Laredo Petroleum Given New $34.00 Price Target at Brean Capital (LPI)
Investment analysts at Brean Capital cut their target price on shares of Laredo Petroleum (NYSE:LPI) from $38.00 to $34.00 in a note issued to investors on Friday. The firm currently has a “buy” rating on the stock. Brean Capital’s target price indicates a potential upside of 41.02% from the stock’s previous close.
LPI has been the subject of a number of other recent research reports. Analysts at SunTrust downgraded shares of Laredo Petroleum from a “buy” rating to a “neutral” rating in a research note on Friday. They now have a $25.00 price target on the stock, down previously from $40.00. Finally, 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. Seven analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Laredo Petroleum currently has an average rating of “Buy” and an average price target of $33.06.
Shares of Laredo Petroleum (NYSE:LPI) traded up 1.33% during mid-day trading on Friday, hitting $24.43. 2,877,303 shares of the company’s stock traded hands. Laredo Petroleum has a 1-year low of $22.65 and a 1-year high of $34.60. The stock has a 50-day moving average of $28.8 and a 200-day moving average of $27.43. The company has a market cap of $3.450 billion and a price-to-earnings ratio of 28.43.
Laredo Petroleum (NYSE:LPI) last issued its quarterly earnings data on Thursday, August 7th. The company reported $0.14 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.18 by $0.04. The company had revenue of $183.00 million for the quarter, compared to the consensus estimate of $190.23 million. Laredo Petroleum’s revenue was up 3.2% compared to the same quarter last year. On average, analysts predict that Laredo Petroleum will post $1.02 earnings per share 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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