FBR & Co reiterated their buy rating on shares of Laredo Petroleum Inc (NYSE:LPI) in a research note issued to investors on Friday. They currently have a $16.00 price objective on the oil and gas producer’s stock.
“We are updating our model for marked-to-market commodity prices and the latest financial and operations data, including 1Q17 results.”,” the firm’s analyst wrote.
Other analysts have also issued reports about the stock. Scotiabank restated a hold rating and issued a $15.00 price objective on shares of Laredo Petroleum in a report on Friday, May 5th. Seaport Global Securities upgraded shares of Laredo Petroleum from a neutral rating to a buy rating in a report on Friday, March 31st. BMO Capital Markets restated a hold rating on shares of Laredo Petroleum in a report on Thursday, May 4th. Stifel Nicolaus began coverage on shares of Laredo Petroleum in a report on Wednesday, April 12th. They issued a buy rating and a $18.00 price objective for the company. Finally, Barclays PLC restated a buy rating and issued a $18.00 price objective (down from $19.00) on shares of Laredo Petroleum in a report on Thursday, April 20th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and twelve have given a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and a consensus price target of $14.90.
Shares of Laredo Petroleum (NYSE:LPI) opened at 12.37 on Friday. Laredo Petroleum has a 12 month low of $9.20 and a 12 month high of $16.47. The company has a 50-day moving average price of $13.31 and a 200-day moving average price of $13.77. The company’s market capitalization is $2.96 billion.
Laredo Petroleum (NYSE:LPI) last issued its quarterly earnings data on Wednesday, May 3rd. The oil and gas producer reported $0.10 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.11 by $0.01. Laredo Petroleum had a positive return on equity of 123.07% and a negative net margin of 225.04%. The company had revenue of $189 million during the quarter, compared to analysts’ expectations of $164.39 million. During the same quarter last year, the business earned $0.08 earnings per share. The business’s quarterly revenue was up 77.3% on a year-over-year basis. On average, equities analysts anticipate that Laredo Petroleum will post $0.56 EPS for the current year.
In other Laredo Petroleum news, Director Peter Kagan sold 163,207 shares of Laredo Petroleum stock in a transaction that occurred on Friday, March 31st. The shares were sold at an average price of $14.34, for a total value of $2,340,388.38. Following the completion of the sale, the director now owns 68,006 shares of the company’s stock, valued at approximately $975,206.04. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Patrick J. Curth sold 43,830 shares of Laredo Petroleum stock in a transaction that occurred on Friday, March 31st. The stock was sold at an average price of $14.41, for a total transaction of $631,590.30. Following the completion of the sale, the vice president now directly owns 232,386 shares of the company’s stock, valued at approximately $3,348,682.26. The disclosure for this sale can be found here. Insiders own 1.50% of the company’s stock.
Large investors have recently bought and sold shares of the company. State Board of Administration of Florida Retirement System increased its stake in Laredo Petroleum by 1.7% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 154,842 shares of the oil and gas producer’s stock worth $2,189,000 after buying an additional 2,543 shares during the period. TLP Group LLC bought a new stake in Laredo Petroleum during the third quarter worth approximately $187,000. Encompass Capital Advisors LLC bought a new stake in Laredo Petroleum during the third quarter worth approximately $1,927,000. TPH Asset Management LLC increased its stake in Laredo Petroleum by 4.5% in the third quarter. TPH Asset Management LLC now owns 1,318,307 shares of the oil and gas producer’s stock worth $17,006,000 after buying an additional 57,000 shares during the period. Finally, Zacks Investment Management increased its stake in Laredo Petroleum by 4.4% in the third quarter. Zacks Investment Management now owns 82,339 shares of the oil and gas producer’s stock worth $1,062,000 after buying an additional 3,486 shares during the period.
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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