Laredo Petroleum (LPI) Stock Price Up 5.1%
Laredo Petroleum, Inc. (NYSE:LPI)’s share price rose 5.1% during mid-day trading on Thursday . The stock traded as high as $10.85 and last traded at $10.69. Approximately 4,109,905 shares were traded during trading, an increase of 13% from the average daily volume of 3,638,082 shares. The stock had previously closed at $10.17.
LPI has been the subject of several analyst reports. Zacks Investment Research downgraded shares of Laredo Petroleum from a “buy” rating to a “hold” rating in a research note on Friday, October 20th. BMO Capital Markets decreased their price objective on shares of Laredo Petroleum from $14.00 to $11.00 and set a “market perform” rating for the company in a research report on Thursday, November 2nd. Williams Capital increased their price objective on shares of Laredo Petroleum from $13.00 to $14.00 and gave the stock a “hold” rating in a research report on Wednesday, October 18th. KeyCorp reiterated a “hold” rating on shares of Laredo Petroleum in a research report on Friday, September 1st. Finally, Piper Jaffray Companies decreased their price objective on shares of Laredo Petroleum from $17.00 to $15.00 and set an “overweight” rating for the company in a research report on Monday, September 18th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and eight have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $14.27.
The company has a debt-to-equity ratio of 4.16, a current ratio of 0.64 and a quick ratio of 0.64. The stock has a market capitalization of $2,590.00, a price-to-earnings ratio of 21.82, a P/E/G ratio of 4.28 and a beta of 1.39.
Laredo Petroleum (NYSE:LPI) last posted its quarterly earnings results on Wednesday, November 1st. The oil and gas producer reported $0.13 EPS for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.01). The company had revenue of $205.82 million during the quarter, compared to analyst estimates 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 for the quarter was up 28.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.12 earnings per share. analysts predict that Laredo Petroleum, Inc. will post 0.5 earnings per share for the current fiscal year.
Large investors have recently bought and sold shares of the business. Koch Industries Inc. acquired a new stake in Laredo Petroleum in the second quarter worth $129,000. QCM Cayman Ltd. acquired a new stake in Laredo Petroleum in the second quarter worth $133,000. Teacher Retirement System of Texas lifted its stake in shares of Laredo Petroleum by 3.8% in the second quarter. Teacher Retirement System of Texas now owns 12,884 shares of the oil and gas producer’s stock valued at $136,000 after buying an additional 468 shares in the last quarter. Fox Run Management L.L.C. bought a new position in shares of Laredo Petroleum in the third quarter valued at $167,000. Finally, BNP Paribas Arbitrage SA lifted its stake in shares of Laredo Petroleum by 4.8% in the second quarter. BNP Paribas Arbitrage SA now owns 16,735 shares of the oil and gas producer’s stock valued at $176,000 after buying an additional 766 shares in the last quarter.
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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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