Laredo Petroleum (NYSE:LPI) Stock Rating Reaffirmed by Williams Capital

Williams Capital reaffirmed their buy rating on shares of Laredo Petroleum (NYSE:LPI) in a research report sent to investors on Tuesday morning, AnalystRatings.com reports. Williams Capital currently has a $4.50 price objective on the oil and gas producer’s stock.

Several other equities research analysts have also weighed in on the company. Zacks Investment Research lowered Laredo Petroleum from a buy rating to a hold rating in a research report on Wednesday, October 16th. ValuEngine raised Laredo Petroleum from a strong sell rating to a sell rating in a research report on Tuesday, December 3rd. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the stock. The stock has a consensus rating of Hold and an average target price of $4.68.

Shares of NYSE LPI opened at $2.79 on Tuesday. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.54 and a current ratio of 1.54. Laredo Petroleum has a fifty-two week low of $2.03 and a fifty-two week high of $4.30. The firm has a market capitalization of $616.55 million, a PE ratio of 3.00 and a beta of 1.70. The stock’s 50-day simple moving average is $2.38 and its 200-day simple moving average is $2.59.

Laredo Petroleum (NYSE:LPI) last issued its earnings results on Tuesday, November 5th. The oil and gas producer reported $0.21 earnings per share for the quarter, topping the consensus estimate of $0.19 by $0.02. Laredo Petroleum had a return on equity of 14.25% and a net margin of 5.87%. The business had revenue of $193.57 million for the quarter, compared to analyst estimates of $215.83 million. During the same quarter last year, the company earned $0.27 EPS. On average, sell-side analysts forecast that Laredo Petroleum will post 0.78 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in LPI. First Trust Advisors LP increased its position in Laredo Petroleum by 79.2% during the first quarter. First Trust Advisors LP now owns 589,417 shares of the oil and gas producer’s stock worth $1,821,000 after buying an additional 260,525 shares during the period. Arizona State Retirement System grew its stake in shares of Laredo Petroleum by 1.7% in the 2nd quarter. Arizona State Retirement System now owns 238,516 shares of the oil and gas producer’s stock valued at $692,000 after purchasing an additional 3,957 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. purchased a new position in shares of Laredo Petroleum in the 2nd quarter valued at approximately $603,000. Aperio Group LLC grew its stake in shares of Laredo Petroleum by 53.1% in the 2nd quarter. Aperio Group LLC now owns 270,113 shares of the oil and gas producer’s stock valued at $783,000 after purchasing an additional 93,693 shares during the last quarter. Finally, Municipal Employees Retirement System of Michigan grew its stake in shares of Laredo Petroleum by 25.3% in the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 72,900 shares of the oil and gas producer’s stock valued at $211,000 after purchasing an additional 14,730 shares during the last quarter. 96.77% of the stock is currently owned by institutional investors.

About Laredo Petroleum

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 also provides midstream and marketing services comprising transportation and marketing of oil and natural gas; and natural gas lift systems, crude oil and natural gas gathering, and water delivery and takeaway services.

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Analyst Recommendations for Laredo Petroleum (NYSE:LPI)

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