Laredo Petroleum, Inc. (LPI) PT Lowered to $15.00 at Piper Jaffray Companies

Laredo Petroleum, Inc. (NYSE:LPI) had its price target reduced by Piper Jaffray Companies from $17.00 to $15.00 in a research report sent to investors on Monday. They currently have an overweight rating on the oil and gas producer’s stock.

Other equities analysts have also issued research reports about the stock. Seaport Global Securities lowered shares of Laredo Petroleum from a buy rating to a neutral rating and reduced their price objective for the company from $19.00 to $9.00 in a research report on Wednesday, June 21st. Scotiabank set a $13.00 price objective on shares of Laredo Petroleum and gave the company a hold rating in a research report on Saturday, July 1st. BidaskClub upgraded shares of Laredo Petroleum from a sell rating to a hold rating in a research report on Wednesday, July 12th. BMO Capital Markets set a $14.00 price objective on shares of Laredo Petroleum and gave the company a hold rating in a research report on Sunday, August 13th. Finally, J P Morgan Chase & Co reduced their price objective on shares of Laredo Petroleum from $14.00 to $13.00 and set a neutral rating for the company in a research report on Wednesday, May 31st. Three research analysts have rated the stock with a sell rating, ten have given a hold rating and eight have given a buy rating to the company’s stock. Laredo Petroleum presently has an average rating of Hold and a consensus target price of $14.73.

Laredo Petroleum (NYSE LPI) opened at 12.98 on Monday. The firm has a market cap of $3.11 billion, a PE ratio of 26.22 and a beta of 1.44. The firm’s 50-day moving average is $12.14 and its 200-day moving average is $12.35. Laredo Petroleum has a 12 month low of $9.57 and a 12 month high of $16.47.

Laredo Petroleum (NYSE:LPI) last announced its 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). The company had revenue of $187.00 million during the quarter, compared to the consensus estimate of $173.32 million. Laredo Petroleum had a net margin of 16.73% and a return on equity of 49.15%. The business’s quarterly revenue was up 27.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.13 EPS. Equities analysts expect that Laredo Petroleum will post $0.52 earnings per share for the current year.

WARNING: “Laredo Petroleum, Inc. (LPI) PT Lowered to $15.00 at Piper Jaffray Companies” was first reported by Transcript Daily and is the property of of Transcript Daily. If you are reading this article on another site, it was copied illegally and republished in violation of U.S. and international copyright laws. The correct version of this article can be viewed at https://transcriptdaily.com/2017/09/22/laredo-petroleum-inc-lpi-pt-lowered-to-15-00-at-piper-jaffray-companies.html.

A number of institutional investors and hedge funds have recently modified their holdings of LPI. Russell Investments Group Ltd. raised its position in Laredo Petroleum by 16,137.4% during the first quarter. Russell Investments Group Ltd. now owns 34,261 shares of the oil and gas producer’s stock valued at $500,000 after acquiring an additional 34,050 shares in the last quarter. American Century Companies Inc. raised its position in Laredo Petroleum by 381.5% during the first quarter. American Century Companies Inc. now owns 84,554 shares of the oil and gas producer’s stock valued at $1,234,000 after acquiring an additional 66,992 shares in the last quarter. Bank of New York Mellon Corp raised its position in Laredo Petroleum by 23.3% during the first quarter. Bank of New York Mellon Corp now owns 1,043,185 shares of the oil and gas producer’s stock valued at $15,230,000 after acquiring an additional 197,203 shares in the last quarter. BNP Paribas Arbitrage SA raised its position in Laredo Petroleum by 469.7% during the first quarter. BNP Paribas Arbitrage SA now owns 15,969 shares of the oil and gas producer’s stock valued at $233,000 after acquiring an additional 13,166 shares in the last quarter. Finally, Karp Capital Management Corp bought a new position in Laredo Petroleum during the first quarter valued at approximately $277,000.

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)

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 MarketBeat.com's FREE daily email newsletter.

Leave a Reply