Laredo Petroleum Receives Consensus Recommendation of “Buy” from Brokerages (NYSE:LPI)
Laredo Petroleum (NYSE:LPI) has received a consensus recommendation of “Buy” from the twenty-one analysts that are currently covering the stock, AnalystRatings.NET reports. Seven investment analysts have rated the stock with a hold recommendation and twelve have given a buy recommendation to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $32.61.
Shares of Laredo Petroleum (NYSE:LPI) opened at 23.64 on Thursday. Laredo Petroleum has a 1-year low of $22.58 and a 1-year high of $34.60. The stock’s 50-day moving average is $25.99 and its 200-day moving average is $27.23. The company has a market cap of $3.342 billion and a price-to-earnings ratio of 52.96.
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 revenue for the quarter was up 3.2% on a year-over-year basis. Analysts expect that Laredo Petroleum will post $0.94 EPS for the current fiscal year.
LPI has been the subject of a number of recent research reports. Analysts at Canaccord Genuity downgraded shares of Laredo Petroleum from a “buy” rating to a “hold” rating in a research note on Wednesday, August 27th. They now have a $25.00 price target on the stock, down previously from $42.00. Separately, analysts at Global Hunter Securities cut their price target on shares of Laredo Petroleum from $44.00 to $41.00 in a research note on Tuesday, August 12th. Finally, analysts at Stephens downgraded shares of Laredo Petroleum from an “overweight” rating to an “equal weight” rating in a research note on Monday, August 11th. They now have a $29.00 price target on the stock, down previously from $35.00.
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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