Zacks Investment Research downgraded shares of Laredo Petroleum, Inc. (NYSE:LPI) from a buy rating to a hold rating in a research report released on Tuesday.
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. “
Several other analysts have also commented on LPI. BidaskClub raised Laredo Petroleum from a strong sell rating to a sell rating in a report on Wednesday, July 5th. Stifel Nicolaus reaffirmed a buy rating and issued a $17.00 price target on shares of Laredo Petroleum in a research note on Friday, July 14th. Bank of America Corporation started coverage on Laredo Petroleum in a research note on Wednesday, July 19th. They issued an underperform rating and a $11.00 price target on the stock. Cowen and Company set a $12.00 price target on Laredo Petroleum and gave the stock a hold rating in a research note on Tuesday, July 18th. Finally, Williams Capital set a $14.00 price target on Laredo Petroleum and gave the stock a hold rating in a research note on Tuesday, August 8th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eight have assigned a buy rating to the company’s stock. The company currently has an average rating of Hold and an average price target of $14.45.
Shares of Laredo Petroleum (NYSE LPI) opened at $10.40 on Tuesday. The stock has a market capitalization of $2.59 billion, a PE ratio of 21.82, a price-to-earnings-growth ratio of 4.26 and a beta of 1.39. The company has a debt-to-equity ratio of 4.29, a quick ratio of 0.97 and a current ratio of 0.97.
Laredo Petroleum (NYSE:LPI) last issued its quarterly earnings data on Wednesday, November 1st. The oil and gas producer reported $0.13 EPS for the quarter, missing the consensus estimate of $0.14 by ($0.01). Laredo Petroleum had a net margin of 15.92% and a return on equity of 47.82%. The business had revenue of $205.82 million during the quarter, compared to analyst estimates of $178.48 million. During the same period in the previous year, the business posted $0.12 earnings per share. The firm’s revenue for the quarter was up 28.9% on a year-over-year basis. equities analysts anticipate that Laredo Petroleum will post 0.5 earnings per share for the current fiscal year.
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Hedge funds have recently bought and sold shares of the stock. Evanson Asset Management LLC purchased a new stake in shares of Laredo Petroleum in the 2nd quarter valued at $108,000. Koch Industries Inc. acquired a new position in Laredo Petroleum during the 2nd quarter worth $129,000. QCM Cayman Ltd. acquired a new position in Laredo Petroleum during the 2nd quarter worth $133,000. Teacher Retirement System of Texas grew its stake in Laredo Petroleum by 3.8% during the 2nd quarter. Teacher Retirement System of Texas now owns 12,884 shares of the oil and gas producer’s stock worth $136,000 after purchasing an additional 468 shares in the last quarter. Finally, Fox Run Management L.L.C. acquired a new position in Laredo Petroleum during the 3rd quarter worth $167,000.
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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