Laredo Petroleum, Inc. (LPI) Given a $14.00 Price Target by Scotiabank Analysts
Laredo Petroleum, Inc. (NYSE:LPI) has been assigned a $14.00 price target by equities researchers at Scotiabank in a report issued on Wednesday. The firm presently has a “hold” rating on the oil and gas producer’s stock. Scotiabank’s target price would indicate a potential upside of 36.99% from the stock’s current price.
A number of other equities research analysts also recently issued reports on LPI. Zacks Investment Research raised shares of Laredo Petroleum from a “sell” rating to a “hold” rating in a research note on Tuesday, August 1st. Williams Capital set a $14.00 price target on shares of Laredo Petroleum and gave the company a “hold” rating in a research note on Tuesday, August 8th. Bank of America Corporation upped their price target on shares of Laredo Petroleum from $11.00 to $13.00 and gave the company an “underperform” rating in a research note on Tuesday, August 8th. BMO Capital Markets set a $14.00 price target on shares of Laredo Petroleum and gave the company a “hold” rating in a research note on Sunday, August 13th. Finally, KeyCorp reaffirmed a “hold” rating on shares of Laredo Petroleum in a research note on Friday, September 1st. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eight have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $14.27.
Laredo Petroleum (NYSE:LPI) traded up $0.06 during trading on Wednesday, reaching $10.22. 523,727 shares of the company were exchanged, compared to its average volume of 3,180,000. The stock has a market capitalization of $2,480.00, a P/E ratio of 20.86, a price-to-earnings-growth ratio of 4.11 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 52 week low of $9.55 and a 52 week high of $16.47.
Laredo Petroleum (NYSE:LPI) last released its quarterly earnings results on Wednesday, November 1st. The oil and gas producer reported $0.13 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.14 by ($0.01). The business had revenue of $205.82 million for the quarter, compared to analysts’ expectations of $178.48 million. Laredo Petroleum had a net margin of 15.92% and a return on equity of 43.77%. Laredo Petroleum’s revenue for the quarter was up 28.9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.12 EPS. sell-side analysts anticipate that Laredo Petroleum will post 0.5 EPS for the current year.
A number of hedge funds have recently bought and sold shares of LPI. BlackRock Inc. increased its stake in Laredo Petroleum by 2,500.3% in the 1st quarter. BlackRock Inc. now owns 7,598,973 shares of the oil and gas producer’s stock worth $110,946,000 after buying an additional 7,306,738 shares during the period. WS Management Lllp increased its stake in Laredo Petroleum by 50.8% in the 3rd quarter. WS Management Lllp now owns 5,934,700 shares of the oil and gas producer’s stock worth $76,736,000 after buying an additional 2,000,000 shares during the period. Dimensional Fund Advisors LP increased its stake in Laredo Petroleum by 153.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,368,993 shares of the oil and gas producer’s stock worth $34,586,000 after buying an additional 1,434,079 shares during the period. Goldman Sachs Group Inc. increased its stake in Laredo Petroleum by 69.4% in the 2nd quarter. Goldman Sachs Group Inc. now owns 3,082,481 shares of the oil and gas producer’s stock worth $32,428,000 after buying an additional 1,263,202 shares during the period. Finally, Vanguard Group Inc. increased its stake in Laredo Petroleum by 7.9% in the 2nd quarter. Vanguard Group Inc. now owns 16,083,332 shares of the oil and gas producer’s stock worth $169,197,000 after buying an additional 1,176,608 shares during the period.
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Laredo Petroleum Company Profile
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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