Stifel Nicolaus reissued their buy rating on shares of Laredo Petroleum, Inc. (NYSE:LPI) in a research report released on Friday, July 14th. The brokerage currently has a $17.00 price target on the oil and gas producer’s stock.
Several other equities analysts have also recently commented on LPI. UBS AG assumed coverage on shares of Laredo Petroleum in a research note on Thursday, March 23rd. They issued a neutral rating and a $14.00 price objective for the company. Scotiabank set a $13.00 price objective on shares of Laredo Petroleum and gave the company a hold rating in a research note on Saturday, July 1st. Stephens raised shares of Laredo Petroleum from an underweight rating to a hold rating in a research report on Monday, May 15th. Barclays PLC reissued a buy rating and set a $18.00 target price (down previously from $19.00) on shares of Laredo Petroleum in a research report on Thursday, April 20th. Finally, BMO Capital Markets reissued a hold rating and set a $10.00 target price on shares of Laredo Petroleum in a research report on Tuesday, June 27th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and ten have issued a buy rating to the company. Laredo Petroleum presently has a consensus rating of Hold and a consensus price target of $14.87.
Shares of Laredo Petroleum (LPI) opened at 12.34 on Friday. 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 52 week low of $9.57 and a 52 week high of $16.47. The stock has a market capitalization of $2.95 billion, a PE ratio of 24.93 and a beta of 1.41.
Laredo Petroleum (NYSE:LPI) last posted its quarterly earnings results on Monday, August 7th. The oil and gas producer reported $0.10 EPS for the quarter, missing the 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 for the quarter, compared to analysts’ expectations of $173.32 million. During the same quarter in the prior year, the firm earned $0.13 earnings per share. The company’s revenue was up 27.5% on a year-over-year basis. Equities research analysts predict that Laredo Petroleum will post $0.50 EPS for the current year.
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Institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. boosted 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 valued at $169,197,000 after buying an additional 1,176,608 shares during the last quarter. BlackRock Inc. boosted its position in shares of Laredo Petroleum by 2,500.3% in the first quarter. BlackRock Inc. now owns 7,598,973 shares of the oil and gas producer’s stock valued at $110,946,000 after buying an additional 7,306,738 shares during the last quarter. State Street Corp raised its stake in shares of Laredo Petroleum by 0.4% in the first quarter. State Street Corp now owns 5,011,171 shares of the oil and gas producer’s stock valued at $73,163,000 after buying an additional 18,750 shares during the period. Wellington Management Group LLP raised its stake in shares of Laredo Petroleum by 25.2% in the first quarter. Wellington Management Group LLP now owns 4,311,310 shares of the oil and gas producer’s stock valued at $62,944,000 after buying an additional 869,100 shares during the period. Finally, Point72 Asset Management L.P. raised its stake in shares of Laredo Petroleum by 150.2% in the first quarter. Point72 Asset Management L.P. now owns 3,748,400 shares of the oil and gas producer’s stock valued at $54,727,000 after buying an additional 2,250,300 shares during the period.
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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