Analysts Set Laredo Petroleum Inc (LPI) Target Price at $12.19

Shares of Laredo Petroleum Inc (NYSE:LPI) have earned an average recommendation of “Hold” from the twenty research firms that are currently covering the company, MarketBeat reports. Three equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and four have assigned a buy rating to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $12.19.

A number of research analysts have recently commented on the stock. Robert W. Baird cut shares of Laredo Petroleum from an “outperform” rating to a “neutral” rating in a report on Thursday, May 3rd. Bank of America dropped their target price on shares of Laredo Petroleum from $13.00 to $11.00 and set an “underperform” rating for the company in a report on Thursday, March 8th. ValuEngine cut shares of Laredo Petroleum from a “hold” rating to a “sell” rating in a report on Monday, April 2nd. Williams Capital set a $11.00 price objective on shares of Laredo Petroleum and gave the company a “hold” rating in a report on Thursday, May 3rd. Finally, Tudor Pickering lowered shares of Laredo Petroleum from a “buy” rating to a “hold” rating in a report on Thursday, May 10th.

Laredo Petroleum opened at $9.52 on Monday, MarketBeat reports. The stock has a market capitalization of $2.24 billion, a PE ratio of 15.87, a P/E/G ratio of 1.79 and a beta of 1.16. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.77 and a quick ratio of 0.77. Laredo Petroleum has a 12 month low of $7.41 and a 12 month high of $13.46.

Laredo Petroleum (NYSE:LPI) last posted its earnings results on Wednesday, May 2nd. The oil and gas producer reported $0.24 EPS for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.02). The company had revenue of $259.70 million during 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 firm’s revenue was up 37.4% compared to the same quarter last year. During the same period last year, the company posted $0.10 EPS. analysts anticipate that Laredo Petroleum will post 1.06 EPS for the current year.

A number of hedge funds and other institutional investors have recently modified their holdings of LPI. Schwab Charles Investment Management Inc. increased its position in Laredo Petroleum by 5.7% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 441,083 shares of the oil and gas producer’s stock valued at $4,680,000 after purchasing an additional 23,834 shares during the period. Teacher Retirement System of Texas increased its position in Laredo Petroleum by 299.3% during the 4th quarter. Teacher Retirement System of Texas now owns 52,239 shares of the oil and gas producer’s stock valued at $554,000 after purchasing an additional 39,155 shares during the period. California Public Employees Retirement System increased its position in Laredo Petroleum by 2.4% during the 4th quarter. California Public Employees Retirement System now owns 638,688 shares of the oil and gas producer’s stock valued at $6,776,000 after purchasing an additional 14,678 shares during the period. First Trust Advisors LP acquired a new stake in Laredo Petroleum during the 4th quarter valued at approximately $3,818,000. Finally, Wells Fargo & Company MN increased its position in Laredo Petroleum by 2.6% during the 4th quarter. Wells Fargo & Company MN now owns 304,856 shares of the oil and gas producer’s stock valued at $3,234,000 after purchasing an additional 7,683 shares during the period.

About Laredo Petroleum

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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