Laredo Petroleum, Inc. (LPI) Price Target Lowered to $11.00 at BMO Capital Markets
Laredo Petroleum, Inc. (NYSE:LPI) had its price target cut by stock analysts at BMO Capital Markets from $14.00 to $11.00 in a report released on Thursday. The brokerage currently has a “market perform” rating on the oil and gas producer’s stock. BMO Capital Markets’ target price would suggest a potential downside of 7.72% from the stock’s previous close.
Several other analysts have also recently commented on LPI. BidaskClub upgraded shares of Laredo Petroleum from a “strong sell” rating to a “sell” rating in a research report on Wednesday, July 5th. Stifel Nicolaus restated a “buy” rating and issued a $17.00 price objective on shares of Laredo Petroleum in a research report on Friday, July 14th. Zacks Investment Research cut shares of Laredo Petroleum from a “hold” rating to a “sell” rating in a research report on Tuesday, July 18th. Bank of America Corporation assumed coverage on shares of Laredo Petroleum in a research report on Wednesday, July 19th. They issued an “underperform” rating and a $11.00 price objective for the company. Finally, Cowen and Company set a $12.00 price objective on shares of Laredo Petroleum and gave the company a “hold” rating in a research report on Tuesday, July 18th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eight have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $14.45.
Laredo Petroleum (NYSE:LPI) last posted its quarterly earnings data on Wednesday, November 1st. The oil and gas producer reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.14 by ($0.01). The firm had revenue of $205.82 million for the quarter, compared to analyst estimates of $178.48 million. Laredo Petroleum had a return on equity of 49.15% and a net margin of 16.73%. The firm’s quarterly revenue was up 28.9% compared to the same quarter last year. During the same period in the prior year, the company posted $0.12 EPS.
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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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