Laredo Petroleum Inc. (LPI) Trading Up 2.5%
Laredo Petroleum Inc. (NYSE:LPI) shares were up 2.5% on Wednesday . The stock traded as high as $13.04 and last traded at $12.88, with a volume of 1,370,939 shares trading hands. The stock had previously closed at $12.57.
Several research analysts recently weighed in on LPI shares. Topeka Capital Markets upped their price target on Laredo Petroleum from $14.00 to $15.00 and gave the company a “buy” rating in a research report on Wednesday, May 11th. Zacks Investment Research raised Laredo Petroleum from a “hold” rating to a “buy” rating and set a $12.00 price target on the stock in a research report on Friday, June 17th. Deutsche Bank AG reissued a “hold” rating and set a $9.00 price target on shares of Laredo Petroleum in a research report on Thursday, June 16th. BMO Capital Markets reissued a “hold” rating and set a $12.00 price target on shares of Laredo Petroleum in a research report on Wednesday, June 15th. Finally, Imperial Capital started coverage on Laredo Petroleum in a research report on Thursday, May 26th. They set an “in-line” rating and a $12.50 price target on the stock. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating and six have given a buy rating to the stock. Laredo Petroleum currently has a consensus rating of “Hold” and an average target price of $11.24.
The firm’s market capitalization is $2.81 billion. The firm’s 50 day moving average is $10.83 and its 200 day moving average is $9.80.
Laredo Petroleum (NYSE:LPI) last released its quarterly earnings results on Wednesday, August 3rd. The company reported ($0.33) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.10 by $0.43. The business earned $146.77 million during the quarter, compared to analysts’ expectations of $138.30 million. During the same quarter last year, the company earned $0.05 earnings per share. Laredo Petroleum’s revenue for the quarter was down 19.5% on a year-over-year basis. Analysts forecast that Laredo Petroleum Inc. will post $0.48 earnings per share for the current year.
Laredo Petroleum, Inc (Laredo) is an independent energy company 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. The Company’s segments include Exploration and production, and Midstream and marketing.