Research analysts at MKM Partners assumed coverage on shares of Laredo Petroleum (NYSE:LPI) in a research note issued on Wednesday, Marketbeat reports. The firm set a “buy” rating and a $9.00 price target on the oil and gas producer’s stock. MKM Partners’ price target suggests a potential upside of 103.16% from the stock’s previous close.

Several other research firms have also recently commented on LPI. Zacks Investment Research cut shares of Laredo Petroleum from a “buy” rating to a “hold” rating in a research note on Thursday, November 1st. Williams Capital reissued a “hold” rating and set a $10.00 price target on shares of Laredo Petroleum in a research note on Tuesday, August 21st. Three analysts have rated the stock with a sell rating, eight have given a hold rating and four have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $11.23.

NYSE LPI opened at $4.43 on Wednesday. The company has a market cap of $1.11 billion, a PE ratio of 7.38, a PEG ratio of 0.93 and a beta of 1.62. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.73 and a quick ratio of 0.73. Laredo Petroleum has a 1-year low of $4.24 and a 1-year high of $11.68.

Laredo Petroleum (NYSE:LPI) last released its quarterly earnings results on Monday, November 5th. The oil and gas producer reported $0.27 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.30 by ($0.03). Laredo Petroleum had a net margin of 51.61% and a return on equity of 24.30%. The company had revenue of $279.70 million for the quarter, compared to the consensus estimate of $276.95 million. During the same period last year, the company earned $0.13 earnings per share. Laredo Petroleum’s revenue for the quarter was up 35.9% compared to the same quarter last year. Equities analysts predict that Laredo Petroleum will post 1.02 earnings per share for the current year.

In other Laredo Petroleum news, Director Peter Kagan sold 12,300,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 27th. The shares were sold at an average price of $8.08, for a total value of $99,384,000.00. Following the transaction, the director now directly owns 115,107 shares of the company’s stock, valued at $930,064.56. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, major shareholder Pincus Private Equity Warburg sold 14,200,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 11th. The shares were sold at an average price of $7.42, for a total transaction of $105,364,000.00. The disclosure for this sale can be found here. 2.20% of the stock is currently owned by company insiders.

A number of hedge funds have recently made changes to their positions in LPI. BlackRock Inc. boosted its stake in Laredo Petroleum by 118.3% in the third quarter. BlackRock Inc. now owns 22,944,636 shares of the oil and gas producer’s stock valued at $187,459,000 after acquiring an additional 12,434,795 shares during the last quarter. Laurion Capital Management LP bought a new position in Laredo Petroleum in the third quarter valued at approximately $29,316,000. LSV Asset Management boosted its stake in Laredo Petroleum by 267.0% in the second quarter. LSV Asset Management now owns 3,452,709 shares of the oil and gas producer’s stock valued at $33,215,000 after acquiring an additional 2,512,009 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Laredo Petroleum by 52.4% in the second quarter. Dimensional Fund Advisors LP now owns 7,234,971 shares of the oil and gas producer’s stock valued at $69,599,000 after acquiring an additional 2,487,113 shares during the last quarter. Finally, Marshall Wace LLP boosted its stake in Laredo Petroleum by 4,925.8% in the third quarter. Marshall Wace LLP now owns 2,021,572 shares of the oil and gas producer’s stock valued at $16,516,000 after acquiring an additional 1,981,348 shares during the last quarter.

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.

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Analyst Recommendations for Laredo Petroleum (NYSE:LPI)

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