Williams Capital set a $14.00 price objective on Laredo Petroleum, Inc. (NYSE:LPI) in a research note issued to investors on Tuesday morning. The brokerage currently has a hold rating on the oil and gas producer’s stock.
“We expect management to provide additional details on current operations on the earnings call this morning (August 8 th ) at 8:30 AM ET. Overall, we view the results and update as a slight positive.”,” the firm’s analyst wrote.
Several other equities research analysts have also weighed in on the company. Credit Suisse Group reaffirmed an underperform rating and issued a $15.00 target price on shares of Laredo Petroleum in a research report on Friday, June 2nd. Seaport Global Securities lowered Laredo Petroleum from a buy rating to a neutral rating and dropped their target price for the stock from $19.00 to $9.00 in a research report on Wednesday, June 21st. J P Morgan Chase & Co dropped their target price on Laredo Petroleum from $14.00 to $13.00 and set a neutral rating on the stock in a research report on Wednesday, May 31st. Scotiabank reaffirmed a hold rating and issued a $15.00 target price on shares of Laredo Petroleum in a research report on Friday, May 5th. Finally, FBR & Co reaffirmed a buy rating and issued a $16.00 target price on shares of Laredo Petroleum in a research report on Friday, May 12th. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and ten have assigned a buy rating to the stock. Laredo Petroleum currently has a consensus rating of Hold and a consensus price target of $14.63.
Laredo Petroleum (NYSE:LPI) opened at 12.34 on Tuesday. The firm has a market capitalization of $2.95 billion, a PE ratio of 24.93 and a beta of 1.41. Laredo Petroleum has a one year low of $9.57 and a one year high of $16.47. The stock has a 50 day moving average of $11.56 and a 200-day moving average of $12.73.
Laredo Petroleum (NYSE:LPI) last issued its earnings results on Monday, August 7th. The oil and gas producer reported $0.10 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.11 by $0.01. Laredo Petroleum had a return on equity of 49.15% and a net margin of 16.73%. The company had revenue of $187 million during the quarter, compared to analyst estimates of $173.32 million. During the same period in the prior year, the business earned $0.13 earnings per share. Laredo Petroleum’s quarterly revenue was up 27.5% on a year-over-year basis. On average, equities analysts predict that Laredo Petroleum will post $0.50 EPS for the current year.
Institutional investors have recently added to or reduced their stakes in the stock. American Century Companies Inc. raised its position in Laredo Petroleum by 381.5% in the first quarter. American Century Companies Inc. now owns 84,554 shares of the oil and gas producer’s stock worth $1,234,000 after buying an additional 66,992 shares during the period. Tyers Asset Management LLC bought a new position in Laredo Petroleum during the first quarter worth $167,000. Channing Capital Management LLC raised its position in Laredo Petroleum by 1.3% in the first quarter. Channing Capital Management LLC now owns 2,243,314 shares of the oil and gas producer’s stock worth $32,752,000 after buying an additional 27,792 shares during the period. Jennison Associates LLC raised its position in Laredo Petroleum by 67.4% in the first quarter. Jennison Associates LLC now owns 3,023,757 shares of the oil and gas producer’s stock worth $44,147,000 after buying an additional 1,217,421 shares during the period. Finally, Russell Investments Group Ltd. raised its position in Laredo Petroleum by 16,137.4% in the first quarter. Russell Investments Group Ltd. now owns 34,261 shares of the oil and gas producer’s stock worth $500,000 after buying an additional 34,050 shares during the period.
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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