Laredo Petroleum (LPI) Cut to Underweight at J P Morgan Chase & Co

J P Morgan Chase & Co lowered shares of Laredo Petroleum (NYSE:LPI) from a neutral rating to an underweight rating in a research note published on Friday morning, MarketBeat Ratings reports. They currently have $13.00 price objective on the oil and gas producer’s stock.

Several other equities research analysts also recently commented on the stock. Zacks Investment Research downgraded shares of Laredo Petroleum from a buy rating to a hold rating in a research note on Friday, October 20th. Williams Capital lifted their price objective on shares of Laredo Petroleum from $13.00 to $14.00 and gave the stock a hold rating in a research note on Wednesday, October 18th. BMO Capital Markets set a $14.00 price objective on shares of Laredo Petroleum and gave the stock a hold rating in a research note on Tuesday, October 10th. Scotiabank set a $14.00 price objective on shares of Laredo Petroleum and gave the stock a hold rating in a research note on Wednesday, November 22nd. Finally, KeyCorp reiterated a hold rating on shares of Laredo Petroleum in a research note on Friday, November 10th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and eight have issued a buy rating to the company. Laredo Petroleum currently has a consensus rating of Hold and a consensus price target of $14.08.

Shares of Laredo Petroleum (LPI) opened at $9.49 on Friday. Laredo Petroleum has a one year low of $9.46 and a one year high of $15.55. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 4.16. The company has a market cap of $2,301.44, a price-to-earnings ratio of 19.37, a PEG ratio of 3.78 and a beta of 1.33.

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

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Wells Fargo & Company MN increased its holdings in Laredo Petroleum by 24.4% in the second quarter. Wells Fargo & Company MN now owns 218,884 shares of the oil and gas producer’s stock valued at $2,304,000 after buying an additional 42,994 shares in the last quarter. Caxton Associates LP purchased a new stake in shares of Laredo Petroleum during the second quarter worth about $6,819,000. Chicago Equity Partners LLC purchased a new stake in shares of Laredo Petroleum during the third quarter worth about $1,177,000. Prudential Financial Inc. increased its stake in shares of Laredo Petroleum by 108.5% during the second quarter. Prudential Financial Inc. now owns 1,354,512 shares of the oil and gas producer’s stock worth $14,249,000 after purchasing an additional 704,874 shares in the last quarter. Finally, Castleton Investment Management LLC purchased a new stake in shares of Laredo Petroleum during the second quarter worth about $315,000.

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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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