Laredo Petroleum, Inc. (NYSE:LPI) had its target price lifted by Williams Capital from $13.00 to $14.00 in a report issued on Wednesday. The brokerage currently has a hold rating on the oil and gas producer’s stock.
Several other analysts have also recently commented on the stock. Bank of America Corporation started coverage on shares of Laredo Petroleum in a report on Wednesday, July 19th. They set an underperform rating and a $11.00 price target for the company. Seaport Global Securities lowered shares of Laredo Petroleum from a buy rating to a neutral rating and cut their price objective for the company from $19.00 to $9.00 in a research report on Wednesday, June 21st. Cowen and Company set a $12.00 price objective on shares of Laredo Petroleum and gave the company a hold rating in a research report on Tuesday, July 18th. Piper Jaffray Companies cut their price objective on shares of Laredo Petroleum from $17.00 to $15.00 and set an overweight rating on the stock in a research report on Monday, September 18th. Finally, BidaskClub raised shares of Laredo Petroleum from a strong sell rating to a sell rating in a research report on Wednesday, July 5th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and nine have given a buy rating to the stock. The company has a consensus rating of Hold and an average target price of $14.64.
Shares of Laredo Petroleum (NYSE:LPI) traded down 3.36% during trading on Wednesday, reaching $11.79. 2,111,176 shares of the company traded hands. Laredo Petroleum has a 12 month low of $9.57 and a 12 month high of $16.47. The firm has a 50-day moving average price of $12.55 and a 200-day moving average price of $12.25. The firm has a market capitalization of $2.82 billion, a PE ratio of 23.82 and a beta of 1.45.
Laredo Petroleum (NYSE:LPI) last posted its quarterly earnings results on Monday, August 7th. The oil and gas producer reported $0.10 EPS for the quarter, missing the consensus estimate of $0.11 by ($0.01). The company had revenue of $187.00 million for the quarter, compared to analyst estimates of $173.32 million. Laredo Petroleum had a return on equity of 49.15% and a net margin of 16.73%. The business’s revenue for the quarter was up 27.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.13 earnings per share. Equities research analysts anticipate that Laredo Petroleum will post $0.50 EPS for the current year.
Large investors have recently added to or reduced their stakes in the company. Evanson Asset Management LLC bought a new position in shares of Laredo Petroleum in the second quarter valued at approximately $108,000. Meeder Asset Management Inc. raised its position in shares of 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 valued at $118,000 after purchasing an additional 5,977 shares during the period. Koch Industries Inc. bought a new position in shares of Laredo Petroleum in the second quarter valued at approximately $129,000. QCM Cayman Ltd. bought a new position in shares of Laredo Petroleum in the second quarter valued at approximately $133,000. Finally, Teacher Retirement System of Texas raised its position in shares of Laredo Petroleum by 3.8% in the second quarter. Teacher Retirement System of Texas now owns 12,884 shares of the oil and gas producer’s stock valued at $136,000 after purchasing an additional 468 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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