Laredo Petroleum Inc. (LPI) Receives Average Rating of “Hold” from Brokerages
Shares of Laredo Petroleum Inc. (NYSE:LPI) have been assigned an average rating of “Hold” from the twenty-one ratings firms that are currently covering the stock. Two investment analysts have rated the stock with a sell recommendation, eleven have assigned a hold recommendation and seven have given a buy recommendation to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $12.19.
Several brokerages have weighed in on LPI. Barclays PLC reaffirmed a “buy” rating and set a $16.00 target price on shares of Laredo Petroleum in a research note on Wednesday, November 16th. JPMorgan Chase & Co. reaffirmed a “hold” rating on shares of Laredo Petroleum in a research note on Thursday, November 3rd. Zacks Investment Research cut Laredo Petroleum from a “buy” rating to a “hold” rating in a research report on Wednesday, October 26th. Credit Suisse Group AG cut Laredo Petroleum from a “neutral” rating to an “underperform” rating and set a $9.00 price target on the stock. in a research report on Thursday, October 13th. Finally, FBR & Co initiated coverage on Laredo Petroleum in a research report on Tuesday, September 13th. They set an “outperform” rating and a $14.00 price target on the stock.
Shares of Laredo Petroleum (NYSE:LPI) traded up 13.42% during mid-day trading on Wednesday, hitting $15.64. The stock had a trading volume of 4,725,227 shares. Laredo Petroleum has a 12-month low of $3.90 and a 12-month high of $16.33. The firm’s market cap is $3.72 billion. The company has a 50 day moving average price of $13.38 and a 200 day moving average price of $12.00.
Laredo Petroleum (NYSE:LPI) last announced its earnings results on Wednesday, November 2nd. The company reported $0.12 earnings per share for the quarter, meeting the consensus estimate of $0.12. The firm had revenue of $159.70 million for the quarter, compared to the consensus estimate of $150.09 million. Laredo Petroleum had a positive return on equity of 123.07% and a negative net margin of 225.04%. The firm’s revenue for the quarter was up 6.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.07 EPS. Equities analysts forecast that Laredo Petroleum will post $0.49 earnings per share for the current fiscal year.
Hedge funds have recently added to or reduced their stakes in the stock. Squarepoint Ops LLC purchased a new stake in Laredo Petroleum during the first quarter worth about $572,000. Oxford Asset Management purchased a new stake in Laredo Petroleum during the second quarter worth about $3,635,000. Commonwealth Equity Services Inc boosted its stake in Laredo Petroleum by 1.0% in the second quarter. Commonwealth Equity Services Inc now owns 99,172 shares of the company’s stock worth $1,039,000 after buying an additional 1,000 shares during the last quarter. Quantitative Investment Management LLC boosted its stake in Laredo Petroleum by 1,061.7% in the second quarter. Quantitative Investment Management LLC now owns 173,100 shares of the company’s stock worth $1,814,000 after buying an additional 158,200 shares during the last quarter. Finally, Emerald Acquisition Ltd. purchased a new stake in Laredo Petroleum during the second quarter worth about $2,362,000.
About Laredo Petroleum
Laredo Petroleum, Inc (Laredo) is an independent energy company 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. The Company’s segments include Exploration and production, and Midstream and marketing.
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