Laredo Petroleum, Inc. (LPI) Receives Consensus Recommendation of “Hold” from Brokerages
Laredo Petroleum, Inc. (NYSE:LPI) has been given a consensus rating of “Hold” by the twenty-three analysts that are currently covering the stock, Marketbeat reports. Three equities research analysts have rated the stock with a sell recommendation, nine have issued a hold recommendation and ten have assigned a buy recommendation to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $14.55.
A number of brokerages have recently issued reports on LPI. Williams Capital set a $14.00 price target on Laredo Petroleum and gave the company a “hold” rating in a report on Tuesday. Scotiabank set a $13.00 price target on Laredo Petroleum and gave the company a “hold” rating in a report on Saturday, July 1st. Stephens upgraded Laredo Petroleum from an “underweight” rating to a “hold” rating in a report on Monday, May 15th. Bank of America Corporation lifted their price target on Laredo Petroleum from $11.00 to $13.00 and gave the company an “underperform” rating in a report on Tuesday. Finally, Zacks Investment Research upgraded Laredo Petroleum from a “sell” rating to a “hold” rating in a report on Tuesday, August 1st.
Shares of Laredo Petroleum (NYSE:LPI) traded up 2.07% during mid-day trading on Friday, reaching $12.34. The company’s stock had a trading volume of 2,354,640 shares. The company has a 50-day moving average price of $11.49 and a 200 day moving average price of $12.74. The company has a market cap of $2.95 billion, a PE ratio of 24.93 and a beta of 1.41. Laredo Petroleum has a 52-week low of $9.57 and a 52-week high of $16.47.
Laredo Petroleum (NYSE:LPI) last announced its quarterly earnings results on Monday, August 7th. The oil and gas producer reported $0.10 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.11 by $0.01. Laredo Petroleum had a net margin of 16.73% and a return on equity of 49.15%. The company had revenue of $187 million during the quarter, compared to analysts’ expectations of $173.32 million. During the same quarter in the prior year, the business posted $0.13 earnings per share. The company’s revenue was up 27.5% compared to the same quarter last year. Equities analysts expect that Laredo Petroleum will post $0.50 earnings per share for the current year.
A number of hedge funds have recently modified their holdings of the company. Quantbot Technologies LP purchased a new stake in shares of Laredo Petroleum during the first quarter worth 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 worth $118,000 after buying an additional 5,977 shares in the last quarter. Glen Harbor Capital Management LLC purchased a new stake in shares of Laredo Petroleum during the first quarter worth approximately $122,000. James Investment Research Inc. purchased a new stake in shares of Laredo Petroleum during the first quarter worth approximately $149,000. Finally, Tiedemann Wealth Management LLC purchased a new stake in shares of Laredo Petroleum during the first quarter worth 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.
Receive News & Ratings for Laredo Petroleum Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Laredo Petroleum Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.