Laredo Petroleum (LPI) Stock Rating Reaffirmed by Williams Capital

Laredo Petroleum (NYSE:LPI)‘s stock had its “hold” rating reissued by equities researchers at Williams Capital in a report released on Thursday. They presently have a $11.00 target price on the oil and gas producer’s stock. Williams Capital’s price target suggests a potential upside of 31.58% from the stock’s previous close.

The analysts wrote, “We reaffirm our Hold rang, but reduce our price target to $11 (from $13).””

Other equities research analysts have also recently issued research reports about the company. BMO Capital Markets restated a “hold” rating and issued a $12.00 target price on shares of Laredo Petroleum in a research note on Thursday, January 11th. Robert W. Baird dropped their price objective on Laredo Petroleum from $17.00 to $14.00 and set an “outperform” rating on the stock in a research note on Monday, December 18th. Credit Suisse Group began coverage on Laredo Petroleum in a research note on Monday, December 11th. They set a “neutral” rating and a $12.00 price objective on the stock. Zacks Investment Research cut Laredo Petroleum from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, January 31st. Finally, Deutsche Bank began coverage on Laredo Petroleum in a research note on Thursday, February 1st. They set a “hold” rating and a $11.00 price objective on the stock. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating and seven have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $13.31.

Laredo Petroleum (NYSE:LPI) traded up $0.03 during midday trading on Thursday, reaching $8.36. The company’s stock had a trading volume of 4,206,877 shares, compared to its average volume of 3,668,751. The company has a market cap of $2,030.00, a PE ratio of 3.68, a price-to-earnings-growth ratio of 1.55 and a beta of 1.21. The company has a debt-to-equity ratio of 4.16, a current ratio of 0.64 and a quick ratio of 0.64. Laredo Petroleum has a 12-month low of $7.41 and a 12-month high of $15.15.

Laredo Petroleum (NYSE:LPI) last released its earnings results on Wednesday, February 14th. The oil and gas producer reported $0.19 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.18 by $0.01. The firm had revenue of $240.34 million for the quarter, compared to analysts’ expectations of $212.57 million. Laredo Petroleum had a return on equity of 41.18% and a net margin of 66.77%. The business’s quarterly revenue was up 30.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.16 EPS. sell-side analysts forecast that Laredo Petroleum will post 1.02 earnings per share for the current fiscal year.

Laredo Petroleum declared that its board has authorized a share repurchase program on Wednesday, February 14th that allows the company to buyback $200.00 million in outstanding shares. This buyback authorization allows the oil and gas producer to repurchase shares of its stock through open market purchases. Shares buyback programs are generally a sign that the company’s management believes its shares are undervalued.

Hedge funds have recently bought and sold shares of the stock. HRT Financial LLC acquired a new position in shares of Laredo Petroleum during the 4th quarter worth approximately $117,000. State of Alaska Department of Revenue acquired a new position in shares of Laredo Petroleum during the 4th quarter worth approximately $123,000. Koch Industries Inc. acquired a new position in shares of Laredo Petroleum during the 2nd quarter worth approximately $129,000. Virtu Financial LLC acquired a new position in shares of Laredo Petroleum during the 4th quarter worth approximately $154,000. Finally, Sciencast Management LP acquired a new position in shares of Laredo Petroleum during the 4th quarter worth approximately $165,000.

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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.

Analyst Recommendations for Laredo Petroleum (NYSE:LPI)

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