According to Zacks, “Laredo Petroleum Holdings, Inc. is engaged in the exploration, development and acquisition of oil and natural gas properties in the Permian and Mid-Continent regions of the United States. Laredo Petroleum Holdings, Inc. is headquartered in Tulsa, Oklahoma. “
A number of other research firms also recently weighed in on LPI. Williams Capital raised Laredo Petroleum from a “hold” rating to a “buy” rating and increased their target price for the company from $4.00 to $5.50 in a report on Thursday, May 16th. Credit Suisse Group raised Laredo Petroleum from an “underperform” rating to a “neutral” rating and set a $2.83 target price on the stock in a report on Tuesday, July 9th. They noted that the move was a valuation call. Capital One Financial raised Cimarex Energy from an “equal weight” rating to an “overweight” rating in a report on Thursday, May 23rd. Finally, Robert W. Baird increased their target price on Carvana from $65.00 to $85.00 and gave the company an “outperform” rating in a report on Thursday, May 9th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the stock. Laredo Petroleum currently has a consensus rating of “Hold” and a consensus price target of $6.51.
LPI stock traded down $0.07 during midday trading on Wednesday, hitting $2.75. The stock had a trading volume of 1,518,934 shares, compared to its average volume of 4,885,083. The stock has a market cap of $697.84 million, a price-to-earnings ratio of 2.96 and a beta of 1.47. The stock’s 50-day moving average price is $2.80. Laredo Petroleum has a 52-week low of $2.40 and a 52-week high of $9.81. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.92.
Laredo Petroleum (NYSE:LPI) last released its earnings results on Wednesday, May 1st. The oil and gas producer reported $0.12 EPS for the quarter, topping analysts’ consensus estimates of $0.10 by $0.02. The firm had revenue of $208.95 million for the quarter, compared to analysts’ expectations of $198.64 million. Laredo Petroleum had a return on equity of 17.30% and a net margin of 21.68%. The company’s quarterly revenue was down 19.5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.24 earnings per share. Equities research analysts expect that Laredo Petroleum will post 0.73 EPS for the current year.
A number of hedge funds have recently bought and sold shares of LPI. Arizona State Retirement System raised its position in Laredo Petroleum by 1.7% during the 2nd quarter. Arizona State Retirement System now owns 238,516 shares of the oil and gas producer’s stock valued at $692,000 after purchasing an additional 3,957 shares in the last quarter. Birch Hill Investment Advisors LLC bought a new stake in Laredo Petroleum during the 2nd quarter valued at $56,000. WINTON GROUP Ltd bought a new stake in Laredo Petroleum during the 2nd quarter valued at $104,000. Denali Advisors LLC raised its position in Laredo Petroleum by 908.9% during the 2nd quarter. Denali Advisors LLC now owns 310,794 shares of the oil and gas producer’s stock valued at $901,000 after purchasing an additional 279,989 shares in the last quarter. Finally, First Trust Advisors LP raised its position in Laredo Petroleum by 79.2% during the 1st quarter. First Trust Advisors LP now owns 589,417 shares of the oil and gas producer’s stock valued at $1,821,000 after purchasing an additional 260,525 shares in the last quarter. 96.56% of the stock is currently owned by institutional investors.
Laredo Petroleum Company Profile
Laredo Petroleum, Inc, an independent energy company, engages in the acquisition, exploration, and development of oil and natural gas properties in the Permian Basin of West Texas, the United States. The company also provides midstream and marketing services comprising transportation and marketing of oil and natural gas; and natural gas lift systems, crude oil and natural gas gathering, and water delivery and takeaway services.
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