Laredo Petroleum Inc (NYSE:LPI)‘s stock had its “buy” rating reissued by equities research analysts at Barclays PLC in a research report issued on Thursday. They currently have a $18.00 price objective on the oil and gas producer’s stock. Barclays PLC’s price target would suggest a potential upside of 39.21% from the stock’s previous close.
Several other research analysts also recently commented on LPI. Seaport Global Securities upgraded Laredo Petroleum from a “neutral” rating to a “buy” rating in a report on Friday, March 31st. Credit Suisse Group AG reiterated a “sell” rating and issued a $13.00 price objective on shares of Laredo Petroleum in a report on Friday, March 31st. Scotiabank set a $15.00 price objective on Laredo Petroleum and gave the stock a “hold” rating in a report on Monday, March 27th. Stifel Nicolaus assumed coverage on Laredo Petroleum in a report on Wednesday, April 12th. They issued a “buy” rating and a $18.00 price objective on the stock. Finally, Zacks Investment Research upgraded Laredo Petroleum from a “hold” rating to a “buy” rating and set a $16.00 price objective on the stock in a report on Thursday, January 26th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and fourteen have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $14.71.
Laredo Petroleum (NYSE:LPI) traded down 2.85% during trading on Thursday, hitting $12.93. The stock had a trading volume of 4,747,805 shares. The stock’s market capitalization is $3.08 billion. The company has a 50-day moving average of $13.80 and a 200-day moving average of $13.85. Laredo Petroleum has a 52 week low of $9.20 and a 52 week high of $16.47.
Laredo Petroleum (NYSE:LPI) last released its quarterly earnings results on Wednesday, February 15th. The oil and gas producer reported $0.16 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.16. Laredo Petroleum had a positive return on equity of 123.07% and a negative net margin of 225.04%. The business had revenue of $184.31 million for the quarter, compared to the consensus estimate of $159.83 million. On average, equities analysts expect that Laredo Petroleum will post $0.57 earnings per share for the current fiscal year.
In other Laredo Petroleum news, 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 sale, the vice president now directly owns 232,386 shares of the company’s stock, valued at approximately $3,348,682.26. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, 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 sale, the director now directly owns 68,006 shares in the company, valued at $975,206.04. The disclosure for this sale can be found here. Insiders own 1.50% of the company’s stock.
A number of hedge funds have recently bought and sold shares of LPI. Utah Retirement Systems boosted its stake in Laredo Petroleum by 7.4% in the third quarter. Utah Retirement Systems now owns 26,166 shares of the oil and gas producer’s stock valued at $338,000 after buying an additional 1,800 shares during the last quarter. Swiss National Bank boosted its stake in Laredo Petroleum by 12.7% in the third quarter. Swiss National Bank now owns 258,000 shares of the oil and gas producer’s stock valued at $3,328,000 after buying an additional 29,000 shares during the last quarter. Sei Investments Co. boosted its stake in Laredo Petroleum by 474.0% in the third quarter. Sei Investments Co. now owns 277,632 shares of the oil and gas producer’s stock valued at $3,581,000 after buying an additional 229,265 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in Laredo Petroleum by 2.0% in the third quarter. Bank of New York Mellon Corp now owns 790,222 shares of the oil and gas producer’s stock valued at $10,194,000 after buying an additional 15,790 shares during the last quarter. Finally, Neuberger Berman Group LLC purchased a new stake in Laredo Petroleum during the third quarter valued at $600,000.
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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