Piper Jaffray Companies reiterated their buy rating on shares of Laredo Petroleum (NYSE:LPI) in a report released on Tuesday, January 9th. The firm currently has a $16.00 price target on the oil and gas producer’s stock.
LPI has been the subject of a number of other research reports. 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 research report on Tuesday, October 17th. BMO Capital Markets set a $14.00 price objective on shares of Laredo Petroleum and gave the stock a hold rating in a research report on Tuesday, October 10th. Credit Suisse Group started coverage on shares of Laredo Petroleum in a research report on Monday, December 11th. They issued a neutral rating and a $12.00 price target for the company. JPMorgan Chase & Co. cut shares of Laredo Petroleum from a neutral rating to an underweight rating and set a $13.00 price target for the company. in a research report on Friday, December 15th. Finally, KeyCorp reissued a hold rating on shares of Laredo Petroleum in a research report on Friday, November 10th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and seven have assigned a buy rating to the company. The company presently has an average rating of Hold and a consensus target price of $13.59.
Shares of Laredo Petroleum (NYSE LPI) traded up $0.12 during midday trading on Tuesday, hitting $9.73. 2,270,000 shares of the stock were exchanged, compared to its average volume of 2,790,000. The firm has a market cap of $2,360.00, a P/E ratio of 19.46, a P/E/G ratio of 2.03 and a beta of 1.32. 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 has a fifty-two week low of $9.18 and a fifty-two week high of $15.15.
Laredo Petroleum (NYSE:LPI) last announced its quarterly 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). The firm had revenue of $205.82 million for the quarter, compared to analyst estimates of $178.48 million. Laredo Petroleum had a return on equity of 43.77% and a net margin of 15.92%. The firm’s quarterly revenue was up 28.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.12 EPS. equities research analysts forecast that Laredo Petroleum will post 0.52 earnings per share for the current fiscal year.
Institutional investors have recently added to or reduced their stakes in the company. State of Alaska Department of Revenue acquired a new stake in Laredo Petroleum during the 4th quarter worth $123,000. QCM Cayman Ltd. acquired a new stake in Laredo Petroleum during the 2nd quarter worth $133,000. Fox Run Management L.L.C. acquired a new stake in Laredo Petroleum during the 3rd quarter worth $167,000. Calamos Advisors LLC acquired a new stake in Laredo Petroleum during the 3rd quarter worth $177,000. Finally, BNP Paribas Arbitrage SA raised its stake in Laredo Petroleum by 4.8% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 16,735 shares of the oil and gas producer’s stock worth $176,000 after acquiring an additional 766 shares in the last quarter.
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Laredo Petroleum Company Profile
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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