Shares of Laredo Petroleum Inc (NYSE:LPI) have received a consensus rating of “Hold” from the thirteen research firms that are presently covering the company, Marketbeat.com reports. Three investment analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation, five have issued a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $38.45.
Several analysts recently issued reports on LPI shares. MKM Partners upped their target price on Laredo Petroleum from $32.00 to $36.00 in a report on Wednesday, June 3rd. Scotiabank upped their price objective on Laredo Petroleum from $15.00 to $20.00 and gave the company a “sector perform” rating in a research note on Monday, July 13th. Seaport Global Securities assumed coverage on Laredo Petroleum in a research note on Monday, July 27th. They issued a “buy” rating and a $20.00 price objective on the stock. Siebert Williams Shank restated a “hold” rating and issued a $14.00 price objective on shares of Laredo Petroleum in a research note on Tuesday, June 2nd. Finally, Zacks Investment Research upgraded Laredo Petroleum from a “hold” rating to a “strong-buy” rating and set a $21.00 price objective on the stock in a research note on Friday, August 14th.
Several institutional investors have recently bought and sold shares of the company. State Street Corp boosted its stake in Laredo Petroleum by 18.3% during the 1st quarter. State Street Corp now owns 13,850,683 shares of the oil and gas producer’s stock valued at $5,260,000 after purchasing an additional 2,145,652 shares during the last quarter. American International Group Inc. lifted its position in shares of Laredo Petroleum by 606.7% during the 1st quarter. American International Group Inc. now owns 920,559 shares of the oil and gas producer’s stock worth $350,000 after buying an additional 790,298 shares in the last quarter. Invesco Ltd. lifted its position in shares of Laredo Petroleum by 29.3% during the 1st quarter. Invesco Ltd. now owns 2,895,016 shares of the oil and gas producer’s stock worth $1,099,000 after buying an additional 656,733 shares in the last quarter. Two Sigma Investments LP lifted its position in shares of Laredo Petroleum by 291.0% during the 1st quarter. Two Sigma Investments LP now owns 774,884 shares of the oil and gas producer’s stock worth $294,000 after buying an additional 576,689 shares in the last quarter. Finally, Verition Fund Management LLC bought a new position in shares of Laredo Petroleum during the 2nd quarter worth approximately $5,851,000. 71.62% of the stock is currently owned by institutional investors.
Laredo Petroleum (NYSE:LPI) last announced its quarterly earnings data on Wednesday, August 5th. The oil and gas producer reported $2.43 EPS for the quarter, topping analysts’ consensus estimates of $1.52 by $0.91. Laredo Petroleum had a positive return on equity of 17.17% and a negative net margin of 112.30%. The business had revenue of $110.59 million during the quarter, compared to analysts’ expectations of $184.59 million. Equities analysts expect that Laredo Petroleum will post 9.22 EPS for the current fiscal year.
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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