Research analysts at Credit Suisse Group began coverage on shares of Laredo Petroleum (NYSE:LPI) in a research note issued to investors on Monday. The brokerage set a “neutral” rating and a $12.00 price target on the oil and gas producer’s stock. Credit Suisse Group’s price target indicates a potential upside of 12.68% from the company’s current price.

LPI has been the subject of several other research reports. BMO Capital Markets set a $14.00 price objective on shares of Laredo Petroleum and gave the stock a “hold” rating in a report on Sunday, August 13th. Zacks Investment Research lowered shares of Laredo Petroleum from a “buy” rating to a “hold” rating in a report on Friday, October 20th. Cowen reissued a “hold” rating and issued a $12.00 price target on shares of Laredo Petroleum in a report on Sunday, September 17th. KeyCorp reissued a “hold” rating on shares of Laredo Petroleum in a report on Friday, September 1st. Finally, Seaport Global Securities reissued a “neutral” rating and issued a $9.50 price target (down previously from $10.00) on shares of Laredo Petroleum in a report on Monday, October 9th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and eight have issued a buy rating to the company. Laredo Petroleum currently has a consensus rating of “Hold” and an average price target of $14.08.

Laredo Petroleum (NYSE LPI) traded up $0.26 during midday trading on Monday, hitting $10.65. 2,098,900 shares of the stock traded hands, compared to its average volume of 3,602,590. The firm has a market capitalization of $2,519.71, a price-to-earnings ratio of 21.20, a price-to-earnings-growth ratio of 4.16 and a beta of 1.33. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 4.16. Laredo Petroleum has a 12 month low of $9.55 and a 12 month high of $15.55.

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 for the quarter, missing the Thomson Reuters’ 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 43.77% and a net margin of 15.92%. The business’s quarterly revenue was up 28.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.12 EPS. research analysts expect that Laredo Petroleum will post 0.5 earnings per share for the current year.

A number of hedge funds have recently made changes to their positions in the business. California Public Employees Retirement System boosted its stake in Laredo Petroleum by 1.7% in the third quarter. California Public Employees Retirement System now owns 624,010 shares of the oil and gas producer’s stock valued at $8,068,000 after acquiring an additional 10,610 shares during the last quarter. Allianz Asset Management GmbH boosted its stake in Laredo Petroleum by 34.3% in the third quarter. Allianz Asset Management GmbH now owns 795,136 shares of the oil and gas producer’s stock valued at $10,281,000 after acquiring an additional 203,010 shares during the last quarter. Impala Asset Management LLC boosted its stake in Laredo Petroleum by 11.4% in the third quarter. Impala Asset Management LLC now owns 2,693,685 shares of the oil and gas producer’s stock valued at $34,829,000 after acquiring an additional 276,371 shares during the last quarter. WS Management Lllp boosted its stake in Laredo Petroleum by 50.8% in the third quarter. WS Management Lllp now owns 5,934,700 shares of the oil and gas producer’s stock valued at $76,736,000 after acquiring an additional 2,000,000 shares during the last quarter. Finally, OxFORD Asset Management LLP bought a new position in Laredo Petroleum in the third quarter valued at approximately $1,859,000.

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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.

Analyst Recommendations for Laredo Petroleum (NYSE:LPI)

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