Williams Capital set a $6.00 price objective on Laredo Petroleum (NYSE:LPI) in a research report report published on Wednesday. The brokerage currently has a hold rating on the oil and gas producer’s stock.
A number of other equities research analysts also recently weighed in on LPI. Zacks Investment Research raised Laredo Petroleum from a hold rating to a buy rating and set a $6.00 target price on the stock in a research report on Friday, October 26th. MKM Partners initiated coverage on Laredo Petroleum in a research report on Wednesday, December 5th. They set a buy rating and a $9.00 target price on the stock. Four investment analysts have rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the company’s stock. Laredo Petroleum presently has a consensus rating of Hold and a consensus price target of $11.00.
LPI stock traded down $0.06 during trading on Wednesday, reaching $4.19. 28,390 shares of the stock were exchanged, compared to its average volume of 4,835,902. Laredo Petroleum has a twelve month low of $4.11 and a twelve month high of $11.68. The company has a market cap of $982.30 million, a PE ratio of 6.95, a price-to-earnings-growth ratio of 0.83 and a beta of 1.62. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.95.
Laredo Petroleum (NYSE:LPI) last released its earnings results on Monday, November 5th. The oil and gas producer reported $0.27 earnings per share for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.03). Laredo Petroleum had a return on equity of 24.30% and a net margin of 51.61%. The firm had revenue of $279.70 million for the quarter, compared to analyst estimates of $276.95 million. During the same period last year, the business earned $0.13 earnings per share. The firm’s quarterly revenue was up 35.9% compared to the same quarter last year. On average, equities research analysts anticipate that Laredo Petroleum will post 1.02 EPS for the current year.
In other Laredo Petroleum news, Director Peter Kagan sold 12,300,000 shares of the firm’s stock in a transaction dated Thursday, September 27th. The shares were sold at an average price of $8.08, for a total transaction of $99,384,000.00. Following the completion of the transaction, the director now owns 115,107 shares in the company, valued at $930,064.56. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 2.20% of the stock is owned by company insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. BlackRock Inc. raised its stake in shares of Laredo Petroleum by 118.3% in the third quarter. BlackRock Inc. now owns 22,944,636 shares of the oil and gas producer’s stock valued at $187,459,000 after acquiring an additional 12,434,795 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Laredo Petroleum by 21.6% in the third quarter. Dimensional Fund Advisors LP now owns 8,794,844 shares of the oil and gas producer’s stock valued at $71,855,000 after acquiring an additional 1,559,873 shares during the last quarter. AQR Capital Management LLC raised its stake in shares of Laredo Petroleum by 33.2% in the third quarter. AQR Capital Management LLC now owns 7,588,133 shares of the oil and gas producer’s stock valued at $61,995,000 after acquiring an additional 1,890,401 shares during the last quarter. Laurion Capital Management LP bought a new position in shares of Laredo Petroleum in the third quarter valued at approximately $29,316,000. Finally, Van ECK Associates Corp raised its stake in shares of Laredo Petroleum by 1.2% in the second quarter. Van ECK Associates Corp now owns 3,550,734 shares of the oil and gas producer’s stock valued at $34,158,000 after acquiring an additional 41,078 shares during the last quarter.
Laredo Petroleum Company Profile
Laredo Petroleum, Inc operates as an independent energy company in the United States. It operates through two segments, Exploration and Production; and Midstream and Marketing. The company engages in the acquisition, exploration, and development of oil and natural gas properties; and the transportation of oil and natural gas primarily in the Permian Basin in West Texas, as well as rig fuel, natural gas lift, and water delivery and takeaway services.
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