Laredo Petroleum, Inc. (LPI) Earns Buy Rating from Barclays PLC
A number of other research firms also recently commented on LPI. Zacks Investment Research upgraded shares of Laredo Petroleum from a hold rating to a buy rating and set a $14.00 target price on the stock in a report on Tuesday, October 17th. BMO Capital Markets set a $14.00 price target on shares of Laredo Petroleum and gave the company a hold rating in a report on Tuesday, October 10th. Piper Jaffray Companies restated a buy rating and set a $15.00 price target on shares of Laredo Petroleum in a report on Wednesday. KeyCorp restated a hold rating on shares of Laredo Petroleum in a report on Friday, November 10th. Finally, Stifel Nicolaus restated a buy rating and set a $17.00 price target on shares of Laredo Petroleum in a report on Wednesday, October 4th. Two investment 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. The stock presently has an average rating of Hold and a consensus price target of $14.27.
Shares of Laredo Petroleum (NYSE LPI) opened at $10.22 on Thursday. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 4.16. Laredo Petroleum has a fifty-two week low of $9.55 and a fifty-two week high of $16.47. The company has a market cap of $2,478.47, a P/E ratio of 20.86, a P/E/G ratio of 4.11 and a beta of 1.39.
Laredo Petroleum (NYSE:LPI) last released its earnings results on Wednesday, November 1st. The oil and gas producer reported $0.13 EPS for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.01). Laredo Petroleum had a return on equity of 43.77% and a net margin of 15.92%. The business had revenue of $205.82 million during the quarter, compared to the consensus estimate of $178.48 million. During the same quarter in the previous year, the firm earned $0.12 earnings per share. The firm’s revenue for the quarter was up 28.9% compared to the same quarter last year. analysts predict that Laredo Petroleum will post 0.5 earnings per share for the current fiscal year.
Institutional investors have recently added to or reduced their stakes in the business. Koch Industries Inc. acquired a new position in Laredo Petroleum in the 2nd quarter valued at approximately $129,000. QCM Cayman Ltd. acquired a new position in Laredo Petroleum in the 2nd quarter valued at approximately $133,000. Teacher Retirement System of Texas increased its stake in Laredo Petroleum by 3.8% in the 2nd quarter. Teacher Retirement System of Texas now owns 12,884 shares of the oil and gas producer’s stock valued at $136,000 after buying an additional 468 shares during the period. Fox Run Management L.L.C. acquired a new position in Laredo Petroleum in the 3rd quarter valued at approximately $167,000. Finally, BNP Paribas Arbitrage SA increased its stake in Laredo Petroleum by 4.8% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 16,735 shares of the oil and gas producer’s stock valued at $176,000 after buying an additional 766 shares during the period.
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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.
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