Shares of Laredo Petroleum Inc (NYSE:LPI) have been given a consensus rating of “Hold” by the twenty analysts that are presently covering the company, Marketbeat reports. Three investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and four have issued a buy rating on the company. The average 12 month target price among brokerages that have covered the stock in the last year is $12.19.

A number of equities research analysts have recently commented on the company. Tudor Pickering cut Laredo Petroleum from a “buy” rating to a “hold” rating in a research note on Thursday, May 10th. Williams Capital set a $11.00 price objective on Laredo Petroleum and gave the stock a “hold” rating in a report on Thursday, May 3rd. Robert W. Baird lowered Laredo Petroleum from an “outperform” rating to a “neutral” rating in a report on Thursday, May 3rd. ValuEngine lowered Laredo Petroleum from a “sell” rating to a “strong sell” rating in a report on Wednesday, May 2nd. Finally, Stephens reissued a “hold” rating and issued a $10.00 price objective on shares of Laredo Petroleum in a report on Thursday, March 15th.

Laredo Petroleum opened at $9.89 on Friday, according to Marketbeat. The firm has a market cap of $2.34 billion, a PE ratio of 15.09, a price-to-earnings-growth ratio of 1.87 and a beta of 1.20. Laredo Petroleum has a one year low of $9.66 and a one year high of $9.96. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.90.

Laredo Petroleum (NYSE:LPI) last released its earnings results on Wednesday, May 2nd. The oil and gas producer reported $0.24 EPS for the quarter, missing the Zacks’ consensus estimate of $0.26 by ($0.02). The business had revenue of $259.70 million for the quarter, compared to the consensus estimate of $211.73 million. Laredo Petroleum had a return on equity of 27.02% and a net margin of 63.53%. The company’s revenue for the quarter was up 37.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.10 earnings per share. sell-side analysts forecast that Laredo Petroleum will post 1.07 EPS for the current fiscal year.

Laredo Petroleum declared that its board has authorized a share buyback plan on Wednesday, February 14th that authorizes the company to buyback $200.00 million in shares. This buyback authorization authorizes the oil and gas producer to buy shares of its stock through open market purchases. Shares buyback plans are often a sign that the company’s leadership believes its shares are undervalued.

Hedge funds have recently bought and sold shares of the business. HRT Financial LLC purchased a new position in Laredo Petroleum during the 4th quarter valued at about $117,000. State of Alaska Department of Revenue purchased a new position in Laredo Petroleum during the 4th quarter valued at about $123,000. Elkfork Partners LLC purchased a new position in Laredo Petroleum during the 4th quarter valued at about $131,000. Virtu Financial LLC purchased a new position in Laredo Petroleum during the 4th quarter valued at about $154,000. Finally, Sciencast Management LP purchased a new position in Laredo Petroleum during the 4th quarter valued at about $165,000.

Laredo Petroleum Company Profile

Laredo Petroleum, Inc operates as an independent energy company in the United States. It operates through two segments, Exploration and Production; and Midstream and Marketing. The company engages in the acquisition, exploration, and development of oil and natural gas properties; and the transportation of oil and natural gas primarily in the Permian Basin in West Texas, as well as rig fuel, natural gas lift, and water delivery and takeaway services.

Analyst Recommendations for Laredo Petroleum (NYSE:LPI)

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