Laredo Petroleum (NYSE:LPI)‘s stock had its “buy” rating reiterated by investment analysts at Piper Jaffray Companies in a research report issued to clients and investors on Tuesday. They presently have a $16.00 price objective on the oil and gas producer’s stock. Piper Jaffray Companies’ price objective points to a potential upside of 42.73% from the stock’s current price.

Other equities analysts also recently issued reports about the company. Zacks Investment Research upgraded Laredo Petroleum from a “hold” rating to a “buy” rating and set a $14.00 target price on the stock in a research report on Tuesday, October 17th. Stifel Nicolaus reiterated a “buy” rating and set a $17.00 target price on shares of Laredo Petroleum in a research report on Wednesday, October 4th. Barclays reiterated a “buy” rating on shares of Laredo Petroleum in a research report on Thursday, November 23rd. Scotiabank set a $14.00 price objective on Laredo Petroleum and gave the company a “hold” rating in a research report on Wednesday, November 22nd. Finally, Cowen restated a “hold” rating and issued a $12.00 price objective on shares of Laredo Petroleum in a research report on Sunday, September 17th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and eight have assigned a buy rating to the company. The company has an average rating of “Hold” and an average target price of $13.91.

Laredo Petroleum (NYSE:LPI) traded up $0.31 during midday trading on Tuesday, reaching $11.21. The company had a trading volume of 2,850,832 shares, compared to its average volume of 2,408,467. The stock has a market capitalization of $2,720.00, a P/E ratio of 22.42, a PEG ratio of 2.46 and a beta of 1.32. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 4.16. Laredo Petroleum has a 12 month low of $9.46 and a 12 month high of $15.15.

Laredo Petroleum (NYSE:LPI) last released its earnings results on Wednesday, November 1st. The oil and gas producer reported $0.13 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.14 by ($0.01). The company 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% on a year-over-year basis. During the same quarter last year, the firm posted $0.12 earnings per share. sell-side analysts anticipate that Laredo Petroleum will post 0.52 earnings per share for the current fiscal year.

Several institutional investors have recently made changes to their positions in LPI. WS Management Lllp lifted its position in shares of Laredo Petroleum by 50.8% in the third quarter. WS Management Lllp now owns 5,934,700 shares of the oil and gas producer’s stock valued at $76,736,000 after acquiring an additional 2,000,000 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in shares of Laredo Petroleum by 69.4% in the second 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 in the last quarter. Vanguard Group Inc. lifted its position in shares of Laredo Petroleum by 7.9% in the second 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 in the last quarter. Vaughan Nelson Investment Management L.P. lifted its position in shares of Laredo Petroleum by 36.8% in the third quarter. Vaughan Nelson Investment Management L.P. now owns 3,886,100 shares of the oil and gas producer’s stock worth $50,247,000 after buying an additional 1,044,525 shares in the last quarter. Finally, State Street Corp lifted its position in shares of Laredo Petroleum by 15.9% in the second quarter. State Street Corp now owns 5,810,244 shares of the oil and gas producer’s stock worth $61,121,000 after buying an additional 799,073 shares in the last quarter.

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About Laredo Petroleum

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.

Analyst Recommendations for Laredo Petroleum (NYSE:LPI)

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