Laredo Petroleum (NYSE:LPI) was upgraded by equities researchers at Robert W. Baird from a “neutral” rating to an “outperform” rating in a report released on Thursday, MarketBeat Ratings reports. The firm presently has a $7.00 target price on the oil and gas producer’s stock, up from their prior target price of $3.00. Robert W. Baird’s target price would suggest a potential upside of 97.74% from the company’s current price.
A number of other analysts have also recently commented on LPI. Piper Jaffray Companies cut shares of Laredo Petroleum from an “overweight” rating to a “neutral” rating in a research note on Wednesday, January 9th. Williams Capital reissued a “hold” rating and set a $5.00 target price on shares of Laredo Petroleum in a research note on Wednesday, January 23rd. Raymond James set a $5.00 target price on shares of Laredo Petroleum and gave the stock a “buy” rating in a research note on Wednesday, January 23rd. Zacks Investment Research raised shares of Laredo Petroleum from a “sell” rating to a “hold” rating in a research note on Saturday, January 26th. Finally, Societe Generale cut shares of Laredo Petroleum from a “buy” rating to a “hold” rating in a research note on Friday, February 15th. Three research analysts have rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company’s stock. Laredo Petroleum has an average rating of “Hold” and an average price target of $7.00.
Shares of Laredo Petroleum stock traded down $0.06 during trading hours on Thursday, reaching $3.54. The stock had a trading volume of 3,954,228 shares, compared to its average volume of 5,579,187. The company has a market cap of $851.60 million, a P/E ratio of 4.50 and a beta of 1.45. Laredo Petroleum has a twelve month low of $2.80 and a twelve month high of $10.43. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.85 and a current ratio of 0.85.
Laredo Petroleum (NYSE:LPI) last issued its quarterly earnings data on Wednesday, May 1st. The oil and gas producer reported $0.12 earnings per share for the quarter, topping analysts’ consensus estimates of $0.10 by $0.02. The business had revenue of $208.95 million during the quarter, compared to the consensus estimate of $198.64 million. Laredo Petroleum had a net margin of 21.68% and a return on equity of 17.30%. The company’s revenue was down 19.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.24 earnings per share. Equities research analysts forecast that Laredo Petroleum will post 0.66 EPS for the current year.
A number of hedge funds and other institutional investors have recently made changes to their positions in LPI. Pearl River Capital LLC purchased a new stake in Laredo Petroleum during the 4th quarter valued at about $35,000. Pitcairn Co. purchased a new stake in Laredo Petroleum during the 4th quarter valued at about $42,000. Cornerstone Investment Partners LLC purchased a new stake in Laredo Petroleum during the 1st quarter valued at about $51,000. Shelton Capital Management purchased a new stake in Laredo Petroleum during the 4th quarter valued at about $56,000. Finally, Raymond James Financial Services Advisors Inc. purchased a new stake in Laredo Petroleum during the 1st quarter valued at about $57,000.
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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