Laredo Petroleum’s (LPI) “Hold” Rating Reaffirmed at Cowen and Company

Laredo Petroleum, Inc. (NYSE:LPI)‘s stock had its “hold” rating reaffirmed by analysts at Cowen and Company in a research note issued on Sunday. They presently have a $12.00 target price on the oil and gas producer’s stock. Cowen and Company’s price objective indicates a potential downside of 2.36% from the company’s previous close.

LPI has been the topic of a number of other research reports. Stifel Nicolaus reissued a “buy” rating and issued a $17.00 price target on shares of Laredo Petroleum in a research note on Friday, July 14th. BMO Capital Markets reissued a “hold” rating and issued a $10.00 price target on shares of Laredo Petroleum in a research note on Tuesday, June 27th. KeyCorp reissued a “hold” rating on shares of Laredo Petroleum in a research note on Friday, September 1st. Credit Suisse Group reissued an “underperform” rating and issued a $15.00 price target on shares of Laredo Petroleum in a research note on Friday, June 2nd. Finally, Zacks Investment Research raised shares of Laredo Petroleum from a “sell” rating to a “hold” rating in a research note on Tuesday, August 1st. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and eight have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $14.72.

Laredo Petroleum (NYSE LPI) opened at 12.29 on Friday. Laredo Petroleum has a 12-month low of $9.57 and a 12-month high of $16.47. The stock has a 50 day moving average of $12.18 and a 200 day moving average of $12.40. The stock has a market cap of $2.94 billion, a P/E ratio of 24.83 and a beta of 1.44.

Laredo Petroleum (NYSE:LPI) last released its quarterly earnings results on Monday, August 7th. The oil and gas producer reported $0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 $187.00 million during the quarter, compared to analyst estimates of $173.32 million. During the same period in the prior year, the business posted $0.13 EPS. Laredo Petroleum’s revenue was up 27.5% compared to the same quarter last year. On average, equities research analysts anticipate that Laredo Petroleum will post $0.51 earnings per share for the current fiscal year.

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Hedge funds and other institutional investors have recently bought and sold shares of the company. Evanson Asset Management LLC purchased a new position in shares of Laredo Petroleum during the 2nd quarter worth $108,000. Quantbot Technologies LP purchased a new position in shares of Laredo Petroleum during the 1st quarter worth $114,000. Meeder Asset Management Inc. raised its holdings in shares of Laredo Petroleum by 282.5% during the 1st quarter. Meeder Asset Management Inc. now owns 8,093 shares of the oil and gas producer’s stock worth $118,000 after acquiring an additional 5,977 shares during the period. Glen Harbor Capital Management LLC purchased a new position in shares of Laredo Petroleum during the 1st quarter worth $122,000. Finally, Koch Industries Inc. purchased a new position in shares of Laredo Petroleum during the 2nd quarter worth $129,000.

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.

Analyst Recommendations for Laredo Petroleum (NYSE:LPI)

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