Laredo Petroleum (NYSE:LPI) had its target price decreased by stock analysts at Robert W. Baird from $17.00 to $14.00 in a research note issued on Monday, Marketbeat Ratings reports. The firm currently has an “outperform” rating on the oil and gas producer’s stock. Robert W. Baird’s price target suggests a potential upside of 44.63% from the stock’s current price.
A number of other analysts have also commented on the stock. J P Morgan Chase & Co lowered shares of Laredo Petroleum from a “neutral” rating to an “underweight” rating and set a $13.00 price target for the company. in a research note on Friday. Credit Suisse Group began coverage on shares of Laredo Petroleum in a research note on Monday, December 11th. They issued a “neutral” rating and a $12.00 price target for the company. Barclays reiterated a “buy” rating on shares of Laredo Petroleum in a research note on Thursday, November 23rd. 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, Piper Jaffray Companies reiterated a “buy” rating and issued a $15.00 price target on shares of Laredo Petroleum in a research note on Wednesday, November 22nd. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and nine have given a buy rating to the company. Laredo Petroleum presently has an average rating of “Hold” and a consensus price target of $14.07.
Shares of Laredo Petroleum (LPI) opened at $9.68 on Monday. Laredo Petroleum has a 12 month low of $9.46 and a 12 month high of $15.55. The company has a market cap of $2,301.44, a P/E ratio of 19.37, a PEG ratio of 3.78 and a beta of 1.33. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 4.16.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Koch Industries Inc. bought a new stake in Laredo Petroleum during the second quarter valued at approximately $129,000. QCM Cayman Ltd. purchased a new position in Laredo Petroleum during the second quarter valued at approximately $133,000. Teacher Retirement System of Texas lifted its holdings in Laredo Petroleum by 3.8% during the second quarter. Teacher Retirement System of Texas now owns 12,884 shares of the oil and gas producer’s stock valued at $136,000 after purchasing an additional 468 shares in the last quarter. Fox Run Management L.L.C. purchased a new position in Laredo Petroleum during the third quarter valued at approximately $167,000. Finally, BNP Paribas Arbitrage SA lifted its holdings in Laredo Petroleum by 4.8% during 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 purchasing an additional 766 shares in the last quarter.
COPYRIGHT VIOLATION NOTICE: “Robert W. Baird Trims Laredo Petroleum (LPI) Target Price to $14.00” was posted by American Banking News and is owned by of American Banking News. If you are viewing this article on another site, it was copied illegally and republished in violation of US & international trademark and copyright law. The correct version of this article can be viewed at https://www.americanbankingnews.com/2017/12/18/robert-w-baird-reiterates-buy-rating-for-laredo-petroleum-lpi.html.
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.
Receive News & Ratings for Laredo Petroleum Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Laredo Petroleum and related companies with MarketBeat.com's FREE daily email newsletter.