Laredo Petroleum Downgraded by Stephens to Equal Weight (LPI)
Laredo Petroleum (NYSE:LPI) was downgraded by research analysts at Stephens from an “overweight” rating to an “equal weight” rating in a report released on Monday, TheFlyOnTheWall.com reports. They currently have a $29.00 price objective on the stock, down from their previous price objective of $35.00. Stephens’ target price points to a potential upside of 18.27% from the company’s current price.
LPI has been the subject of a number of other recent research reports. Analysts at KLR Group raised their price target on shares of Laredo Petroleum from $2.00 to $27.00 in a research note on Friday. Separately, analysts at Mizuho cut their price target on shares of Laredo Petroleum from $34.00 to $30.00 in a research note on Friday. They now have a “buy” rating on the stock. Finally, 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. Seven research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Laredo Petroleum has an average rating of “Buy” and an average target price of $32.72.
Shares of Laredo Petroleum (NYSE:LPI) opened at 24.08 on Monday. 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 $28.74 and a 200-day moving average of $27.41. The company has a market cap of $3.404 billion and a P/E ratio of 55.85.
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 $0.97 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.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.