Shares of Laredo Petroleum, Inc. (NYSE:LPI – Get Rating) have been assigned an average rating of "Hold" from the six brokerages that are currently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating on the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $115.00.
LPI has been the topic of a number of analyst reports. Raymond James reduced their price target on Laredo Petroleum from $110.00 to $95.00 and set an "outperform" rating on the stock in a research report on Thursday, August 18th. Piper Sandler increased their price target on Laredo Petroleum from $117.00 to $120.00 and gave the stock an "overweight" rating in a research report on Friday, July 22nd. Finally, Wells Fargo & Company increased their price target on Laredo Petroleum from $113.00 to $125.00 and gave the stock an "underweight" rating in a research report on Monday, July 11th.
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Laredo Petroleum Price Performance
Shares of NYSE LPI opened at $62.33 on Thursday. The firm has a market cap of $1.08 billion, a P/E ratio of 1.97 and a beta of 3.52. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 1.90. Laredo Petroleum has a 1-year low of $51.22 and a 1-year high of $120.86. The business's 50 day moving average is $72.17 and its 200-day moving average is $75.81.
Insider Buying and Selling at Laredo Petroleum
In other Laredo Petroleum news, CFO Bryan Lemmerman sold 10,522 shares of the firm's stock in a transaction on Tuesday, July 5th. The stock was sold at an average price of $62.84, for a total value of $661,202.48. Following the sale, the chief financial officer now owns 61,113 shares of the company's stock, valued at approximately $3,840,340.92. The sale was disclosed in a document filed with the SEC, which is available at
the SEC website. In other news, CFO Bryan Lemmerman sold 10,522 shares of the stock in a transaction on Tuesday, July 5th. The stock was sold at an average price of $62.84, for a total value of $661,202.48. Following the completion of the transaction, the chief financial officer now directly owns 61,113 shares in the company, valued at approximately $3,840,340.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through
this hyperlink. Also, CEO M. Jason Pigott sold 3,750 shares of the stock in a transaction on Thursday, September 8th. The shares were sold at an average price of $69.88, for a total value of $262,050.00. Following the completion of the transaction, the chief executive officer now owns 114,407 shares of the company's stock, valued at $7,994,761.16. The disclosure for this sale can be found
here. In the last quarter, insiders have sold 15,281 shares of company stock valued at $995,921. 2.20% of the stock is currently owned by corporate insiders.
Institutional Inflows and Outflows
Large investors have recently modified their holdings of the company. State Street Corp lifted its stake in shares of Laredo Petroleum by 10.1% in the 4th quarter. State Street Corp now owns 1,577,459 shares of the oil and gas producer's stock valued at $94,853,000 after acquiring an additional 144,462 shares during the last quarter. New York State Teachers Retirement System raised its position in Laredo Petroleum by 11.5% during the 1st quarter. New York State Teachers Retirement System now owns 13,143 shares of the oil and gas producer's stock worth $1,040,000 after purchasing an additional 1,353 shares during the last quarter. Jackson Creek Investment Advisors LLC bought a new position in Laredo Petroleum during the 1st quarter worth $1,052,000. CastleKnight Management LP bought a new position in Laredo Petroleum during the 4th quarter worth $307,000. Finally, Wilbanks Smith & Thomas Asset Management LLC bought a new position in Laredo Petroleum during the 1st quarter worth $276,000. 77.39% of the stock is currently owned by institutional investors.
About Laredo Petroleum
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Laredo Petroleum, Inc, an independent energy company, engages in the acquisition, exploration, and development of oil and natural gas properties in the Permian Basin of West Texas, the United States. The company sells oil, natural gas liquids, and natural gas. As of December 31, 2021, it had assembled 166,064 net acres in the Permian Basin; and had total proved undeveloped reserves of 86,592 thousand barrels of oil equivalent.
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