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 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.
Receive News & Ratings for Laredo Petroleum Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Laredo Petroleum and related companies with MarketBeat.com's FREE daily email newsletter.