Credit Suisse Group upgraded shares of Laredo Petroleum (NYSE:LPI) from an underperform rating to a neutral rating in a research note released on Tuesday, Benzinga reports. The brokerage currently has $2.83 price objective on the oil and gas producer’s stock. The analysts noted that the move was a valuation call.

Several other analysts have also recently commented on the stock. Williams Capital raised shares of Laredo Petroleum from a hold rating to a buy rating and increased their price target for the company from $4.00 to $5.50 in a research note on Thursday, May 16th. Zacks Investment Research upgraded shares of HB Fuller from a sell rating to a hold rating in a report on Wednesday, July 3rd. Robert W. Baird increased their price objective on shares of Carvana from $65.00 to $85.00 and gave the company an outperform rating in a report on Thursday, May 9th. Finally, Capital One Financial upgraded shares of Cimarex Energy from an equal weight rating to an overweight rating in a report on Thursday, May 23rd. One analyst has rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the company. The stock currently has an average rating of Hold and an average target price of $6.51.

LPI opened at $3.09 on Tuesday. Laredo Petroleum has a one year low of $2.40 and a one year high of $10.02. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.85 and a quick ratio of 0.85. The firm’s 50 day moving average is $2.75. The company has a market capitalization of $707.30 million, a PE ratio of 3.74 and a beta of 1.47.

Laredo Petroleum (NYSE:LPI) last released its quarterly earnings results on Wednesday, May 1st. The oil and gas producer reported $0.12 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.10 by $0.02. Laredo Petroleum had a net margin of 21.68% and a return on equity of 17.30%. The business had revenue of $208.95 million for the quarter, compared to analysts’ expectations of $198.64 million. During the same period in the prior year, the firm earned $0.24 earnings per share. Laredo Petroleum’s revenue was down 19.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that Laredo Petroleum will post 0.74 EPS for the current fiscal year.

Institutional investors and hedge funds have recently bought and sold shares of the business. Oregon Public Employees Retirement Fund acquired a new stake in Laredo Petroleum in the fourth quarter worth $209,000. Metropolitan Life Insurance Co. NY raised its holdings in Laredo Petroleum by 356.6% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 51,369 shares of the oil and gas producer’s stock worth $186,000 after purchasing an additional 40,119 shares during the period. Norges Bank acquired a new stake in Laredo Petroleum in the fourth quarter worth $11,611,000. Virtu Financial LLC raised its holdings in Laredo Petroleum by 14.5% in the first quarter. Virtu Financial LLC now owns 29,013 shares of the oil and gas producer’s stock worth $90,000 after purchasing an additional 3,680 shares during the period. Finally, Municipal Employees Retirement System of Michigan acquired a new stake in Laredo Petroleum in the fourth quarter worth $208,000. Institutional investors own 96.45% of the company’s stock.

About Laredo Petroleum

Laredo Petroleum, Inc, an independent energy company, engages in the acquisition, exploration, and development of oil and natural gas properties in the Permian Basin of West Texas, the United States. The company also provides midstream and marketing services comprising transportation and marketing of oil and natural gas; and natural gas lift systems, crude oil and natural gas gathering, and water delivery and takeaway services.

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Analyst Recommendations for Laredo Petroleum (NYSE:LPI)

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