. Finally, Zacks Investment Research downgraded shares of Laredo Petroleum from a buy rating to a hold rating in a research report on Wednesday, October 26th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and seven have given a buy rating to the company. The company has a consensus rating of Hold and a consensus target price of $12.33.
Shares of Laredo Petroleum (NYSE:LPI) traded up 1.031% during midday trading on Wednesday, hitting $14.215. 1,672,396 shares of the stock traded hands. The firm has a 50-day moving average price of $13.04 and a 200-day moving average price of $11.84. The stock’s market capitalization is $3.38 billion. Laredo Petroleum has a 52 week low of $3.90 and a 52 week high of $14.49.
Laredo Petroleum (NYSE:LPI) last announced its quarterly earnings results on Wednesday, November 2nd. The company reported $0.12 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.12. The company had revenue of $159.70 million for the quarter, compared to analyst estimates of $150.09 million. Laredo Petroleum had a negative net margin of 225.04% and a positive return on equity of 123.07%. The firm’s revenue was up 6.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.07 EPS. On average, equities analysts predict that Laredo Petroleum will post $0.48 earnings per share for the current fiscal year.
In other news, VP Patrick J. Curth sold 17,000 shares of the company’s stock in a transaction dated Monday, August 29th. The shares were sold at an average price of $12.57, for a total transaction of $213,690.00. Following the completion of the sale, the vice president now owns 172,926 shares of the company’s stock, valued at approximately $2,173,679.82. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.50% of the company’s stock.
Several large investors have recently added to or reduced their stakes in the stock. Geduld E E acquired a new stake in Laredo Petroleum during the second quarter valued at approximately $105,000. Visium Asset Management LP acquired a new stake in Laredo Petroleum during the second quarter valued at approximately $111,000. Alambic Investment Management L.P. acquired a new stake in Laredo Petroleum during the third quarter valued at approximately $141,000. Seven Eight Capital LLC acquired a new stake in Laredo Petroleum during the second quarter valued at approximately $115,000. Finally, TradeLink Capital LLC acquired a new stake in Laredo Petroleum during the third quarter valued at approximately $156,000.
Laredo Petroleum Company Profile
Laredo Petroleum, Inc (Laredo) is an independent energy company 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. The Company’s segments include Exploration and production, and Midstream and marketing.
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