Credit Suisse Group began coverage on shares of Laredo Petroleum (NYSE:LPI) in a report published on Monday, Marketbeat Ratings reports. The brokerage issued a neutral rating and a $12.00 target price on the oil and gas producer’s stock.
LPI has been the topic of several other research reports. BMO Capital Markets set a $14.00 target price on Laredo Petroleum and gave the company a hold rating in a research note on Sunday, August 13th. Zacks Investment Research cut Laredo Petroleum from a buy rating to a hold rating in a research note on Friday, October 20th. Cowen reissued a hold rating and issued a $12.00 price target on shares of Laredo Petroleum in a research note on Sunday, September 17th. KeyCorp reissued a hold rating on shares of Laredo Petroleum in a research note on Friday, September 1st. Finally, Seaport Global Securities reissued a neutral rating and issued a $9.50 price target (down previously from $10.00) on shares of Laredo Petroleum in a research note on Monday, October 9th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and eight have assigned a buy rating to the stock. Laredo Petroleum currently has an average rating of Hold and an average price target of $14.08.
Laredo Petroleum (LPI) opened at $10.00 on Monday. The firm has a market capitalization of $2,430.00, a PE ratio of 21.18, a P/E/G ratio of 4.15 and a beta of 1.32. Laredo Petroleum has a 12 month low of $9.55 and a 12 month high of $15.55. The company has a debt-to-equity ratio of 4.16, a current ratio of 0.64 and a quick ratio of 0.64.
Laredo Petroleum (NYSE:LPI) last released its earnings results on Wednesday, November 1st. The oil and gas producer reported $0.13 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.14 by ($0.01). Laredo Petroleum had a net margin of 15.92% and a return on equity of 43.77%. The business had revenue of $205.82 million for the quarter, compared to analysts’ expectations of $178.48 million. During the same period last year, the firm earned $0.12 EPS. The company’s revenue was up 28.9% compared to the same quarter last year. analysts expect that Laredo Petroleum will post 0.5 earnings per share for the current fiscal year.
Large investors have recently made changes to their positions in the business. Koch Industries Inc. bought a new stake in Laredo Petroleum in the second quarter valued at $129,000. QCM Cayman Ltd. bought a new stake in Laredo Petroleum in the second quarter valued at $133,000. Teacher Retirement System of Texas grew its holdings in shares of Laredo Petroleum by 3.8% during the second quarter. Teacher Retirement System of Texas now owns 12,884 shares of the oil and gas producer’s stock worth $136,000 after purchasing an additional 468 shares during the last quarter. Fox Run Management L.L.C. bought a new stake in shares of Laredo Petroleum during the third quarter worth $167,000. Finally, BNP Paribas Arbitrage SA grew its holdings in shares of Laredo Petroleum by 4.8% during the second quarter. BNP Paribas Arbitrage SA now owns 16,735 shares of the oil and gas producer’s stock worth $176,000 after purchasing an additional 766 shares during the last quarter.
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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.
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