Laredo Petroleum, Inc. (LPI) Stock Price Down 1.4%
Laredo Petroleum, Inc. (NYSE:LPI) shares fell 1.4% during mid-day trading on Tuesday . The company traded as low as $10.11 and last traded at $10.82. 3,224,600 shares changed hands during mid-day trading, a decline of 13% from the average session volume of 3,696,865 shares. The stock had previously closed at $10.97.
A number of brokerages have recently issued reports on LPI. BMO Capital Markets set a $14.00 price objective on Laredo Petroleum and gave the company a “hold” rating in a research note on Tuesday, October 10th. KeyCorp reaffirmed a “hold” rating on shares of Laredo Petroleum in a research note on Friday, November 10th. Bank of America Corporation assumed coverage on Laredo Petroleum in a research note on Wednesday, July 19th. They set an “underperform” rating and a $11.00 price target on the stock. Zacks Investment Research downgraded Laredo Petroleum from a “hold” rating to a “sell” rating in a research note on Thursday, August 10th. Finally, Seaport Global Securities reaffirmed a “neutral” rating and set a $9.50 price target (down from $10.00) on shares of Laredo Petroleum in a research note on Monday, October 9th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eight have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $14.45.
The company has a market cap of $2,454.23, a PE ratio of 20.65, a PEG ratio of 4.06 and a beta of 1.39. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 4.16.
Laredo Petroleum (NYSE:LPI) last posted its earnings results on Wednesday, November 1st. The oil and gas producer reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.14 by ($0.01). The company had revenue of $205.82 million for the quarter, compared to analysts’ expectations of $178.48 million. Laredo Petroleum had a return on equity of 43.77% and a net margin of 15.92%. The company’s revenue was up 28.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.12 EPS. equities analysts expect that Laredo Petroleum, Inc. will post 0.5 earnings per share for the current year.
Several large investors have recently bought and sold shares of the business. Wells Fargo & Company MN raised its position in shares of Laredo Petroleum by 24.4% in the second quarter. Wells Fargo & Company MN now owns 218,884 shares of the oil and gas producer’s stock worth $2,304,000 after buying an additional 42,994 shares in the last quarter. Caxton Associates LP purchased a new stake in shares of Laredo Petroleum in the second quarter worth $6,819,000. Credit Suisse AG raised its position in shares of Laredo Petroleum by 189.6% in the first quarter. Credit Suisse AG now owns 349,708 shares of the oil and gas producer’s stock worth $5,105,000 after buying an additional 228,946 shares in the last quarter. Prudential Financial Inc. raised its position in Laredo Petroleum by 108.5% during the second quarter. Prudential Financial Inc. now owns 1,354,512 shares of the oil and gas producer’s stock valued at $14,249,000 after purchasing an additional 704,874 shares in the last quarter. Finally, Castleton Investment Management LLC purchased a new stake in Laredo Petroleum during the second quarter valued at about $315,000.
About Laredo Petroleum
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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