Shares of Laredo Petroleum Inc (NYSE:LPI) have received a consensus rating of “Hold” from the twenty-one analysts that are presently covering the firm, MarketBeat reports. Three equities research analysts have rated the stock with a sell recommendation, eleven have given a hold recommendation and six have assigned a buy recommendation to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $12.43.
Several brokerages recently issued reports on LPI. Williams Capital reissued a “hold” rating and issued a $13.00 price objective on shares of Laredo Petroleum in a research note on Thursday, January 25th. Zacks Investment Research raised Laredo Petroleum from a “hold” rating to a “buy” rating and set a $13.00 price objective on the stock in a research note on Wednesday, January 24th. BMO Capital Markets reissued a “hold” rating and issued a $12.00 price objective on shares of Laredo Petroleum in a research note on Thursday, January 11th. National Securities began coverage on Laredo Petroleum in a research note on Tuesday, January 16th. They issued a “buy” rating on the stock. Finally, Piper Jaffray reaffirmed a “buy” rating and set a $16.00 target price on shares of Laredo Petroleum in a research report on Tuesday, January 9th.
Several institutional investors and hedge funds have recently modified their holdings of the company. SailingStone Capital Partners LLC lifted its holdings in shares of Laredo Petroleum by 3.3% during the 4th quarter. SailingStone Capital Partners LLC now owns 39,629,061 shares of the oil and gas producer’s stock valued at $420,464,000 after purchasing an additional 1,251,905 shares during the last quarter. BlackRock Inc. lifted its holdings in shares of Laredo Petroleum by 3.3% during the 4th quarter. BlackRock Inc. now owns 6,832,585 shares of the oil and gas producer’s stock valued at $72,492,000 after purchasing an additional 220,428 shares during the last quarter. WS Management Lllp lifted its holdings in shares of Laredo Petroleum by 1.5% during the 4th quarter. WS Management Lllp now owns 6,020,885 shares of the oil and gas producer’s stock valued at $63,882,000 after purchasing an additional 86,185 shares during the last quarter. Vaughan Nelson Investment Management L.P. lifted its holdings in shares of Laredo Petroleum by 7.6% during the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 4,182,575 shares of the oil and gas producer’s stock valued at $44,377,000 after purchasing an additional 296,475 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Laredo Petroleum by 20.3% during the 3rd quarter. Dimensional Fund Advisors LP now owns 3,524,237 shares of the oil and gas producer’s stock valued at $45,569,000 after purchasing an additional 595,303 shares during the last quarter.
Shares of LPI traded up $0.57 during mid-day trading on Wednesday, reaching $10.21. 1,908,730 shares of the company’s stock traded hands, compared to its average volume of 3,288,647. The stock has a market cap of $2,316.21, a price-to-earnings ratio of 17.02, a P/E/G ratio of 1.85 and a beta of 1.22. Laredo Petroleum has a 12 month low of $7.41 and a 12 month high of $14.17. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.85 and a current ratio of 0.85.
Laredo Petroleum (NYSE:LPI) last released its earnings results on Wednesday, February 14th. The oil and gas producer reported $0.19 EPS for the quarter, beating analysts’ consensus estimates of $0.18 by $0.01. Laredo Petroleum had a return on equity of 30.02% and a net margin of 66.77%. The firm had revenue of $240.34 million for the quarter, compared to analysts’ expectations of $212.57 million. During the same quarter in the prior year, the firm posted $0.16 earnings per share. The company’s quarterly revenue was up 30.4% on a year-over-year basis. analysts predict that Laredo Petroleum will post 1.03 earnings per share for the current fiscal year.
Laredo Petroleum announced that its Board of Directors has approved a stock repurchase plan on Wednesday, February 14th that allows the company to buyback $200.00 million in shares. This buyback authorization allows the oil and gas producer to buy shares of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.
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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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