Laredo Petroleum (LPI) Research Coverage Started at National Securities
Analysts at National Securities assumed coverage on shares of Laredo Petroleum (NYSE:LPI) in a report released on Tuesday, The Fly reports. The brokerage set a “buy” rating on the oil and gas producer’s stock.
A number of other brokerages have also recently commented on LPI. BMO Capital Markets set a $14.00 price objective on Laredo Petroleum and gave the stock a “hold” rating in a research note on Tuesday, October 10th. Stifel Nicolaus reaffirmed a “buy” rating and set a $17.00 price objective on shares of Laredo Petroleum in a research note on Wednesday, October 4th. Seaport Global Securities reaffirmed a “neutral” rating and set a $9.50 price objective (down from $10.00) on shares of Laredo Petroleum in a research note on Monday, October 9th. Zacks Investment Research upgraded Laredo Petroleum from a “hold” rating to a “buy” rating and set a $14.00 target price on the stock in a report on Tuesday, October 17th. Finally, Williams Capital lifted their target price on Laredo Petroleum from $13.00 to $14.00 and gave the stock a “hold” rating in a report on Wednesday, October 18th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and nine have given a buy rating to the company. Laredo Petroleum presently has a consensus rating of “Hold” and a consensus price target of $13.91.
Shares of Laredo Petroleum (NYSE:LPI) traded down $0.04 during trading on Tuesday, hitting $11.04. The company had a trading volume of 1,257,022 shares, compared to its average volume of 2,295,389. 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 twelve month low of $9.46 and a twelve month high of $15.15. The firm has a market capitalization of $2,680.00, a PE ratio of 22.07, a PEG ratio of 2.53 and a beta of 1.32.
Laredo Petroleum (NYSE:LPI) last announced its quarterly earnings data on Wednesday, November 1st. The oil and gas producer reported $0.13 EPS for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.01). Laredo Petroleum had a return on equity of 43.77% and a net margin of 15.92%. The company had revenue of $205.82 million for the quarter, compared to analyst estimates of $178.48 million. During the same period last year, the firm earned $0.12 earnings per share. The firm’s revenue for the quarter was up 28.9% on a year-over-year basis. research analysts predict that Laredo Petroleum will post 0.52 earnings per share for the current fiscal year.
Hedge funds have recently bought and sold shares of the business. Russell Investments Group Ltd. lifted its holdings in shares of Laredo Petroleum by 32.5% in the second quarter. Russell Investments Group Ltd. now owns 45,411 shares of the oil and gas producer’s stock valued at $478,000 after purchasing an additional 11,150 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Laredo Petroleum by 18.1% in the second quarter. Bank of New York Mellon Corp now owns 1,232,392 shares of the oil and gas producer’s stock valued at $12,965,000 after purchasing an additional 189,207 shares in the last quarter. Legal & General Group Plc lifted its holdings in shares of 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 purchasing an additional 1,635 shares in the last quarter. BNP Paribas Arbitrage SA lifted its holdings in shares of 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 purchasing an additional 766 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its holdings in shares of Laredo Petroleum by 28.2% in the second quarter. Principal Financial Group Inc. now owns 31,619 shares of the oil and gas producer’s stock valued at $333,000 after purchasing an additional 6,946 shares in the last quarter.
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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.