Mizuho Lowers Laredo Petroleum Price Target to $30.00 (LPI)
Research analysts at Mizuho reduced their price objective on shares of Laredo Petroleum (NYSE:LPI) to $30.00 in a report released on Friday. The firm currently has a “buy” rating on the stock. Mizuho’s price objective points to a potential upside of 24.43% from the stock’s previous close.
Shares of Laredo Petroleum (NYSE:LPI) traded down 0.37% on Friday, hitting $24.02. 1,667,910 shares of the company’s stock traded hands. Laredo Petroleum has a 52-week low of $22.65 and a 52-week 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 $3.392 billion and a price-to-earnings ratio of 28.43.
Laredo Petroleum (NYSE:LPI) last posted its quarterly earnings results 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.
Other equities research analysts have also recently issued reports about the stock. Analysts at Howard Weil cut their price target on shares of Laredo Petroleum from $41.00 to $36.00 in a research note on Friday. They now have a “sector outperform” rating on the stock. Separately, analysts at Northland Securities cut their price target on shares of Laredo Petroleum from $36.00 to $34.00 in a research note on Friday. They now have an “outperform” rating on the stock. Finally, 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. Seven equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $33.06.
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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