Laredo Petroleum, Inc. (NYSE:LPI) Receives Consensus Rating of “Hold” from Analysts

Laredo Petroleum, Inc. (NYSE:LPIGet Rating) has earned a consensus rating of “Hold” from the six ratings firms that are presently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and two have given a buy recommendation to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $98.00.

LPI has been the topic of several analyst reports. Piper Sandler lifted their price target on Laredo Petroleum from $71.00 to $72.00 and gave the stock a “neutral” rating in a report on Thursday, November 17th. Raymond James cut their price objective on Laredo Petroleum from $95.00 to $75.00 and set an “outperform” rating for the company in a research report on Monday, October 24th. Finally, StockNews.com assumed coverage on Laredo Petroleum in a research report on Wednesday, October 12th. They set a “hold” rating for the company.

Laredo Petroleum Stock Down 2.6 %

NYSE LPI opened at $62.94 on Friday. Laredo Petroleum has a 52 week low of $51.22 and a 52 week high of $120.86. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 1.18. The business’s fifty day simple moving average is $65.39 and its 200-day simple moving average is $72.70. The firm has a market cap of $1.06 billion, a PE ratio of 1.46 and a beta of 3.34.

Insider Buying and Selling at Laredo Petroleum

In other Laredo Petroleum news, CEO M. Jason Pigott sold 3,750 shares of Laredo Petroleum stock in a transaction dated Thursday, September 8th. The stock was sold at an average price of $69.88, for a total value of $262,050.00. Following the completion of the transaction, the chief executive officer now directly owns 114,407 shares of the company’s stock, valued at approximately $7,994,761.16. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders sold a total of 11,250 shares of company stock valued at $760,838 in the last three months. 2.20% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Laredo Petroleum

Several institutional investors have recently bought and sold shares of the company. Captrust Financial Advisors lifted its stake in Laredo Petroleum by 15.8% during the second quarter. Captrust Financial Advisors now owns 1,386 shares of the oil and gas producer’s stock worth $96,000 after purchasing an additional 189 shares during the last quarter. Royal Bank of Canada lifted its stake in Laredo Petroleum by 4.7% during the first quarter. Royal Bank of Canada now owns 4,298 shares of the oil and gas producer’s stock worth $340,000 after purchasing an additional 192 shares during the last quarter. Nisa Investment Advisors LLC lifted its stake in Laredo Petroleum by 57.5% during the second quarter. Nisa Investment Advisors LLC now owns 630 shares of the oil and gas producer’s stock worth $43,000 after purchasing an additional 230 shares during the last quarter. Arizona State Retirement System lifted its stake in Laredo Petroleum by 6.7% during the first quarter. Arizona State Retirement System now owns 3,922 shares of the oil and gas producer’s stock worth $310,000 after purchasing an additional 245 shares during the last quarter. Finally, Cetera Advisors LLC lifted its stake in Laredo Petroleum by 4.3% during the first quarter. Cetera Advisors LLC now owns 5,979 shares of the oil and gas producer’s stock worth $473,000 after purchasing an additional 247 shares during the last quarter. 77.39% of the stock is owned by institutional investors and hedge funds.

About Laredo Petroleum

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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 sells oil, natural gas liquids, and natural gas. As of December 31, 2021, it had assembled 166,064 net acres in the Permian Basin; and had total proved undeveloped reserves of 86,592 thousand barrels of oil equivalent.

Further Reading

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