Canaccord Genuity Increases Laredo Petroleum Holdings Price Target to $40.00 (LPI)
Research analysts at Canaccord Genuity boosted their price target on shares of Laredo Petroleum Holdings (NYSE:LPI) from $37.00 to $40.00 in a report released on Monday, AR Network reports. The firm currently has a “buy” rating on the stock. Canaccord Genuity’s price objective points to a potential upside of 20.77% from the stock’s previous close.
LPI has been the subject of a number of other recent research reports. Analysts at SunTrust raised their price target on shares of Laredo Petroleum Holdings from $30.00 to $32.00 in a research note to investors on Friday, October 4th. They now have a “neutral” rating on the stock. Separately, analysts at KLR Group downgraded shares of Laredo Petroleum Holdings from a “hold” rating to an “accumulate” rating in a research note to investors on Thursday, October 3rd. They now have a $30.00 price target on the stock. Finally, analysts at Goldman Sachs Group Inc. downgraded shares of Laredo Petroleum Holdings from a “buy” rating to a “neutral” rating in a research note to investors on Tuesday, October 1st. They now have a $33.00 price target on the stock, up previously from $30.00. Five analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $33.46.
Shares of Laredo Petroleum Holdings (NYSE:LPI) traded up 2.38% on Monday, hitting $33.909. The stock had a trading volume of 124,531 shares. Laredo Petroleum Holdings has a 1-year low of $15.78 and a 1-year high of $33.28. The stock’s 50-day moving average is $29.24 and its 200-day moving average is $22.44. The company has a market cap of $4.321 billion and a price-to-earnings ratio of 104.48.
Laredo Petroleum Holdings (NYSE:LPI) last announced its earnings results on Thursday, August 8th. The company reported $0.16 EPS for the quarter, meeting the Thomson Reuters consensus estimate of $0.16.
In other Laredo Petroleum Holdings news, Insider Jerry Schuyler unloaded 7,000 shares of Laredo Petroleum Holdings stock on the open market in a transaction that occurred on Thursday, October 10th. The stock was sold at an average price of $30.47, for a total value of $213,290.00. Following the completion of the sale, the insider now directly owns 382,223 shares in the company, valued at approximately $11,646,335. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.
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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