Laredo Petroleum (LPI) Stock Rating Upgraded by Williams Capital

Laredo Petroleum (NYSE:LPI) was upgraded by equities researchers at Williams Capital from a “hold” rating to a “buy” rating in a note issued to investors on Thursday, Briefing.com Automated Import reports. The firm currently has a $5.50 price objective on the oil and gas producer’s stock, up from their prior price objective of $4.00. Williams Capital’s target price indicates a potential upside of 57.59% from the stock’s previous close.

Several other brokerages have also weighed in on LPI. Zacks Investment Research raised shares of Laredo Petroleum from a “hold” rating to a “buy” rating and set a $3.50 price objective on the stock in a research report on Tuesday, April 30th. Raymond James set a $5.00 price objective on shares of Laredo Petroleum and gave the company a “buy” rating in a research report on Wednesday, January 23rd. MKM Partners reaffirmed a “neutral” rating and set a $3.00 price objective (down previously from $5.00) on shares of Laredo Petroleum in a research report on Friday, February 15th. Societe Generale lowered shares of Laredo Petroleum from a “buy” rating to a “hold” rating in a research report on Friday, February 15th. Finally, Robert W. Baird raised shares of Laredo Petroleum from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $3.00 to $7.00 in a research report on Thursday, May 9th. Three analysts have rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $7.07.

Shares of LPI opened at $3.49 on Thursday. The company has a market cap of $804.27 million, a P/E ratio of 3.75 and a beta of 1.45. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.85 and a current ratio of 0.85. Laredo Petroleum has a twelve month low of $2.80 and a twelve month high of $10.43.

Laredo Petroleum (NYSE:LPI) last issued its quarterly earnings data on Wednesday, May 1st. The oil and gas producer reported $0.12 earnings per share for the quarter, beating the consensus estimate of $0.10 by $0.02. The firm had revenue of $208.95 million for the quarter, compared to analyst estimates of $198.64 million. Laredo Petroleum had a net margin of 21.68% and a return on equity of 17.30%. The company’s revenue for the quarter was down 19.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.24 earnings per share. Analysts predict that Laredo Petroleum will post 0.73 earnings per share for the current year.

Several large investors have recently added to or reduced their stakes in the company. BlueCrest Capital Management Ltd bought a new position in shares of Laredo Petroleum in the first quarter valued at approximately $65,000. Hotchkis & Wiley Capital Management LLC bought a new position in shares of Laredo Petroleum in the first quarter valued at approximately $2,558,000. Marshall Wace LLP bought a new position in shares of Laredo Petroleum in the first quarter valued at approximately $1,746,000. Geode Capital Management LLC raised its position in shares of Laredo Petroleum by 8.8% in the first quarter. Geode Capital Management LLC now owns 1,719,743 shares of the oil and gas producer’s stock valued at $5,314,000 after purchasing an additional 139,158 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Laredo Petroleum by 5.9% in the first quarter. Charles Schwab Investment Management Inc. now owns 881,030 shares of the oil and gas producer’s stock valued at $2,723,000 after purchasing an additional 49,003 shares during the period.

Laredo Petroleum Company Profile

Laredo Petroleum, Inc, an independent energy company, engages in the acquisition, exploration, and development of oil and natural gas properties in the Permian Basin of West Texas, the United States. The company also provides midstream and marketing services comprising transportation and marketing of oil and natural gas; and natural gas lift systems, crude oil and natural gas gathering, and water delivery and takeaway services.

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Analyst Recommendations for Laredo Petroleum (NYSE:LPI)

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