Laredo Petroleum Inc (NYSE:LPI)’s share price was up 7.6% on Monday . The stock traded as high as $3.71 and last traded at $3.70. Approximately 5,313,463 shares changed hands during mid-day trading, an increase of 29% from the average daily volume of 4,118,009 shares. The stock had previously closed at $3.44.
Several equities analysts have recently weighed in on LPI shares. Capital One Financial lowered Laredo Petroleum from an “overweight” rating to an “underweight” rating in a research note on Thursday, December 20th. Robert W. Baird reduced their price objective on Laredo Petroleum from $10.00 to $3.00 and set a “neutral” rating on the stock in a research note on Friday, January 4th. Raymond James set a $5.00 price objective on Laredo Petroleum and gave the company a “buy” rating in a research note on Wednesday, January 23rd. MKM Partners started coverage on Laredo Petroleum in a research note on Wednesday, December 5th. They issued a “buy” rating and a $9.00 price objective on the stock. Finally, Piper Jaffray Companies lowered Laredo Petroleum from an “overweight” rating to a “neutral” rating in a research note on Wednesday, January 9th. Four analysts have rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $8.44.
The stock has a market capitalization of $804.55 million, a P/E ratio of 6.17 and a beta of 1.54. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.95.
Laredo Petroleum Company Profile (NYSE:LPI)
Laredo Petroleum, Inc operates as an independent energy company in the United States. It operates through two segments, Exploration and Production; and Midstream and Marketing. The company engages in the acquisition, exploration, and development of oil and natural gas properties; and the transportation of oil and natural gas primarily in the Permian Basin in West Texas, as well as rig fuel, natural gas lift, and water delivery and takeaway services.
Further Reading: Strangles
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