Piper Jaffray Companies reiterated their buy rating on shares of Laredo Petroleum (NYSE:LPI) in a report released on Tuesday, January 9th. They currently have a $16.00 target price on the oil and gas producer’s stock.
Several other research firms also recently issued reports on LPI. Stifel Nicolaus reaffirmed a buy rating and set a $17.00 price objective on shares of Laredo Petroleum in a report on Wednesday, October 4th. Cowen reaffirmed a hold rating and set a $12.00 price objective on shares of Laredo Petroleum in a report on Sunday, September 17th. Barclays decreased their price objective on shares of Laredo Petroleum from $15.00 to $14.00 and set an overweight rating for the company in a report on Monday, November 20th. Zacks Investment Research raised shares of Laredo Petroleum from a hold rating to a buy rating and set a $14.00 price objective for the company in a report on Tuesday, October 17th. Finally, Seaport Global Securities reaffirmed a neutral rating and set a $9.50 price objective (down from $10.00) on shares of Laredo Petroleum in a report on Monday, October 9th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eight have issued a buy rating to the company. The company presently has a consensus rating of Hold and an average price target of $13.91.
Laredo Petroleum (LPI) opened at $11.07 on Tuesday. Laredo Petroleum has a 1 year low of $9.46 and a 1 year high of $15.15. The company has a market cap of $2,684.61, a P/E ratio of 22.14, a P/E/G ratio of 2.53 and a beta of 1.32. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 4.16.
Laredo Petroleum (NYSE:LPI) last announced its quarterly earnings data on Wednesday, November 1st. The oil and gas producer reported $0.13 EPS for the quarter, missing the Zacks’ consensus estimate of $0.14 by ($0.01). The company had revenue of $205.82 million for the quarter, compared to analysts’ expectations of $178.48 million. Laredo Petroleum had a net margin of 15.92% and a return on equity of 43.77%. The business’s revenue for the quarter was up 28.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.12 earnings per share. equities analysts anticipate that Laredo Petroleum will post 0.52 EPS for the current fiscal year.
Hedge funds have recently made changes to their positions in the company. Koch Industries Inc. acquired a new position in shares of Laredo Petroleum in the 2nd quarter valued at $129,000. QCM Cayman Ltd. acquired a new position in shares of Laredo Petroleum in the 2nd quarter valued at $133,000. Fox Run Management L.L.C. acquired a new position in shares of Laredo Petroleum in the 3rd quarter valued at $167,000. BNP Paribas Arbitrage SA raised its stake in shares of Laredo Petroleum by 4.8% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 16,735 shares of the oil and gas producer’s stock valued at $176,000 after buying an additional 766 shares in the last quarter. Finally, Calamos Advisors LLC bought a new stake in shares of Laredo Petroleum in the 3rd quarter worth about $177,000.
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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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