BMO Capital Markets Reiterates Hold Rating for Laredo Petroleum (LPI)
Laredo Petroleum (NYSE:LPI)‘s stock had its “hold” rating reissued by research analysts at BMO Capital Markets in a research note issued to investors on Thursday. They presently have a $12.00 price objective on the oil and gas producer’s stock. BMO Capital Markets’ target price suggests a potential upside of 7.05% from the company’s current price.
Several other analysts have also recently weighed in on the company. Piper Jaffray Companies reaffirmed a “buy” rating and set a $16.00 price objective on shares of Laredo Petroleum in a research report on Tuesday. Robert W. Baird cut their price objective on Laredo Petroleum from $17.00 to $14.00 and set an “outperform” rating on the stock in a research report on Monday, December 18th. JPMorgan Chase & Co. cut Laredo Petroleum from a “neutral” rating to an “underweight” rating and set a $13.00 price objective on the stock. in a research report on Friday, December 15th. Credit Suisse Group assumed coverage on Laredo Petroleum in a research report on Monday, December 11th. They set a “neutral” rating and a $12.00 price objective on the stock. Finally, Barclays reissued a “buy” rating on shares of Laredo Petroleum in a research report on Thursday, November 23rd. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and eight have assigned a buy rating to the stock. Laredo Petroleum presently has a consensus rating of “Hold” and an average target price of $13.91.
Laredo Petroleum (NYSE:LPI) traded up $0.31 during trading on Thursday, reaching $11.21. The company’s stock had a trading volume of 2,850,832 shares, compared to its average volume of 2,408,467. The company has a debt-to-equity ratio of 4.16, a quick ratio of 0.64 and a current ratio of 0.64. The company has a market cap of $2,720.00, a PE ratio of 22.42, a price-to-earnings-growth ratio of 2.46 and a beta of 1.32. Laredo Petroleum has a fifty-two week low of $9.46 and a fifty-two week high of $15.15.
Several institutional investors and hedge funds have recently modified their holdings of LPI. Quantbot Technologies LP purchased a new position in Laredo Petroleum in the 1st quarter worth approximately $114,000. Meeder Asset Management Inc. raised its holdings in Laredo Petroleum by 282.5% in the 1st quarter. Meeder Asset Management Inc. now owns 8,093 shares of the oil and gas producer’s stock worth $118,000 after acquiring an additional 5,977 shares during the last quarter. Glen Harbor Capital Management LLC purchased a new position in Laredo Petroleum in the 1st quarter worth approximately $122,000. Geduld E E purchased a new position in Laredo Petroleum in the 2nd quarter worth approximately $105,000. Finally, James Investment Research Inc. purchased a new position in Laredo Petroleum in the 1st quarter worth approximately $149,000.
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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.
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