Laredo Petroleum, Inc. (NYSE:LPI) PT Set at $14.00 by Williams Capital
Williams Capital set a $14.00 price target on Laredo Petroleum, Inc. (NYSE:LPI) in a research note released on Tuesday morning. The brokerage currently has a hold rating on the oil and gas producer’s stock.
“We expect management to provide additional details on current operations on the earnings call this morning (August 8 th ) at 8:30 AM ET. Overall, we view the results and update as a slight positive.”,” Williams Capital’s analyst wrote.
Several other research analysts have also recently commented on the company. Zacks Investment Research raised Laredo Petroleum from a sell rating to a hold rating in a research report on Tuesday, August 1st. Cowen and Company set a $12.00 price objective on Laredo Petroleum and gave the company a hold rating in a research note on Tuesday, July 18th. Bank of America Corporation initiated coverage on Laredo Petroleum in a research note on Wednesday, July 19th. They issued an underperform rating and a $11.00 price objective on the stock. Stifel Nicolaus restated a buy rating and issued a $17.00 price objective on shares of Laredo Petroleum in a research note on Friday, July 14th. Finally, BidaskClub upgraded Laredo Petroleum from a sell rating to a hold rating in a research note on Wednesday, July 12th. Three analysts have rated the stock with a sell rating, nine have given a hold rating and ten have given a buy rating to the company’s stock. Laredo Petroleum presently has a consensus rating of Hold and a consensus target price of $14.63.
Shares of Laredo Petroleum (NYSE:LPI) opened at 12.34 on Tuesday. The stock has a market capitalization of $2.95 billion, a P/E ratio of 24.93 and a beta of 1.41. The stock’s 50 day moving average price is $11.56 and its 200-day moving average price is $12.73. Laredo Petroleum has a 1-year low of $9.57 and a 1-year high of $16.47.
Laredo Petroleum (NYSE:LPI) last issued its quarterly earnings results on Monday, August 7th. The oil and gas producer reported $0.10 EPS for the quarter, missing the consensus estimate of $0.11 by $0.01. Laredo Petroleum had a net margin of 16.73% and a return on equity of 49.15%. The company had revenue of $187 million for the quarter, compared to analyst estimates of $173.32 million. During the same period last year, the company posted $0.13 earnings per share. The business’s revenue for the quarter was up 27.5% on a year-over-year basis. Equities research analysts anticipate that Laredo Petroleum will post $0.50 EPS for the current fiscal year.
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Large investors have recently modified their holdings of the stock. Vanguard Group Inc. increased its stake in shares of Laredo Petroleum by 7.9% in the second quarter. Vanguard Group Inc. now owns 16,083,332 shares of the oil and gas producer’s stock worth $169,197,000 after buying an additional 1,176,608 shares in the last quarter. BlackRock Inc. increased its stake in shares of Laredo Petroleum by 2,500.3% in the first quarter. BlackRock Inc. now owns 7,598,973 shares of the oil and gas producer’s stock worth $110,946,000 after buying an additional 7,306,738 shares in the last quarter. State Street Corp increased its stake in shares of Laredo Petroleum by 0.4% in the first quarter. State Street Corp now owns 5,011,171 shares of the oil and gas producer’s stock worth $73,163,000 after buying an additional 18,750 shares in the last quarter. Wellington Management Group LLP increased its stake in shares of Laredo Petroleum by 25.2% in the first quarter. Wellington Management Group LLP now owns 4,311,310 shares of the oil and gas producer’s stock worth $62,944,000 after buying an additional 869,100 shares in the last quarter. Finally, Point72 Asset Management L.P. increased its stake in shares of Laredo Petroleum by 150.2% in the first quarter. Point72 Asset Management L.P. now owns 3,748,400 shares of the oil and gas producer’s stock worth $54,727,000 after buying an additional 2,250,300 shares in the last quarter.
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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