Laredo Petroleum Inc (LPI) Receives $12.27 Consensus Price Target from Analysts

Shares of Laredo Petroleum Inc (NYSE:LPI) have been assigned a consensus rating of “Hold” from the seventeen research firms that are presently covering the company, Marketbeat Ratings reports. Three analysts have rated the stock with a sell recommendation, ten have given a hold recommendation and four have issued a buy recommendation on the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $12.09.

Several research firms have weighed in on LPI. Williams Capital restated a “hold” rating and issued a $8.00 price objective on shares of Laredo Petroleum in a research report on Tuesday. Zacks Investment Research lowered shares of Laredo Petroleum from a “buy” rating to a “hold” rating in a research note on Thursday, November 1st. Piper Jaffray Companies set a $14.00 price target on shares of Laredo Petroleum and gave the company a “buy” rating in a research note on Sunday, August 5th. Finally, Bank of America cut their price target on shares of Laredo Petroleum from $12.00 to $11.00 and set an “underperform” rating on the stock in a research note on Thursday, August 2nd.

Shares of LPI traded down $0.26 during mid-day trading on Friday, hitting $5.59. 376,136 shares of the company’s stock were exchanged, compared to its average volume of 6,575,121. Laredo Petroleum has a twelve month low of $4.82 and a twelve month high of $11.68. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 0.94. The firm has a market cap of $1.34 billion, a price-to-earnings ratio of 9.57, a price-to-earnings-growth ratio of 1.04 and a beta of 1.59.

Laredo Petroleum (NYSE:LPI) last issued its quarterly earnings results on Monday, November 5th. The oil and gas producer reported $0.27 earnings per share for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.03). The company had revenue of $279.70 million during the quarter, compared to the consensus estimate of $276.95 million. Laredo Petroleum had a net margin of 51.61% and a return on equity of 25.16%. Laredo Petroleum’s revenue for the quarter was up 35.9% on a year-over-year basis. During the same period last year, the company earned $0.13 earnings per share. As a group, research analysts predict that Laredo Petroleum will post 1.09 earnings per share for the current fiscal year.

In other Laredo Petroleum news, Director Peter Kagan sold 12,300,000 shares of Laredo Petroleum stock in a transaction dated Thursday, September 27th. The stock was sold at an average price of $8.08, for a total transaction of $99,384,000.00. Following the completion of the transaction, the director now owns 115,107 shares of the company’s stock, valued at approximately $930,064.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Pincus Private Equity Warburg sold 14,200,000 shares of Laredo Petroleum stock in a transaction dated Tuesday, September 11th. The shares were sold at an average price of $7.42, for a total value of $105,364,000.00. The disclosure for this sale can be found here. 2.20% of the stock is currently owned by company insiders.

A number of large investors have recently added to or reduced their stakes in LPI. Macquarie Group Ltd. lifted its position in Laredo Petroleum by 8.3% in the second quarter. Macquarie Group Ltd. now owns 107,200 shares of the oil and gas producer’s stock valued at $1,031,000 after purchasing an additional 8,200 shares during the last quarter. SG Americas Securities LLC boosted its holdings in Laredo Petroleum by 6.9% in the second quarter. SG Americas Securities LLC now owns 137,270 shares of the oil and gas producer’s stock worth $1,321,000 after acquiring an additional 8,918 shares in the last quarter. First Trust Advisors LP boosted its holdings in Laredo Petroleum by 3.4% in the third quarter. First Trust Advisors LP now owns 307,051 shares of the oil and gas producer’s stock worth $2,509,000 after acquiring an additional 10,177 shares in the last quarter. Martingale Asset Management L P bought a new stake in Laredo Petroleum in the second quarter worth $100,000. Finally, Creative Planning bought a new position in shares of Laredo Petroleum during the second quarter valued at $108,000.

About Laredo Petroleum

Laredo Petroleum, Inc operates as an independent energy company in the United States. It operates through two segments, Exploration and Production; and Midstream and Marketing. The company engages in the acquisition, exploration, and development of oil and natural gas properties; and the transportation of oil and natural gas primarily in the Permian Basin in West Texas, as well as rig fuel, natural gas lift, and water delivery and takeaway services.

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Analyst Recommendations for Laredo Petroleum (NYSE:LPI)

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