Laredo Petroleum, Inc. (NYSE:LPI – Get Rating) has received a consensus rating of "Hold" from the seven research firms that are presently covering the stock, MarketBeat.com reports. Two research analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation and two have given a buy recommendation to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $89.80.
A number of equities research analysts have recently issued reports on LPI shares. JPMorgan Chase & Co. cut shares of Laredo Petroleum from a "neutral" rating to an "underweight" rating and set a $69.00 target price for the company. in a research report on Monday, December 5th. Piper Sandler upped their price objective on shares of Laredo Petroleum from $71.00 to $72.00 and gave the stock a "neutral" rating in a research report on Thursday, November 17th. Raymond James cut their price objective on shares of Laredo Petroleum from $75.00 to $63.00 and set an "outperform" rating for the company in a research report on Monday, December 12th. Finally, StockNews.com initiated coverage on shares of Laredo Petroleum in a research report on Wednesday, October 12th. They set a "hold" rating for the company.
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Insiders Place Their Bets
In other Laredo Petroleum news, CEO M. Jason Pigott sold 3,750 shares of the business's stock in a transaction dated Tuesday, January 3rd. The stock was sold at an average price of $50.40, for a total transaction of $189,000.00. Following the completion of the transaction, the chief executive officer now owns 99,407 shares of the company's stock, valued at $5,010,112.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Over the last 90 days, insiders sold 11,250 shares of company stock valued at $678,825. 2.20% of the stock is currently owned by corporate insiders.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently made changes to their positions in LPI. Denali Advisors LLC acquired a new position in shares of Laredo Petroleum in the second quarter valued at approximately $28,000. Nisa Investment Advisors LLC increased its stake in shares of Laredo Petroleum by 57.5% in the second quarter. Nisa Investment Advisors LLC now owns 630 shares of the oil and gas producer's stock valued at $43,000 after buying an additional 230 shares during the period. CENTRAL TRUST Co acquired a new position in shares of Laredo Petroleum in the third quarter valued at approximately $47,000. KBC Group NV acquired a new position in shares of Laredo Petroleum in the second quarter valued at approximately $90,000. Finally, Captrust Financial Advisors increased its stake in shares of Laredo Petroleum by 74.2% in the first quarter. Captrust Financial Advisors now owns 1,197 shares of the oil and gas producer's stock valued at $95,000 after buying an additional 510 shares during the period. Institutional investors and hedge funds own 81.46% of the company's stock.
Laredo Petroleum Trading Up 1.1 %
Shares of Laredo Petroleum stock opened at $48.09 on Friday. The firm has a 50-day moving average of $57.93 and a 200-day moving average of $66.35. The stock has a market cap of $808.59 million, a PE ratio of 1.11 and a beta of 3.31. Laredo Petroleum has a 52-week low of $46.61 and a 52-week high of $120.86. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.47 and a current ratio of 0.47.
Laredo Petroleum (NYSE:LPI – Get Rating) last announced its earnings results on Thursday, November 3rd. The oil and gas producer reported $5.30 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $6.53 by ($1.23). The business had revenue of $464.11 million during the quarter, compared to the consensus estimate of $350.79 million. Laredo Petroleum had a net margin of 35.99% and a return on equity of 55.37%. As a group, sell-side analysts forecast that Laredo Petroleum will post 21.99 EPS for the current year.
About Laredo Petroleum
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Laredo Petroleum, Inc engages in the exploration, development and acquisition of oil and natural gas properties. It operates in the Permian Basin in West Texas. The company was founded by Randy A. Foutch in October 2006 and is headquartered in Tulsa, OK.
Further Reading
- Get a free copy of the StockNews.com research report on Laredo Petroleum (LPI)
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