Laredo Petroleum Inc. (LPI) Trading 2.5% Higher
Laredo Petroleum Inc. (NYSE:LPI) shares traded up 2.5% during mid-day trading on Tuesday . The company traded as high as $12.05 and last traded at $11.82, with a volume of 2,656,823 shares trading hands. The stock had previously closed at $11.53.
Several research analysts recently commented on LPI shares. Imperial Capital started coverage on Laredo Petroleum in a research note on Thursday, May 26th. They issued an “in-line” rating and a $12.50 price objective for the company. Alembic Global Advisors raised Laredo Petroleum from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $7.00 to $16.00 in a research note on Monday, May 9th. Deutsche Bank AG reissued a “hold” rating and issued a $9.00 price objective on shares of Laredo Petroleum in a research note on Thursday, June 16th. BMO Capital Markets reissued a “hold” rating and issued a $12.00 price objective on shares of Laredo Petroleum in a research note on Wednesday, June 15th. Finally, Topeka Capital Markets increased their price objective on Laredo Petroleum from $14.00 to $15.00 and gave the company a “buy” rating in a research note on Wednesday, May 11th. Three equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and five have assigned a buy rating to the company’s stock. Laredo Petroleum presently has an average rating of “Hold” and a consensus target price of $11.24.
The company’s 50-day moving average price is $10.50 and its 200 day moving average price is $9.57. The stock’s market capitalization is $2.64 billion.
Laredo Petroleum (NYSE:LPI) last issued its quarterly earnings data 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. During the same quarter in the prior year, the company earned $0.05 EPS. The firm earned $146.77 million during the quarter, compared to analyst estimates of $138.30 million. The firm’s quarterly revenue was down 19.5% on a year-over-year basis. On average, equities analysts anticipate that Laredo Petroleum Inc. will post $0.46 earnings per share for the current fiscal year.
An institutional investor recently raised its position in Laredo Petroleum stock. Schroder Investment Management Group raised its stake in shares of Laredo Petroleum Inc. (NYSE:LPI) by 78.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 753,055 shares of the company’s stock after buying an additional 330,052 shares during the period. Schroder Investment Management Group owned approximately 0.36% of Laredo Petroleum worth $6,017,000 as of its most recent SEC filing.
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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