Laredo Petroleum, Inc. (NYSE:LPI) Receives $15.05 Consensus PT from Brokerages
Shares of Laredo Petroleum, Inc. (NYSE:LPI) have received a consensus recommendation of “Hold” from the twenty-three analysts that are currently covering the firm, MarketBeat reports. Three research analysts have rated the stock with a sell recommendation, nine have given a hold recommendation and ten have given a buy recommendation to the company. The average 1 year target price among brokers that have covered the stock in the last year is $14.55.
A number of research analysts recently issued reports on LPI shares. Barclays PLC reiterated a “buy” rating and set a $18.00 price objective (down from $19.00) on shares of Laredo Petroleum in a report on Thursday, April 20th. Stifel Nicolaus assumed coverage on Laredo Petroleum in a report on Wednesday, April 12th. They set a “buy” rating and a $18.00 price objective for the company. Seaport Global Securities raised Laredo Petroleum from a “neutral” rating to a “buy” rating in a research report on Friday, March 31st. FBR & Co reissued a “buy” rating and set a $16.00 price target on shares of Laredo Petroleum in a research report on Friday, May 12th. Finally, TheStreet raised Laredo Petroleum from a “d-” rating to a “c-” rating in a research report on Wednesday, May 3rd.
Several hedge funds have recently added to or reduced their stakes in the stock. Jennison Associates LLC increased its position in shares of Laredo Petroleum by 67.4% in the first quarter. Jennison Associates LLC now owns 3,023,757 shares of the oil and gas producer’s stock valued at $44,147,000 after buying an additional 1,217,421 shares in the last quarter. Icon Advisers Inc. Co. acquired a new position in shares of Laredo Petroleum during the first quarter valued at approximately $7,986,000. Affinity Investment Advisors LLC acquired a new position in shares of Laredo Petroleum during the first quarter valued at approximately $2,920,000. Channing Capital Management LLC increased its position in shares of Laredo Petroleum by 1.3% in the first quarter. Channing Capital Management LLC now owns 2,243,314 shares of the oil and gas producer’s stock valued at $32,752,000 after buying an additional 27,792 shares in the last quarter. Finally, James Investment Research Inc. acquired a new position in shares of Laredo Petroleum during the first quarter valued at approximately $149,000.
Shares of Laredo Petroleum (NYSE LPI) traded up 1.05% during midday trading on Monday, hitting $12.50. The stock had a trading volume of 5,791,588 shares. Laredo Petroleum has a one year low of $9.20 and a one year high of $16.47. The firm’s 50-day moving average is $10.97 and its 200 day moving average is $12.90. The company’s market capitalization is $2.99 billion.
Laredo Petroleum (NYSE:LPI) last posted its quarterly earnings data on Wednesday, May 3rd. The oil and gas producer reported $0.10 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.11 by $0.01. The firm had revenue of $189 million for the quarter, compared to the consensus estimate of $164.39 million. Laredo Petroleum had a positive return on equity of 75.64% and a negative net margin of 1.78%. The firm’s quarterly revenue was up 77.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.08 earnings per share. Equities analysts expect that Laredo Petroleum will post $0.52 earnings per share for the current fiscal year.
Laredo Petroleum Company Profile
Laredo Petroleum, Inc (Laredo) is an independent energy company. The Company is 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. It operates through two segments: Exploration and production of oil and natural gas properties, and Midstream and marketing.
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