Laredo Petroleum Price Target Cut to $41.00 by Analysts at Global Hunter Securities (LPI)
Investment analysts at Global Hunter Securities decreased their price target on shares of Laredo Petroleum (NYSE:LPI) from $44.00 to $41.00 in a note issued to investors on Tuesday. Global Hunter Securities’ price objective would suggest a potential upside of 66.87% from the company’s current price.
Laredo Petroleum (NYSE:LPI) traded down 2.28% during mid-day trading on Tuesday, hitting $24.01. 999,953 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’s 50-day moving average is $28.58 and its 200-day moving average is $27.42. The company has a market cap of $3.394 billion and a P/E ratio of 55.97.
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 $0.95 earnings per share for the current fiscal year.
LPI has been the subject of a number of other recent research reports. Analysts at Stephens downgraded shares of Laredo Petroleum from an “overweight” rating to an “equal weight” rating in a research note on Monday. They now have a $29.00 price target on the stock, down previously from $35.00. Separately, 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. Finally, 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. Six analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $33.22.
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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