KLR Group Downgrades Laredo Petroleum Holdings to Accumulate (LPI)
Laredo Petroleum Holdings (NYSE:LPI) was downgraded by KLR Group from a “hold” rating to an “accumulate” rating in a research note issued on Thursday, American Banking & Market News reports. They currently have a $30.00 price target on the stock. KLR Group’s price target suggests a potential downside of 1.35% from the stock’s previous close.
Laredo Petroleum Holdings (NYSE:LPI) traded down 2.04% on Thursday, hitting $29.79. 291,141 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 $30.42. The stock has a 50-day moving average of $26.94 and a 200-day moving average of $21.42. The company has a market cap of $3.796 billion and a P/E ratio of 95.93.
Laredo Petroleum Holdings (NYSE:LPI) last posted its quarterly earnings results on Thursday, August 8th. The company reported $0.16 EPS for the quarter, meeting the Thomson Reuters consensus estimate of $0.16. On average, analysts predict that Laredo Petroleum Holdings will post $0.62 earnings per share for the current fiscal year.
In other Laredo Petroleum Holdings news, Insider Jerry Schuyler sold 7,000 shares of Laredo Petroleum Holdings stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $29.81, for a total value of $208,670.00. Following the completion of the sale, the insider now directly owns 389,223 shares of the company’s stock, valued at approximately $11,602,738. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.
LPI has been the subject of a number of other recent research reports. Analysts at Goldman Sachs Group Inc. downgraded shares of Laredo Petroleum Holdings (NYSE:LPI) from a “buy” rating to a “neutral” rating in a research note to investors on Tuesday. They now have a $33.00 price target on the stock, up previously from $30.00. Separately, 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. Finally, 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. Five investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $33.08.
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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