Laredo Petroleum Rating Lowered to Hold at TheStreet (LPI)
Other equities research analysts have also recently issued reports about the stock. Analysts at KLR Group downgraded shares of Laredo Petroleum from an “accumulate” rating to a “hold” rating in a research note on Tuesday, May 13th. They now have a $29.00 price target on the stock, up previously from $2.00. Separately, analysts at Brean Capital initiated coverage on shares of Laredo Petroleum in a research note on Friday, May 9th. They set a “buy” rating and a $36.00 price target on the stock. Finally, analysts at Robert W. Baird initiated coverage on shares of Laredo Petroleum in a research note on Tuesday, April 15th. They set an “outperform” rating and a $35.00 price target on the stock. They noted that the move was a valuation call. Seven investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Laredo Petroleum has an average rating of “Buy” and an average price target of $33.76.
Shares of Laredo Petroleum (NYSE:LPI) traded up 2.15% during mid-day trading on Monday, hitting $30.685. The stock had a trading volume of 1,263,106 shares. Laredo Petroleum has a 52-week low of $19.64 and a 52-week high of $34.60. The stock has a 50-day moving average of $28.31 and a 200-day moving average of $26.7. The company has a market cap of $4.334 billion and a P/E ratio of 35.42.
Laredo Petroleum (NYSE:LPI) last posted its quarterly earnings results on Thursday, May 8th. The company reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.35. The company had revenue of $173.20 million for the quarter, compared to the consensus estimate of $169.86 million. The company’s revenue for the quarter was up 5.9% on a year-over-year basis. Analysts expect that Laredo Petroleum will post $0.97 EPS for the current fiscal year.
In other Laredo Petroleum news, CEO Randy A. Foutch sold 70,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 11th. The shares were sold at an average price of $28.93, for a total value of $2,025,100.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Laredo Petroleum, Inc, formerly Laredo Petroleum Holdings, Inc, is focused on the exploration, development and acquisition of oil and natural gas properties primarily in the Permian region of the United States.
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