Laredo Petroleum Inc (NYSE:LPI) has been given a consensus rating of “Buy” by the twenty-four brokerages that are currently covering the firm. One analyst has rated the stock with a sell recommendation, eight have issued a hold recommendation and fourteen have assigned a buy recommendation to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $15.19.
A number of equities analysts have recently commented on LPI shares. Credit Suisse Group AG raised their target price on shares of Laredo Petroleum from $10.00 to $12.00 and gave the company an “underperform” rating in a research note on Tuesday, January 31st. SunTrust Banks, Inc. raised shares of Laredo Petroleum from a “hold” rating to a “buy” rating in a research note on Friday, January 20th. FBR & Co cut their target price on shares of Laredo Petroleum from $17.00 to $16.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 15th. KLR Group raised their target price on shares of Laredo Petroleum from $17.00 to $18.00 and gave the company a “buy” rating in a research note on Thursday, February 16th. Finally, Piper Jaffray Companies raised shares of Laredo Petroleum from a “neutral” rating to an “overweight” rating in a research note on Tuesday, February 21st.
In other Laredo Petroleum news, Director Peter Kagan sold 163,207 shares of the firm’s stock in a transaction on Friday, March 31st. The shares were sold at an average price of $14.34, for a total transaction of $2,340,388.38. Following the completion of the transaction, the director now directly owns 68,006 shares of the company’s stock, valued at approximately $975,206.04. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Patrick J. Curth sold 43,830 shares of the firm’s stock in a transaction on Friday, March 31st. The stock was sold at an average price of $14.41, for a total transaction of $631,590.30. Following the transaction, the vice president now directly owns 232,386 shares of the company’s stock, valued at $3,348,682.26. The disclosure for this sale can be found here. 1.50% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Henderson Group PLC raised its position in shares of Laredo Petroleum by 127.8% in the third quarter. Henderson Group PLC now owns 112,808 shares of the oil and gas producer’s stock valued at $1,455,000 after buying an additional 63,278 shares in the last quarter. Rothschild Asset Management Inc. raised its position in shares of Laredo Petroleum by 281.9% in the third quarter. Rothschild Asset Management Inc. now owns 1,978,368 shares of the oil and gas producer’s stock valued at $25,521,000 after buying an additional 1,460,314 shares in the last quarter. Alambic Investment Management L.P. bought a new position in shares of Laredo Petroleum during the third quarter valued at $141,000. Quantbot Technologies LP bought a new position in shares of Laredo Petroleum during the third quarter valued at $909,000. Finally, First Trust Advisors LP bought a new position in shares of Laredo Petroleum during the third quarter valued at $994,000.
Laredo Petroleum (NYSE:LPI) traded up 4.43% during mid-day trading on Monday, hitting $12.02. 4,871,937 shares of the stock traded hands. The stock’s 50 day moving average is $13.52 and its 200-day moving average is $13.80. Laredo Petroleum has a 12 month low of $9.20 and a 12 month high of $16.47. The company’s market cap is $2.86 billion.
Laredo Petroleum (NYSE:LPI) last issued its earnings results on Wednesday, May 3rd. The oil and gas producer reported $0.10 EPS for the quarter, missing the Zacks’ consensus estimate of $0.11 by $0.01. Laredo Petroleum had a negative net margin of 225.04% and a positive return on equity of 123.07%. The business earned $189 million during the quarter, compared to analysts’ expectations of $164.39 million. During the same period in the prior year, the business posted $0.08 EPS. The business’s revenue was up 77.3% on a year-over-year basis. On average, equities research analysts anticipate that Laredo Petroleum will post $0.55 EPS for the current year.
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.