Tudor Pickering Downgrades Laredo Petroleum (NYSE:LPI) to Hold

Laredo Petroleum (NYSE:LPI) was downgraded by stock analysts at Tudor Pickering from a “buy” rating to a “hold” rating in a research note issued on Thursday, May 10th, Marketbeat.com reports.

Other equities research analysts also recently issued research reports about the stock. Williams Capital set a $11.00 price objective on shares of Laredo Petroleum and gave the company a “hold” rating in a research report on Thursday, May 3rd. Robert W. Baird downgraded shares of Laredo Petroleum from an “outperform” rating to a “neutral” rating in a research report on Thursday, May 3rd. ValuEngine downgraded shares of Laredo Petroleum from a “sell” rating to a “strong sell” rating in a research report on Wednesday, May 2nd. Stephens reiterated a “hold” rating and set a $10.00 price target on shares of Laredo Petroleum in a research report on Thursday, March 15th. Finally, Bank of America reduced their price target on shares of Laredo Petroleum from $13.00 to $11.00 and set an “underperform” rating for the company in a research report on Thursday, March 8th. Three research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and four have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $12.34.

Shares of Laredo Petroleum opened at $9.63 on Thursday, MarketBeat Ratings reports. The stock has a market cap of $2.26 billion, a price-to-earnings ratio of 16.05, a PEG ratio of 1.82 and a beta of 1.20. Laredo Petroleum has a 1 year low of $7.41 and a 1 year high of $13.46. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.77 and a current ratio of 0.77.



Laredo Petroleum (NYSE:LPI) last issued its quarterly earnings data on Wednesday, May 2nd. The oil and gas producer reported $0.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.26 by ($0.02). Laredo Petroleum had a return on equity of 27.02% and a net margin of 63.53%. The firm had revenue of $259.70 million for the quarter, compared to analysts’ expectations of $211.73 million. During the same period in the previous year, the business posted $0.10 EPS. The business’s revenue for the quarter was up 37.4% compared to the same quarter last year. analysts predict that Laredo Petroleum will post 1.06 earnings per share for the current year.

Laredo Petroleum announced that its Board of Directors has initiated a stock buyback plan on Wednesday, February 14th that authorizes the company to buyback $200.00 million in shares. This buyback authorization authorizes the oil and gas producer to purchase shares of its stock through open market purchases. Shares buyback plans are often a sign that the company’s leadership believes its shares are undervalued.

Hedge funds and other institutional investors have recently made changes to their positions in the company. HBK Investments L P grew its stake in shares of Laredo Petroleum by 340.6% during the 4th quarter. HBK Investments L P now owns 277,200 shares of the oil and gas producer’s stock valued at $2,941,000 after buying an additional 214,288 shares during the period. Capital Fund Management S.A. grew its stake in shares of Laredo Petroleum by 1,247.9% during the 4th quarter. Capital Fund Management S.A. now owns 501,419 shares of the oil and gas producer’s stock valued at $5,320,000 after buying an additional 464,219 shares during the period. Elkfork Partners LLC purchased a new stake in shares of Laredo Petroleum during the 4th quarter valued at $131,000. Virtu Financial LLC purchased a new stake in shares of Laredo Petroleum during the 4th quarter valued at $154,000. Finally, BlackRock Inc. grew its stake in shares of Laredo Petroleum by 3.3% during the 4th quarter. BlackRock Inc. now owns 6,832,585 shares of the oil and gas producer’s stock valued at $72,492,000 after buying an additional 220,428 shares during the period.

About Laredo Petroleum

Laredo Petroleum, Inc operates as an independent energy company in the United States. It operates through two segments, Exploration and Production; and Midstream and Marketing. The company engages in the acquisition, exploration, and development of oil and natural gas properties; and the transportation of oil and natural gas primarily in the Permian Basin in West Texas, as well as rig fuel, natural gas lift, and water delivery and takeaway services.

Analyst Recommendations for Laredo Petroleum (NYSE:LPI)

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