Laredo Petroleum’s (LPI) Buy Rating Reaffirmed at Barclays PLC

Barclays PLC reaffirmed their buy rating on shares of Laredo Petroleum Inc (NYSE:LPI) in a research note issued to investors on Thursday. The firm currently has a $18.00 price target on the oil and gas producer’s stock.

LPI has been the subject of a number of other reports. Seaport Global Securities raised shares of Laredo Petroleum from a neutral rating to a buy rating in a report on Friday, March 31st. KLR Group raised shares of Laredo Petroleum from an accumulate rating to a buy rating and set a $17.00 target price for the company in a report on Friday, January 20th. Zacks Investment Research cut shares of Laredo Petroleum from a buy rating to a hold rating and set a $16.00 target price for the company. in a report on Tuesday, February 28th. FBR & Co reduced their target price on shares of Laredo Petroleum from $17.00 to $16.00 and set an outperform rating for the company in a report on Wednesday, February 15th. Finally, SunTrust Banks, Inc. raised shares of Laredo Petroleum from a hold rating to a buy rating in a report on Friday, January 20th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and fourteen have assigned a buy rating to the company’s stock. The stock has an average rating of Buy and a consensus price target of $14.71.

Laredo Petroleum (NYSE:LPI) traded down 0.193% during midday trading on Thursday, hitting $12.905. 2,018,062 shares of the company were exchanged. The firm’s market capitalization is $3.07 billion. The stock has a 50 day moving average of $13.80 and a 200 day moving average of $13.86. Laredo Petroleum has a 1-year low of $9.20 and a 1-year high of $16.47.



Laredo Petroleum (NYSE:LPI) last announced its earnings results on Wednesday, February 15th. The oil and gas producer reported $0.16 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.16. Laredo Petroleum had a negative net margin of 225.04% and a positive return on equity of 123.07%. The business earned $184.31 million during the quarter, compared to analysts’ expectations of $159.83 million. On average, equities analysts predict that Laredo Petroleum will post $0.57 earnings per share for the current fiscal year.

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In related news, Director Peter Kagan sold 163,207 shares of the company’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 owns 68,006 shares in the company, valued at $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 company’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 owns 232,386 shares of the company’s stock, valued at approximately $3,348,682.26. The disclosure for this sale can be found here. Corporate insiders own 1.50% of the company’s stock.

Several institutional investors have recently modified their holdings of LPI. James Investment Research Inc. bought a new position in shares of Laredo Petroleum during the first quarter worth $149,000. Alambic Investment Management L.P. bought a new position in shares of Laredo Petroleum during the third quarter worth $141,000. TradeLink Capital LLC bought a new position in shares of Laredo Petroleum during the third quarter worth $156,000. Gideon Capital Advisors Inc. bought a new position in shares of Laredo Petroleum during the fourth quarter worth $179,000. Finally, TLP Group LLC bought a new position in shares of Laredo Petroleum during the third quarter worth $187,000.

Laredo Petroleum Company Profile

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.

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