Brokerages Set Laredo Petroleum, Inc. (LPI) Price Target at $14.48

Shares of Laredo Petroleum, Inc. (NYSE:LPI) have been assigned a consensus recommendation of “Hold” from the twenty-two analysts that are currently covering the firm, MarketBeat reports. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and eight have assigned a buy rating to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $14.28.

A number of analysts recently issued reports on the stock. Zacks Investment Research upgraded shares of Laredo Petroleum from a “sell” rating to a “hold” rating in a research report on Tuesday, August 1st. BMO Capital Markets set a $14.00 target price on shares of Laredo Petroleum and gave the stock a “hold” rating in a research report on Tuesday, October 10th. Stifel Nicolaus restated a “buy” rating and set a $17.00 target price on shares of Laredo Petroleum in a research report on Wednesday, October 4th. Seaport Global Securities restated a “neutral” rating and set a $9.50 target price (down previously from $10.00) on shares of Laredo Petroleum in a research report on Monday, October 9th. Finally, KeyCorp restated a “hold” rating on shares of Laredo Petroleum in a research report on Friday, September 1st.

Shares of Laredo Petroleum (NYSE LPI) traded down $0.03 during midday trading on Friday, reaching $10.00. 2,995,000 shares of the company were exchanged, compared to its average volume of 3,675,583. Laredo Petroleum has a 1 year low of $9.55 and a 1 year high of $16.47. The firm has a market capitalization of $2,430.00, a price-to-earnings ratio of 20.47, a P/E/G ratio of 4.03 and a beta of 1.39. The company has a debt-to-equity ratio of 4.16, a quick ratio of 0.64 and a current ratio of 0.64.

Laredo Petroleum (NYSE:LPI) last announced its earnings results on Wednesday, November 1st. The oil and gas producer reported $0.13 earnings per share (EPS) for the quarter, missing the Zacks’ 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 firm had revenue of $205.82 million for the quarter, compared to analyst estimates of $178.48 million. During the same quarter last year, the business posted $0.12 EPS. The firm’s revenue was up 28.9% compared to the same quarter last year. analysts anticipate that Laredo Petroleum will post 0.5 EPS for the current fiscal year.

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A number of institutional investors have recently added to or reduced their stakes in LPI. BlackRock Inc. increased its stake in Laredo Petroleum by 2,500.3% during the 1st quarter. BlackRock Inc. now owns 7,598,973 shares of the oil and gas producer’s stock worth $110,946,000 after buying an additional 7,306,738 shares during the period. WS Management Lllp increased its stake in Laredo Petroleum by 50.8% during the 3rd quarter. WS Management Lllp now owns 5,934,700 shares of the oil and gas producer’s stock worth $76,736,000 after buying an additional 2,000,000 shares during the period. Dimensional Fund Advisors LP increased its stake in Laredo Petroleum by 153.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,368,993 shares of the oil and gas producer’s stock worth $34,586,000 after buying an additional 1,434,079 shares during the period. Goldman Sachs Group Inc. increased its stake in Laredo Petroleum by 69.4% during the 2nd quarter. Goldman Sachs Group Inc. now owns 3,082,481 shares of the oil and gas producer’s stock worth $32,428,000 after buying an additional 1,263,202 shares during the period. Finally, Vanguard Group Inc. increased its stake in Laredo Petroleum by 7.9% during the 2nd quarter. Vanguard Group Inc. now owns 16,083,332 shares of the oil and gas producer’s stock worth $169,197,000 after buying an additional 1,176,608 shares during the period.

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)

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