Laredo Petroleum, Inc. (NYSE:LPI) Upgraded at BidaskClub

BidaskClub upgraded shares of Laredo Petroleum, Inc. (NYSE:LPI) from a strong sell rating to a sell rating in a report published on Wednesday.

LPI has been the subject of several other research reports. Credit Suisse Group reissued an underperform rating and issued a $15.00 price target on shares of Laredo Petroleum in a research note on Friday, June 2nd. Scotiabank set a $15.00 price target on Laredo Petroleum and gave the stock a hold rating in a research note on Monday, March 27th. BMO Capital Markets reissued a hold rating and issued a $10.00 price target on shares of Laredo Petroleum in a research note on Tuesday, June 27th. Stifel Nicolaus initiated coverage on Laredo Petroleum in a research note on Wednesday, April 12th. They issued a buy rating and a $18.00 price target for the company. Finally, Williams Capital set a $16.00 price target on Laredo Petroleum and gave the stock a hold rating in a research note on Thursday, May 4th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and ten have given a buy rating to the stock. Laredo Petroleum presently has an average rating of Hold and a consensus price target of $15.20.

Shares of Laredo Petroleum (NYSE LPI) traded up 2.738% during trading on Wednesday, reaching $10.695. 1,217,764 shares of the company’s stock traded hands. The stock’s market capitalization is $2.56 billion. Laredo Petroleum has a 1-year low of $9.20 and a 1-year high of $16.47. The company has a 50 day moving average price of $11.56 and a 200 day moving average price of $13.23.

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 Zacks’ consensus estimate of $0.11 by $0.01. The company had revenue of $189 million for the quarter, compared to the consensus estimate of $164.39 million. Laredo Petroleum had a positive return on equity of 75.64% and a negative net margin of 1.78%. Laredo Petroleum’s quarterly revenue was up 77.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.08 earnings per share. On average, equities analysts forecast that Laredo Petroleum will post $0.56 EPS for the current fiscal year.

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Large investors have recently made changes to their positions in the stock. Cpcm LLC increased its stake in shares of Laredo Petroleum by 2.9% in the first quarter. Cpcm LLC now owns 196,291 shares of the oil and gas producer’s stock valued at $2,866,000 after buying an additional 5,500 shares in the last quarter. Public Employees Retirement System of Ohio increased its stake in shares of Laredo Petroleum by 2.0% in the first quarter. Public Employees Retirement System of Ohio now owns 69,338 shares of the oil and gas producer’s stock valued at $1,012,000 after buying an additional 1,327 shares in the last quarter. Point72 Asset Management L.P. increased its stake in shares of Laredo Petroleum by 150.2% in the first quarter. Point72 Asset Management L.P. now owns 3,748,400 shares of the oil and gas producer’s stock valued at $54,727,000 after buying an additional 2,250,300 shares in the last quarter. TPH Asset Management LLC increased its stake in shares of Laredo Petroleum by 25.1% in the first quarter. TPH Asset Management LLC now owns 1,631,543 shares of the oil and gas producer’s stock valued at $23,821,000 after buying an additional 327,036 shares in the last quarter. Finally, Credit Suisse AG increased its stake in shares of Laredo Petroleum by 189.6% in the first quarter. Credit Suisse AG now owns 349,708 shares of the oil and gas producer’s stock valued at $5,105,000 after buying an additional 228,946 shares in the last quarter.

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.

Analyst Recommendations for Laredo Petroleum (NYSE:LPI)

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