Laredo Petroleum, Inc. (NYSE:LPI) had its target price trimmed by Barclays PLC from $15.00 to $14.00 in a research report sent to investors on Monday morning. The firm currently has an overweight rating on the oil and gas producer’s stock.
A number of other analysts also recently weighed in on the company. Zacks Investment Research upgraded Laredo Petroleum from a sell rating to a hold rating in a report on Tuesday, August 1st. BMO Capital Markets set a $14.00 price target on Laredo Petroleum and gave the stock a hold rating in a report on Tuesday, October 10th. Stifel Nicolaus reiterated a buy rating and set a $17.00 price target on shares of Laredo Petroleum in a report on Wednesday, October 4th. Seaport Global Securities reissued a neutral rating and set a $9.50 price objective (down previously from $10.00) on shares of Laredo Petroleum in a research report on Monday, October 9th. Finally, KeyCorp reissued a hold rating on shares of Laredo Petroleum in a research report on Friday, September 1st. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eight have assigned a buy rating to the stock. The company has an average rating of Hold and an average price target of $14.20.
Laredo Petroleum (NYSE:LPI) traded up $0.10 during midday trading on Monday, reaching $10.03. The company’s stock had a trading volume of 3,373,100 shares, compared to its average volume of 3,678,621. 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 $9.55 and a 12-month high of $16.47. The company has a market capitalization of $2,430.00, a PE ratio of 20.26, a PEG ratio of 3.99 and a beta of 1.39.
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 consensus estimate of $0.14 by ($0.01). Laredo Petroleum had a return on equity of 43.77% and a net margin of 15.92%. The business had revenue of $205.82 million for the quarter, compared to the consensus estimate of $178.48 million. During the same quarter in the previous year, the company earned $0.12 earnings per share. The firm’s revenue for the quarter was up 28.9% on a year-over-year basis. equities research analysts expect that Laredo Petroleum will post 0.5 earnings per share for the current year.
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A number of institutional investors and hedge funds have recently made changes to their positions in the business. Teacher Retirement System of Texas grew its holdings in Laredo Petroleum by 3.8% in the second quarter. Teacher Retirement System of Texas now owns 12,884 shares of the oil and gas producer’s stock worth $136,000 after purchasing an additional 468 shares during the period. Public Employees Retirement Association of Colorado increased its holdings in Laredo Petroleum by 1.6% during the second quarter. Public Employees Retirement Association of Colorado now owns 35,230 shares of the oil and gas producer’s stock valued at $371,000 after buying an additional 546 shares during the last quarter. BNP Paribas Arbitrage SA increased its holdings in Laredo Petroleum by 4.8% during the second quarter. BNP Paribas Arbitrage SA now owns 16,735 shares of the oil and gas producer’s stock valued at $176,000 after buying an additional 766 shares during the last quarter. Public Employees Retirement System of Ohio increased its holdings in Laredo Petroleum by 2.0% during the first quarter. Public Employees Retirement System of Ohio now owns 69,338 shares of the oil and gas producer’s stock valued at $1,012,000 after buying an additional 1,327 shares during the last quarter. Finally, Legal & General Group Plc increased its holdings in Laredo Petroleum by 3.2% during the second quarter. Legal & General Group Plc now owns 53,014 shares of the oil and gas producer’s stock valued at $558,000 after buying an additional 1,635 shares during the last quarter.
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.
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