Brokerages Set Laredo Petroleum, Inc. (LPI) Price Target at $14.65
Laredo Petroleum, Inc. (NYSE:LPI) has earned an average rating of “Hold” from the twenty-two research firms that are covering the firm, MarketBeat reports. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating and eight have given a buy rating to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $14.65.
LPI has been the subject of a number of analyst reports. Seaport Global Securities cut shares of Laredo Petroleum from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $19.00 to $9.00 in a report on Wednesday, June 21st. BidaskClub lowered shares of Laredo Petroleum from a “sell” rating to a “strong sell” rating in a report on Wednesday, June 21st. BMO Capital Markets restated a “hold” rating and issued a $10.00 target price on shares of Laredo Petroleum in a report on Tuesday, June 27th. Scotiabank set a $13.00 price target on shares of Laredo Petroleum and gave the company a “hold” rating in a research report on Saturday, July 1st. Finally, Stifel Nicolaus reaffirmed a “buy” rating and issued a $17.00 price target on shares of Laredo Petroleum in a research report on Friday, July 14th.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Quantbot Technologies LP purchased a new stake in Laredo Petroleum during the first quarter worth about $114,000. Meeder Asset Management Inc. raised its position in Laredo Petroleum by 282.5% in the first quarter. Meeder Asset Management Inc. now owns 8,093 shares of the oil and gas producer’s stock worth $118,000 after acquiring an additional 5,977 shares during the period. Evanson Asset Management LLC bought a new stake in Laredo Petroleum in the second quarter worth about $108,000. Teacher Retirement System of Texas raised its position in Laredo Petroleum by 13.0% in the first quarter. Teacher Retirement System of Texas now owns 12,416 shares of the oil and gas producer’s stock worth $181,000 after acquiring an additional 1,429 shares during the period. Finally, QCM Cayman Ltd. bought a new stake in Laredo Petroleum in the second quarter worth about $133,000.
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Laredo Petroleum (NYSE LPI) traded up 3.469% on Friday, reaching $12.675. The company’s stock had a trading volume of 4,135,659 shares. The company has a market cap of $3.03 billion, a P/E ratio of 25.606 and a beta of 1.44. Laredo Petroleum has a 52-week low of $9.57 and a 52-week high of $16.47. The firm’s 50-day moving average price is $12.32 and its 200 day moving average price is $12.32.
Laredo Petroleum (NYSE:LPI) last announced its quarterly earnings results on Monday, August 7th. The oil and gas producer reported $0.10 EPS for the quarter, missing the Zacks’ consensus estimate of $0.11 by ($0.01). Laredo Petroleum had a net margin of 16.73% and a return on equity of 49.15%. The business had revenue of $187.00 million for the quarter, compared to the consensus estimate of $173.32 million. During the same quarter last year, the firm posted $0.13 EPS. The business’s revenue for the quarter was up 27.5% compared to the same quarter last year. Equities analysts anticipate that Laredo Petroleum will post $0.51 EPS for the current fiscal year.
Laredo Petroleum Company Profile
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.
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