Laredo Petroleum Inc. (LPI) Shares Up 3.4%
Laredo Petroleum Inc. (NYSE:LPI) shot up 3.4% during trading on Friday . The company traded as high as $12.59 and last traded at $12.54, with a volume of 1,025,385 shares. The stock had previously closed at $12.13.
A number of brokerages have recently commented on LPI. Seaport Global Securities upgraded shares of Laredo Petroleum from a “sell” rating to a “neutral” rating and lifted their price target for the stock from $8.00 to $11.00 in a report on Tuesday. Williams Capital assumed coverage on shares of Laredo Petroleum in a report on Monday. They issued a “hold” rating and a $14.00 target price for the company. Capital One Financial Corp. upgraded shares of Laredo Petroleum from an “equal weight” rating to an “overweight” rating and set a $15.00 target price for the company in a report on Wednesday, August 24th. Zacks Investment Research downgraded shares of Laredo Petroleum from a “buy” rating to a “hold” rating in a report on Thursday, August 11th. Finally, Barclays PLC boosted their target price on shares of Laredo Petroleum from $14.00 to $15.00 and gave the company an “overweight” rating in a report on Friday, August 5th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and six have given a buy rating to the company’s stock. Laredo Petroleum has an average rating of “Hold” and a consensus price target of $11.83.
The company’s market cap is $2.78 billion. The stock’s 50 day moving average is $11.16 and its 200-day moving average is $10.08.
Laredo Petroleum (NYSE:LPI) last released its quarterly earnings data on Wednesday, August 3rd. The company reported ($0.33) EPS for the quarter, missing analysts’ consensus estimates of $0.10 by $0.43. During the same quarter in the prior year, the company earned $0.05 EPS. The company earned $146.77 million during the quarter, compared to analysts’ expectations of $138.30 million. The business’s revenue was down 19.5% compared to the same quarter last year. Equities analysts predict that Laredo Petroleum Inc. will post $0.48 EPS for the current fiscal year.
In related news, VP Patrick J. Curth sold 17,000 shares of the stock in a transaction that occurred on Monday, August 29th. The stock was sold at an average price of $12.57, for a total value of $213,690.00. Following the transaction, the vice president now owns 172,926 shares in the company, valued at $2,173,679.82. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
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.
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