Laredo Petroleum, Inc. (LPI) Upgraded by Zacks Investment Research to Hold

Zacks Investment Research upgraded shares of Laredo Petroleum, Inc. (NYSE:LPI) from a sell rating to a hold rating in a report issued on Tuesday, August 1st.

According to Zacks, “Laredo Petroleum Holdings, Inc. is engaged in the exploration, development and acquisition of oil and natural gas properties in the Permian and Mid-Continent regions of the United States. Laredo Petroleum Holdings, Inc. is headquartered in Tulsa, Oklahoma. “

Other research analysts also recently issued research reports about the stock. Barclays PLC reaffirmed a buy rating and issued a $18.00 target price (down previously from $19.00) on shares of Laredo Petroleum in a research report on Thursday, April 20th. Stifel Nicolaus started coverage on shares of Laredo Petroleum in a research report on Wednesday, April 12th. They issued a buy rating and a $18.00 target price for the company. FBR & Co reaffirmed a buy rating and issued a $16.00 target price on shares of Laredo Petroleum in a research report on Friday, May 12th. TheStreet raised shares of Laredo Petroleum from a d- rating to a c- rating in a research report on Wednesday, May 3rd. Finally, Scotiabank reaffirmed a hold rating and issued a $15.00 target price on shares of Laredo Petroleum in a research report on Monday, May 15th. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and ten have assigned a buy rating to the company. The stock currently has a consensus rating of Hold and an average target price of $14.87.

Laredo Petroleum (NYSE LPI) traded up 0.93% during trading on Tuesday, hitting $11.91. 2,553,253 shares of the stock traded hands. The company’s 50 day moving average is $11.83 and its 200 day moving average is $12.66. Laredo Petroleum has a one year low of $9.57 and a one year high of $16.47. The company has a market capitalization of $2.85 billion, a P/E ratio of 24.06 and a beta of 1.41.

Laredo Petroleum (NYSE:LPI) last released its earnings results on Monday, August 7th. The oil and gas producer reported $0.10 earnings per share for the quarter, missing analysts’ consensus estimates of $0.11 by $0.01. The business had revenue of $187 million during the quarter, compared to the consensus estimate of $173.32 million. Laredo Petroleum had a net margin of 16.73% and a return on equity of 49.15%. The firm’s revenue for the quarter was up 27.5% on a year-over-year basis. During the same period last year, the business posted $0.13 EPS. On average, equities analysts forecast that Laredo Petroleum will post $0.50 EPS for the current fiscal year.

ILLEGAL ACTIVITY WARNING: “Laredo Petroleum, Inc. (LPI) Upgraded by Zacks Investment Research to Hold” was originally posted by BNB Daily and is the sole property of of BNB Daily. If you are accessing this article on another domain, it was copied illegally and republished in violation of international copyright & trademark laws. The correct version of this article can be read at https://www.baseball-news-blog.com/2017/08/19/laredo-petroleum-inc-lpi-upgraded-by-zacks-investment-research-to-hold-updated-updated.html.

A number of hedge funds have recently modified their holdings of the company. Comerica Bank boosted its stake in shares of Laredo Petroleum by 37.4% in the fourth quarter. Comerica Bank now owns 18,762 shares of the oil and gas producer’s stock valued at $259,000 after buying an additional 5,107 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Laredo Petroleum by 22.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 934,914 shares of the oil and gas producer’s stock valued at $13,220,000 after buying an additional 171,994 shares during the last quarter. Renaissance Technologies LLC purchased a new position in shares of Laredo Petroleum during the fourth quarter valued at approximately $4,382,000. Norges Bank purchased a new position in shares of Laredo Petroleum during the fourth quarter valued at approximately $25,204,000. Finally, Highbridge Capital Management LLC purchased a new position in shares of Laredo Petroleum during the fourth quarter valued at approximately $392,000.

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.

Get a free copy of the Zacks research report on Laredo Petroleum (LPI)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Laredo Petroleum (NYSE:LPI)

Receive News & Ratings for Laredo Petroleum Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Laredo Petroleum Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply