Laredo Petroleum Holdings Price Target Raised to $32.00 at SunTrust (LPI)
SunTrust raised their target price on shares of Laredo Petroleum Holdings (NYSE:LPI) from $30.00 to $32.00 in a research note issued on Friday, ARN reports. The firm currently has a “neutral” rating on the stock. SunTrust’s price target suggests a potential upside of 1.81% from the company’s current price.
In other Laredo Petroleum Holdings news, Insider Jerry Schuyler sold 7,000 shares of the 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 sale was disclosed in a filing with the SEC, which can be accessed through this link.
Shares of Laredo Petroleum Holdings (NYSE:LPI) traded up 4.07% during mid-day trading on Friday, hitting $31.43. The stock had a trading volume of 2,196,534 shares. Laredo Petroleum Holdings has a 1-year low of $15.78 and a 1-year high of $30.43. The stock’s 50-day moving average is $27.15 and its 200-day moving average is $21.4. The company has a market cap of $4.005 billion and a price-to-earnings ratio of 95.27.
Laredo Petroleum Holdings (NYSE:LPI) last issued its quarterly earnings data on Thursday, August 8th. The company reported $0.16 earnings per share for the quarter, meeting the analysts’ consensus estimate of $0.16. Analysts expect that Laredo Petroleum Holdings will post $0.62 EPS for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at KLR Group downgraded shares of Laredo Petroleum Holdings (NYSE:LPI) from a “hold” rating to an “accumulate” rating in a research note to investors on Thursday. They now have a $30.00 price target on the stock. Separately, 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. Finally, 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. Five analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $33.23.
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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