Laredo Petroleum, Inc. (LPI) PT Set at $14.00 by BMO Capital Markets
Laredo Petroleum, Inc. (NYSE:LPI) received a $14.00 price objective from equities researchers at BMO Capital Markets in a research report issued to clients and investors on Tuesday. The brokerage presently has a “hold” rating on the oil and gas producer’s stock. BMO Capital Markets’ target price would indicate a potential upside of 10.50% from the stock’s current price.
LPI has been the topic of a number of other research reports. Zacks Investment Research lowered Laredo Petroleum from a “hold” rating to a “sell” rating in a research note on Tuesday, July 18th. Cowen and Company reaffirmed a “hold” rating and issued a $12.00 target price on shares of Laredo Petroleum in a research note on Sunday, September 17th. KeyCorp reaffirmed a “hold” rating on shares of Laredo Petroleum in a research note on Friday, September 1st. BidaskClub raised Laredo Petroleum from a “strong sell” rating to a “sell” rating in a research note on Wednesday, July 5th. Finally, Bank of America Corporation began coverage on Laredo Petroleum in a research note on Wednesday, July 19th. They set an “underperform” rating and a $11.00 price target on the stock. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating and eight have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $14.68.
Shares of Laredo Petroleum (NYSE LPI) opened at 12.67 on Tuesday. Laredo Petroleum has a 12-month low of $9.57 and a 12-month high of $16.47. The firm has a market cap of $3.03 billion, a PE ratio of 25.60 and a beta of 1.45. The company has a 50 day moving average price of $12.44 and a 200 day moving average price of $12.30.
Laredo Petroleum (NYSE:LPI) last posted its earnings results on Monday, August 7th. The oil and gas producer reported $0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.01). Laredo Petroleum had a net margin of 16.73% and a return on equity of 49.15%. The company had revenue of $187.00 million during the quarter, compared to analysts’ expectations of $173.32 million. During the same period in the previous year, the company posted $0.13 EPS. Laredo Petroleum’s quarterly revenue was up 27.5% compared to the same quarter last year. On average, analysts forecast that Laredo Petroleum will post $0.62 earnings per share for the current fiscal year.
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Hedge funds have recently added to or reduced their stakes in the company. Evanson Asset Management LLC acquired a new stake in shares of Laredo Petroleum during the 2nd quarter worth $108,000. Quantbot Technologies LP acquired a new stake in shares of Laredo Petroleum during the 1st quarter worth $114,000. Meeder Asset Management Inc. increased its holdings in shares of Laredo Petroleum by 282.5% during the 1st quarter. Meeder Asset Management Inc. now owns 8,093 shares of the oil and gas producer’s stock worth $118,000 after buying an additional 5,977 shares during the last quarter. Koch Industries Inc. acquired a new stake in Laredo Petroleum in the 2nd quarter valued at $129,000. Finally, QCM Cayman Ltd. acquired a new stake in Laredo Petroleum in the 2nd quarter valued at $133,000.
Laredo Petroleum Company Profile
Laredo Petroleum, Inc (Laredo) is an independent energy company. The Company is focused on the acquisition, exploration and development of oil and natural gas properties, and the transportation of oil and natural gas from such properties primarily in the Permian Basin in West Texas. It operates through two segments: Exploration and production of oil and natural gas properties, and Midstream and marketing.
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