Credit Suisse Group upgraded shares of Laredo Petroleum (NYSE:LPI) from an underperform rating to a neutral rating in a report released on Tuesday, Benzinga reports. The firm currently has $2.83 price target on the oil and gas producer’s stock. The analysts noted that the move was a valuation call.
A number of other analysts also recently issued reports on the company. Robert W. Baird lifted their price objective on Carvana from $65.00 to $85.00 and gave the stock an outperform rating in a research note on Thursday, May 9th. Capital One Financial raised Cimarex Energy from an equal weight rating to an overweight rating in a research note on Thursday, May 23rd. Williams Capital raised Laredo Petroleum from a hold rating to a buy rating and boosted their target price for the company from $4.00 to $5.50 in a research report on Thursday, May 16th. Finally, Zacks Investment Research raised HB Fuller from a sell rating to a hold rating in a research report on Wednesday, July 3rd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the stock. The stock currently has a consensus rating of Hold and a consensus target price of $6.51.
NYSE LPI traded up $0.03 on Tuesday, reaching $3.02. 11,125 shares of the company’s stock traded hands, compared to its average volume of 4,902,810. The firm has a market cap of $702.55 million, a PE ratio of 3.19 and a beta of 1.47. Laredo Petroleum has a 12 month low of $2.40 and a 12 month high of $10.02. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.92. The stock has a 50-day moving average price of $2.75.
Laredo Petroleum (NYSE:LPI) last announced its quarterly earnings results on Wednesday, May 1st. The oil and gas producer reported $0.12 EPS for the quarter, topping analysts’ consensus estimates of $0.10 by $0.02. Laredo Petroleum had a return on equity of 17.30% and a net margin of 21.68%. The company had revenue of $208.95 million during the quarter, compared to analyst estimates of $198.64 million. During the same quarter last year, the firm posted $0.24 earnings per share. The firm’s revenue was down 19.5% on a year-over-year basis. On average, equities analysts predict that Laredo Petroleum will post 0.74 EPS for the current fiscal year.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. CoreCommodity Management LLC boosted its holdings in Laredo Petroleum by 3.5% during the 4th quarter. CoreCommodity Management LLC now owns 78,646 shares of the oil and gas producer’s stock valued at $285,000 after acquiring an additional 2,665 shares during the period. Virtu Financial LLC lifted its stake in shares of Laredo Petroleum by 14.5% during the 1st quarter. Virtu Financial LLC now owns 29,013 shares of the oil and gas producer’s stock worth $90,000 after purchasing an additional 3,680 shares during the last quarter. Texas Permanent School Fund lifted its stake in shares of Laredo Petroleum by 3.8% during the 1st quarter. Texas Permanent School Fund now owns 103,240 shares of the oil and gas producer’s stock worth $319,000 after purchasing an additional 3,758 shares during the last quarter. Amalgamated Bank lifted its stake in shares of Laredo Petroleum by 25.4% during the 4th quarter. Amalgamated Bank now owns 23,366 shares of the oil and gas producer’s stock worth $85,000 after purchasing an additional 4,735 shares during the last quarter. Finally, CIBC Asset Management Inc lifted its stake in shares of Laredo Petroleum by 26.5% during the 4th quarter. CIBC Asset Management Inc now owns 23,405 shares of the oil and gas producer’s stock worth $85,000 after purchasing an additional 4,896 shares during the last quarter. Institutional investors own 96.45% of the company’s stock.
Laredo Petroleum Company Profile
Laredo Petroleum, Inc, an independent energy company, engages in the acquisition, exploration, and development of oil and natural gas properties in the Permian Basin of West Texas, the United States. The company also provides midstream and marketing services comprising transportation and marketing of oil and natural gas; and natural gas lift systems, crude oil and natural gas gathering, and water delivery and takeaway services.
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