Laredo Petroleum (NYSE:LPI) Shares Gap Up to $1.81

Laredo Petroleum Inc (NYSE:LPI) gapped up before the market opened on Tuesday . The stock had previously closed at $1.77, but opened at $1.81. Laredo Petroleum shares last traded at $1.85, with a volume of 7,852,980 shares.

Several equities analysts have weighed in on LPI shares. Stifel Nicolaus lifted their price target on shares of Laredo Petroleum from $5.50 to $5.60 and gave the company a “buy” rating in a report on Tuesday, December 10th. Goldman Sachs Group lowered shares of Laredo Petroleum from a “neutral” rating to a “sell” rating and dropped their price target for the stock from $2.50 to $2.00 in a research report on Tuesday, December 17th. ValuEngine raised shares of Laredo Petroleum from a “sell” rating to a “hold” rating in a research note on Friday, January 3rd. Williams Capital restated a “buy” rating and set a $4.50 price objective on shares of Laredo Petroleum in a research report on Tuesday, December 10th. Finally, Siebert Williams Shank cut shares of Laredo Petroleum from a “buy” rating to a “hold” rating and lowered their target price for the company from $4.50 to $2.50 in a research note on Monday. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and three have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $4.09.

The company has a current ratio of 1.54, a quick ratio of 1.54 and a debt-to-equity ratio of 0.92. The firm has a market capitalization of $437.51 million, a P/E ratio of 8.41 and a beta of 1.79. The company has a 50 day simple moving average of $2.61 and a two-hundred day simple moving average of $2.56.

Laredo Petroleum (NYSE:LPI) last announced its quarterly earnings data on Tuesday, November 5th. The oil and gas producer reported $0.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.19 by $0.02. Laredo Petroleum had a net margin of 5.87% and a return on equity of 14.25%. The business had revenue of $193.57 million during the quarter, compared to analyst estimates of $215.83 million. During the same period last year, the firm posted $0.27 EPS. On average, sell-side analysts expect that Laredo Petroleum Inc will post 0.78 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. SG Americas Securities LLC boosted its position in Laredo Petroleum by 123.5% in the fourth quarter. SG Americas Securities LLC now owns 62,214 shares of the oil and gas producer’s stock valued at $179,000 after buying an additional 34,375 shares during the last quarter. First Quadrant L P CA lifted its stake in Laredo Petroleum by 44.9% during the 4th quarter. First Quadrant L P CA now owns 114,194 shares of the oil and gas producer’s stock valued at $328,000 after acquiring an additional 35,367 shares during the period. Magnus Financial Group LLC purchased a new stake in shares of Laredo Petroleum in the 4th quarter valued at $177,000. California Public Employees Retirement System boosted its holdings in shares of Laredo Petroleum by 17.0% in the 4th quarter. California Public Employees Retirement System now owns 328,507 shares of the oil and gas producer’s stock valued at $943,000 after acquiring an additional 47,700 shares during the last quarter. Finally, Caymus Capital Partners L.P. boosted its holdings in shares of Laredo Petroleum by 145.6% in the 4th quarter. Caymus Capital Partners L.P. now owns 3,218,300 shares of the oil and gas producer’s stock valued at $9,237,000 after acquiring an additional 1,908,169 shares during the last quarter. 97.57% of the stock is owned by institutional investors.

Laredo Petroleum Company Profile (NYSE:LPI)

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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