Shares of Laredo Petroleum Inc (NYSE:LPI) have been given an average rating of “Hold” by the ten brokerages that are presently covering the company, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, four have issued a hold recommendation and four have issued a buy recommendation on the company. The average 12-month target price among analysts that have covered the stock in the last year is $5.93.

Several analysts have recently weighed in on LPI shares. Zacks Investment Research upgraded Laredo Petroleum from a “hold” rating to a “buy” rating and set a $3.75 price target on the stock in a report on Tuesday, May 21st. Williams Capital upgraded Laredo Petroleum from a “hold” rating to a “buy” rating and boosted their price target for the stock from $4.00 to $5.50 in a report on Thursday, May 16th. Capital One Financial upgraded Laredo Petroleum from an “underweight” rating to an “equal weight” rating and set a $7.00 price target on the stock in a report on Thursday, May 23rd. Finally, Robert W. Baird upgraded Laredo Petroleum from a “neutral” rating to an “outperform” rating and boosted their price target for the stock from $3.00 to $7.00 in a report on Thursday, May 9th.

Hedge funds have recently made changes to their positions in the stock. Pearl River Capital LLC bought a new stake in Laredo Petroleum in the fourth quarter valued at approximately $35,000. Pitcairn Co. bought a new stake in Laredo Petroleum in the fourth quarter valued at approximately $42,000. Cornerstone Investment Partners LLC bought a new stake in Laredo Petroleum in the first quarter valued at approximately $51,000. PNC Financial Services Group Inc. boosted its holdings in Laredo Petroleum by 155.6% in the fourth quarter. PNC Financial Services Group Inc. now owns 18,773 shares of the oil and gas producer’s stock valued at $67,000 after acquiring an additional 11,427 shares during the last quarter. Finally, Amalgamated Bank boosted its holdings in Laredo Petroleum by 25.4% in the fourth quarter. Amalgamated Bank now owns 23,366 shares of the oil and gas producer’s stock valued at $85,000 after acquiring an additional 4,735 shares during the last quarter. Institutional investors and hedge funds own 96.45% of the company’s stock.

Shares of NYSE:LPI traded down $0.01 during midday trading on Monday, hitting $2.45. 157,792 shares of the stock were exchanged, compared to its average volume of 3,890,851. The firm has a market cap of $572.45 million, a PE ratio of 2.63 and a beta of 1.46. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.85 and a quick ratio of 0.85. The business’s 50-day simple moving average is $3.06. Laredo Petroleum has a 12 month low of $2.45 and a 12 month high of $10.43.

Laredo Petroleum (NYSE:LPI) last released its quarterly earnings results on Wednesday, May 1st. The oil and gas producer reported $0.12 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.10 by $0.02. The company had revenue of $208.95 million for the quarter, compared to analysts’ expectations of $198.64 million. Laredo Petroleum had a return on equity of 17.30% and a net margin of 21.68%. The business’s quarterly revenue was down 19.5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.24 earnings per share. Research analysts forecast that Laredo Petroleum will post 0.75 earnings per share for the current fiscal year.

About Laredo Petroleum

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.

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Analyst Recommendations for Laredo Petroleum (NYSE:LPI)

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