Laredo Petroleum Holdings Downgraded by Zacks to Underperform (LPI)
Laredo Petroleum Holdings (NYSE:LPI) was downgraded by Zacks from a “neutral” rating to an “underperform” rating in a note issued to investors on Thursday, ARN reports. They currently have a $26.30 price target on the stock. Zacks‘ price target would suggest a potential downside of 5.02% from the stock’s previous close.
In other Laredo Petroleum Holdings news, Insider Jerry Schuyler sold 7,000 shares of Laredo Petroleum Holdings stock on the open market in a transaction that occurred on Friday, December 27th. The shares were sold at an average price of $27.64, for a total transaction of $193,480.00. Following the completion of the sale, the insider now directly owns 256,027 shares of the company’s stock, valued at approximately $7,076,586. The transaction was disclosed in a legal filing with the SEC, which is available at this link.
Shares of Laredo Petroleum Holdings (NYSE:LPI) traded down 5.38% during mid-day trading on Thursday, hitting $26.20. 1,245,997 shares of the company’s stock traded hands. Laredo Petroleum Holdings has a 1-year low of $15.78 and a 1-year high of $34.60. The stock’s 50-day moving average is $27.33 and its 200-day moving average is $26.42. The company has a market cap of $3.686 billion and a P/E ratio of 58.54.
Laredo Petroleum Holdings (NYSE:LPI) last posted its quarterly earnings results on Thursday, November 7th. The company reported $0.15 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.15. The company had revenue of $170.80 million for the quarter, compared to the consensus estimate of $169.99 million. The company’s revenue for the quarter was up 18.8% on a year-over-year basis. Analysts expect that Laredo Petroleum Holdings will post $0.55 EPS for the current fiscal year.
A number of other analysts have also recently weighed in on LPI. Analysts at Brean Capital initiated coverage on shares of Laredo Petroleum Holdings in a research note to investors on Thursday, December 5th. They set a “buy” rating on the stock. Separately, analysts at Imperial Capital initiated coverage on shares of Laredo Petroleum Holdings in a research note to investors on Wednesday, November 20th. They set an “in-line” rating and a $31.00 price target on the stock. Finally, analysts at Canaccord Genuity raised their price target on shares of Laredo Petroleum Holdings from $40.00 to $43.00 in a research note to investors on Friday, November 8th. They now have a “buy” rating on the stock. One analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have given a buy rating to the stock. Laredo Petroleum Holdings currently has a consensus rating of “Buy” and a consensus target price of $33.48.
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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