Laredo Petroleum Inc. (LPI) Trading 3.4% Higher
Laredo Petroleum Inc. (NYSE:LPI)’s share price traded up 3.4% on Friday . The company traded as high as $12.59 and last traded at $12.54, with a volume of 1,025,385 shares changing hands. The stock had previously closed at $12.13.
A number of equities analysts recently weighed in on the stock. BMO Capital Markets reiterated a “hold” rating and issued a $12.00 price objective on shares of Laredo Petroleum in a research report on Wednesday, June 15th. Imperial Capital began coverage on Laredo Petroleum in a report on Thursday, May 26th. They issued an “in-line” rating and a $12.50 target price for the company. Zacks Investment Research raised Laredo Petroleum from a “hold” rating to a “buy” rating and set a $12.00 target price for the company in a report on Friday, June 17th. Deutsche Bank AG reissued a “hold” rating and issued a $9.00 target price on shares of Laredo Petroleum in a report on Thursday, June 16th. Finally, Topeka Capital Markets raised their target price on Laredo Petroleum from $14.00 to $15.00 and gave the company a “buy” rating in a report on Wednesday, May 11th. Two 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. The stock currently has a consensus rating of “Hold” and a consensus target price of $11.83.
The company’s 50 day moving average is $11.21 and its 200-day moving average is $10.10. The firm’s market capitalization is $2.78 billion.
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 firm earned $146.77 million during the quarter, compared to the consensus estimate of $138.30 million. During the same period last year, the firm posted $0.05 earnings per share. The business’s quarterly revenue was down 19.5% on a year-over-year basis. On average, equities analysts forecast that Laredo Petroleum Inc. will post $0.48 earnings per share for the current fiscal year.
In other news, VP Patrick J. Curth sold 17,000 shares of the stock in a transaction 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 completion of the transaction, the vice president now owns 172,926 shares of the company’s stock, valued at $2,173,679.82. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.
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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