Laredo Petroleum PT Lowered to $34.00 (LPI)
Analysts at Northland Securities dropped their price target on shares of Laredo Petroleum (NYSE:LPI) from $36.00 to $34.00 in a research report issued to clients and investors on Friday. The firm currently has an “outperform” rating on the stock. Northland Securities’ price objective would indicate a potential upside of 41.02% from the company’s current price.
Other equities research analysts have also recently issued reports about the stock. Analysts at Brean Capital cut their price target on shares of Laredo Petroleum from $38.00 to $34.00 in a research note on Friday. They now have a “buy” rating on the stock. Separately, 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. Seven investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $33.06.
Laredo Petroleum (NYSE:LPI) traded up 1.39% during mid-day trading on Friday, hitting $24.445. The stock had a trading volume of 2,867,629 shares. Laredo Petroleum has a 1-year low of $22.65 and a 1-year high of $34.60. The stock’s 50-day moving average is $28.8 and its 200-day moving average is $27.43. The company has a market cap of $3.452 billion and a P/E ratio of 28.43.
Laredo Petroleum (NYSE:LPI) last released its earnings data on Thursday, August 7th. The company reported $0.14 EPS for the quarter, missing the Thomson Reuters 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. The company’s quarterly revenue was up 3.2% on a year-over-year basis. 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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