Laredo Petroleum (NYSE:LPI) was downgraded by equities research analysts at J P Morgan Chase & Co from a “neutral” rating to an “underweight” rating in a research report issued on Friday, MarketBeat Ratings reports.
Several other research analysts also recently commented on the stock. Zacks Investment Research downgraded shares of Laredo Petroleum from a “buy” rating to a “hold” rating in a research note on Friday, October 20th. Williams Capital lifted their price target on shares of Laredo Petroleum from $13.00 to $14.00 and gave the stock a “hold” rating in a research note on Wednesday, October 18th. BMO Capital Markets set a $14.00 price target on shares of Laredo Petroleum and gave the stock a “hold” rating in a research note on Tuesday, October 10th. Scotiabank set a $14.00 price target on shares of Laredo Petroleum and gave the stock a “hold” rating in a research note on Wednesday, November 22nd. Finally, KeyCorp reissued a “hold” rating on shares of Laredo Petroleum in a research note on Friday, November 10th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and eight have assigned a buy rating to the company. Laredo Petroleum currently has a consensus rating of “Hold” and an average target price of $14.08.
Laredo Petroleum (LPI) traded down $0.51 during mid-day trading on Friday, hitting $9.49. 3,433,277 shares of the company’s stock traded hands, compared to its average volume of 3,598,409. The stock has a market capitalization of $2,485.75, a P/E ratio of 20.92, a PEG ratio of 4.08 and a beta of 1.33. Laredo Petroleum has a 52-week low of $9.46 and a 52-week high of $15.55. The company has a debt-to-equity ratio of 4.16, a current ratio of 0.64 and a quick ratio of 0.64.
Several institutional investors have recently modified their holdings of the company. Teacher Retirement System of Texas grew its holdings in shares of Laredo Petroleum by 3.8% in the second quarter. Teacher Retirement System of Texas now owns 12,884 shares of the oil and gas producer’s stock worth $136,000 after purchasing an additional 468 shares during the last quarter. Public Employees Retirement Association of Colorado boosted its holdings in Laredo Petroleum by 1.6% in the second quarter. Public Employees Retirement Association of Colorado now owns 35,230 shares of the oil and gas producer’s stock valued at $371,000 after acquiring an additional 546 shares in the last quarter. BNP Paribas Arbitrage SA boosted its holdings in Laredo Petroleum by 4.8% in the second quarter. BNP Paribas Arbitrage SA now owns 16,735 shares of the oil and gas producer’s stock valued at $176,000 after acquiring an additional 766 shares in the last quarter. Legal & General Group Plc boosted its holdings in Laredo Petroleum by 3.2% in the second quarter. Legal & General Group Plc now owns 53,014 shares of the oil and gas producer’s stock valued at $558,000 after acquiring an additional 1,635 shares in the last quarter. Finally, Pacer Advisors Inc. boosted its holdings in Laredo Petroleum by 12.0% in the second quarter. Pacer Advisors Inc. now owns 17,163 shares of the oil and gas producer’s stock valued at $181,000 after acquiring an additional 1,838 shares in the last quarter.
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About Laredo Petroleum
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.
