Laredo Petroleum’s (LPI) Hold Rating Reiterated at KeyCorp

KeyCorp reissued their hold rating on shares of Laredo Petroleum, Inc. (NYSE:LPI) in a research report report published on Friday morning.

Several other equities analysts also recently weighed in on the company. Zacks Investment Research downgraded Laredo Petroleum from a buy rating to a hold rating in a research report on Friday, October 20th. Bank of America Corporation started coverage on Laredo Petroleum in a research report on Wednesday, July 19th. They set an underperform rating and a $11.00 target price on the stock. Williams Capital boosted their target price on Laredo Petroleum from $13.00 to $14.00 and gave the company a hold rating in a research report on Wednesday, October 18th. BMO Capital Markets set a $14.00 target price on Laredo Petroleum and gave the company a hold rating in a research report on Tuesday, October 10th. Finally, Cowen and Company set a $12.00 target price on Laredo Petroleum and gave the company a hold rating in a research report on Tuesday, July 18th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eight have issued a buy rating to the stock. Laredo Petroleum currently has an average rating of Hold and an average price target of $14.45.

Laredo Petroleum (NYSE:LPI) opened at $10.97 on Friday. The firm has a market capitalization of $2,660.36, a P/E ratio of 22.39, a PEG ratio of 4.41 and a beta of 1.39. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 4.16. Laredo Petroleum has a 12-month low of $9.57 and a 12-month high of $16.47.

Laredo Petroleum (NYSE:LPI) last released its earnings results on Wednesday, November 1st. The oil and gas producer reported $0.13 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.14 by ($0.01). The company had revenue of $205.82 million for the quarter, compared to the consensus estimate of $178.48 million. Laredo Petroleum had a net margin of 15.92% and a return on equity of 43.77%. The business’s revenue for the quarter was up 28.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.12 EPS. analysts forecast that Laredo Petroleum will post 0.5 earnings per share for the current year.

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Several institutional investors and hedge funds have recently bought and sold shares of the company. Teacher Retirement System of Texas grew its position in shares of Laredo Petroleum by 3.8% during the 2nd quarter. Teacher Retirement System of Texas now owns 12,884 shares of the oil and gas producer’s stock worth $136,000 after buying an additional 468 shares in the last quarter. Public Employees Retirement Association of Colorado grew its position in shares of Laredo Petroleum by 1.6% during the 2nd quarter. Public Employees Retirement Association of Colorado now owns 35,230 shares of the oil and gas producer’s stock worth $371,000 after buying an additional 546 shares in the last quarter. Amalgamated Bank grew its position in shares of Laredo Petroleum by 3.1% during the 1st quarter. Amalgamated Bank now owns 20,647 shares of the oil and gas producer’s stock worth $301,000 after buying an additional 622 shares in the last quarter. BNP Paribas Arbitrage SA grew its position in shares of Laredo Petroleum by 4.8% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 16,735 shares of the oil and gas producer’s stock worth $176,000 after buying an additional 766 shares in the last quarter. Finally, Public Employees Retirement System of Ohio grew its position in shares of Laredo Petroleum by 2.0% during the 1st quarter. Public Employees Retirement System of Ohio now owns 69,338 shares of the oil and gas producer’s stock worth $1,012,000 after buying an additional 1,327 shares in the last quarter.

About Laredo Petroleum

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.

Analyst Recommendations for Laredo Petroleum (NYSE:LPI)

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