Seaport Global Securities reissued their neutral rating on shares of Laredo Petroleum, Inc. (NYSE:LPI) in a research note issued to investors on Monday. Seaport Global Securities currently has a $9.50 target price on the oil and gas producer’s stock, down from their previous target price of $10.00. Seaport Global Securities also issued estimates for Laredo Petroleum’s Q3 2017 earnings at $0.14 EPS, Q4 2017 earnings at $0.14 EPS, FY2017 earnings at $0.48 EPS, Q1 2018 earnings at $0.07 EPS, Q2 2018 earnings at $0.08 EPS, Q3 2018 earnings at $0.11 EPS, Q4 2018 earnings at $0.11 EPS and FY2018 earnings at $0.38 EPS.
Other equities analysts also recently issued reports about the stock. Scotiabank set a $13.00 price target on shares of Laredo Petroleum and gave the stock a hold rating in a research note on Saturday, July 1st. BidaskClub raised shares of Laredo Petroleum from a sell rating to a hold rating in a research note on Wednesday, July 12th. BMO Capital Markets set a $14.00 price target on shares of Laredo Petroleum and gave the stock a hold rating in a research note on Sunday, August 13th. Zacks Investment Research downgraded shares of Laredo Petroleum from a hold rating to a sell rating in a research note on Thursday, August 10th. Finally, Bank of America Corporation upped their price target on shares of Laredo Petroleum from $11.00 to $13.00 and gave the stock an underperform rating in a research note on Tuesday, August 8th. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and eight have assigned a buy rating to the company. The stock has an average rating of Hold and a consensus target price of $14.68.
Shares of Laredo Petroleum (NYSE:LPI) traded down 2.42% on Monday, reaching $12.49. The company had a trading volume of 520,699 shares. Laredo Petroleum has a 52-week low of $9.57 and a 52-week high of $16.47. The stock has a market capitalization of $2.99 billion, a PE ratio of 25.23 and a beta of 1.45. The company has a 50 day moving average price of $12.47 and a 200 day moving average price of $12.30.
Laredo Petroleum (NYSE:LPI) last posted its quarterly earnings results on Monday, August 7th. The oil and gas producer reported $0.10 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.11 by ($0.01). Laredo Petroleum had a return on equity of 49.15% and a net margin of 16.73%. The company had revenue of $187.00 million during the quarter, compared to analyst estimates of $173.32 million. During the same period last year, the company posted $0.13 earnings per share. The company’s revenue was up 27.5% compared to the same quarter last year. On average, equities research analysts anticipate that Laredo Petroleum will post $0.63 earnings per share for the current year.
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A number of hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its holdings in Laredo Petroleum by 7.9% during the second quarter. Vanguard Group Inc. now owns 16,083,332 shares of the oil and gas producer’s stock valued at $169,197,000 after acquiring an additional 1,176,608 shares during the period. BlackRock Inc. boosted its holdings in Laredo Petroleum by 2,500.3% during the first quarter. BlackRock Inc. now owns 7,598,973 shares of the oil and gas producer’s stock valued at $110,946,000 after acquiring an additional 7,306,738 shares during the period. State Street Corp boosted its holdings in Laredo Petroleum by 15.9% during the second quarter. State Street Corp now owns 5,810,244 shares of the oil and gas producer’s stock valued at $61,121,000 after acquiring an additional 799,073 shares during the period. Wellington Management Group LLP boosted its holdings in Laredo Petroleum by 25.2% during the first quarter. Wellington Management Group LLP now owns 4,311,310 shares of the oil and gas producer’s stock valued at $62,944,000 after acquiring an additional 869,100 shares during the period. Finally, Point72 Asset Management L.P. boosted its holdings in Laredo Petroleum by 150.2% during the first quarter. Point72 Asset Management L.P. now owns 3,748,400 shares of the oil and gas producer’s stock valued at $54,727,000 after acquiring an additional 2,250,300 shares during the period.
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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