Laredo Petroleum Price Target Increased to $40.00 by Analysts at SunTrust (LPI)
Stock analysts at SunTrust hoisted their price objective on shares of Laredo Petroleum (NYSE:LPI) from $36.00 to $40.00 in a report issued on Friday. SunTrust’s target price points to a potential upside of 37.13% from the stock’s previous close.
A number of other firms have also recently commented on LPI. Analysts at Canaccord Genuity initiated coverage on shares of Laredo Petroleum in a research note on Tuesday, July 1st. They set a “buy” rating and a $36.00 price target on the stock. Separately, analysts at GMP Securities initiated coverage on shares of Laredo Petroleum in a research note on Tuesday, June 24th. They set a “buy” rating and a $37.00 price target on the stock. Finally, analysts at TheStreet downgraded shares of Laredo Petroleum to a “hold” rating in a research note on Monday, June 23rd. Seven analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $34.13.
Laredo Petroleum (NYSE:LPI) traded down 2.64% during mid-day trading on Friday, hitting $28.40. 559,811 shares of the company’s stock traded hands. Laredo Petroleum has a one year low of $20.11 and a one year high of $34.60. The stock’s 50-day moving average is $29.01 and its 200-day moving average is $27.15. The company has a market cap of $4.011 billion and a price-to-earnings ratio of 34.40.
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.
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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