Goldman Sachs Group Inc. Downgrades Laredo Petroleum Holdings to Neutral (LPI)
Laredo Petroleum Holdings (NYSE:LPI) was downgraded by equities research analysts at Goldman Sachs Group Inc. from a “buy” rating to a “neutral” rating in a research note issued to investors on Tuesday, TheFlyOnTheWall.com reports.
Shares of Laredo Petroleum Holdings (NYSE:LPI) traded down 0.71% during mid-day trading on Tuesday, hitting $29.47. 464,475 shares of the company’s stock traded hands. Laredo Petroleum Holdings has a one year low of $15.78 and a one year high of $30.26. The stock has a 50-day moving average of $26.59 and a 200-day moving average of $21.29. The company has a market cap of $3.755 billion and a P/E ratio of 93.63.
Laredo Petroleum Holdings (NYSE:LPI) last posted its quarterly earnings results on Thursday, August 8th. The company reported $0.16 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.16. Analysts expect that Laredo Petroleum Holdings will post $0.62 EPS for the current fiscal year.
In other Laredo Petroleum Holdings news, Insider Jerry Schuyler sold 7,000 shares of the company’s stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $29.81, for a total value of $208,670.00. Following the completion of the transaction, the insider now directly owns 389,223 shares in the company, valued at approximately $11,602,738. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
Several other analysts have also recently commented on the stock. Analysts at Northland Capital Partners initiated coverage on shares of Laredo Petroleum Holdings (NYSE:LPI) in a research note to investors on Thursday, September 26th. They set an “outperform” rating and a $36.00 price target on the stock. Separately, analysts at Northland Securities initiated coverage on shares of Laredo Petroleum Holdings (NYSE:LPI) in a research note to investors on Wednesday, September 25th. They set an “outperform” rating on the stock. Finally, analysts at BMO Capital Markets raised their price target on shares of Laredo Petroleum Holdings (NYSE:LPI) from $27.00 to $34.00 in a research note to investors on Friday, September 20th. They now have an “outperform” rating on the stock. Four analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Laredo Petroleum Holdings presently has a consensus rating of “Buy” and a consensus target price of $33.36.
Laredo Petroleum Holdings, Inc (NYSE:LPI) is an independent energy company focused on the exploration, development and acquisition of oil and natural gas in the Permian and Mid-Continent regions of the United States.
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