Laredo Petroleum, Inc. (LPI) PT Set at $14.00 by BMO Capital Markets
Laredo Petroleum, Inc. (NYSE:LPI) has been given a $14.00 price target by equities research analysts at BMO Capital Markets in a note issued to investors on Sunday. The firm currently has a “hold” rating on the oil and gas producer’s stock. BMO Capital Markets’ target price would indicate a potential upside of 13.45% from the stock’s previous close.
LPI has been the topic of several other reports. Zacks Investment Research cut Laredo Petroleum from a “hold” rating to a “sell” rating in a research report on Tuesday, July 18th. BidaskClub upgraded Laredo Petroleum from a “strong sell” rating to a “sell” rating in a research report on Wednesday, July 5th. J P Morgan Chase & Co lowered their price target on Laredo Petroleum from $14.00 to $13.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 31st. Bank of America Corporation assumed coverage on Laredo Petroleum in a research report on Wednesday, July 19th. They set an “underperform” rating and a $11.00 price target on the stock. Finally, Stephens upgraded Laredo Petroleum from an “underweight” rating to a “hold” rating in a research report on Monday, May 15th. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and ten have assigned a buy rating to the company. Laredo Petroleum currently has a consensus rating of “Hold” and an average price target of $14.87.
Laredo Petroleum (NYSE LPI) opened at 12.34 on Friday. The firm has a market cap of $2.95 billion, a price-to-earnings ratio of 24.93 and a beta of 1.41. The company’s 50-day moving average price is $11.56 and its 200-day moving average price is $12.73. Laredo Petroleum has a one year low of $9.57 and a one year high of $16.47.
Laredo Petroleum (NYSE:LPI) last announced its earnings results on Monday, August 7th. The oil and gas producer reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.11 by $0.01. The business had revenue of $187 million for the quarter, compared to the consensus estimate of $173.32 million. Laredo Petroleum had a net margin of 16.73% and a return on equity of 49.15%. The firm’s revenue was up 27.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.13 EPS. On average, analysts anticipate that Laredo Petroleum will post $0.50 EPS for the current year.
Hedge funds have recently modified their holdings of the company. Quantbot Technologies LP acquired a new stake in shares of Laredo Petroleum during the first quarter valued at approximately $114,000. Meeder Asset Management Inc. boosted its stake in shares of Laredo Petroleum by 282.5% in the first quarter. Meeder Asset Management Inc. now owns 8,093 shares of the oil and gas producer’s stock valued at $118,000 after buying an additional 5,977 shares during the period. Glen Harbor Capital Management LLC acquired a new stake in shares of Laredo Petroleum during the first quarter valued at approximately $122,000. James Investment Research Inc. acquired a new stake in shares of Laredo Petroleum during the first quarter valued at approximately $149,000. Finally, Tiedemann Wealth Management LLC acquired a new stake in shares of Laredo Petroleum during the first quarter valued at approximately $150,000.
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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