National Securities Initiates Coverage on Laredo Petroleum (LPI)

National Securities began coverage on shares of Laredo Petroleum (NYSE:LPI) in a research note released on Tuesday, The Fly reports. The firm issued a buy rating on the oil and gas producer’s stock.

Other equities analysts have also recently issued research reports about the company. Stifel Nicolaus restated a buy rating and set a $17.00 price target on shares of Laredo Petroleum in a report on Wednesday, October 4th. Zacks Investment Research upgraded Laredo Petroleum from a hold rating to a buy rating and set a $14.00 price target for the company in a report on Tuesday, October 17th. Piper Jaffray Companies reaffirmed a buy rating and issued a $15.00 price objective on shares of Laredo Petroleum in a research note on Wednesday, November 22nd. Barclays reaffirmed a buy rating on shares of Laredo Petroleum in a research note on Thursday, November 23rd. Finally, Scotiabank set a $14.00 price objective on Laredo Petroleum and gave the company a hold rating in a research note on Wednesday, November 22nd. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and nine have assigned a buy rating to the stock. The stock currently has an average rating of Hold and an average price target of $13.91.

Laredo Petroleum (NYSE LPI) traded down $0.15 during midday trading on Tuesday, reaching $10.92. The company’s stock had a trading volume of 2,700,700 shares, compared to its average volume of 2,335,920. The stock has a market cap of $2,690.00, a PE ratio of 21.84, a PEG ratio of 2.53 and a beta of 1.32. The company has a debt-to-equity ratio of 4.16, a current ratio of 0.64 and a quick ratio of 0.64. Laredo Petroleum has a fifty-two week low of $9.46 and a fifty-two week high of $15.15.

Laredo Petroleum (NYSE:LPI) last released its quarterly earnings results on Wednesday, November 1st. The oil and gas producer reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.14 by ($0.01). The firm had revenue of $205.82 million for the quarter, compared to analysts’ expectations of $178.48 million. Laredo Petroleum had a net margin of 15.92% and a return on equity of 43.77%. The business’s quarterly revenue was up 28.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.12 EPS. equities analysts predict that Laredo Petroleum will post 0.52 EPS for the current fiscal year.

Several hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. lifted its stake in shares of Laredo Petroleum by 7.9% during the 2nd quarter. Vanguard Group Inc. now owns 16,083,332 shares of the oil and gas producer’s stock worth $169,197,000 after acquiring an additional 1,176,608 shares during the last quarter. WS Management Lllp lifted its stake in shares of Laredo Petroleum by 50.8% during the 3rd quarter. WS Management Lllp now owns 5,934,700 shares of the oil and gas producer’s stock worth $76,736,000 after acquiring an additional 2,000,000 shares during the last quarter. State Street Corp lifted its stake in shares of Laredo Petroleum by 15.9% during the 2nd quarter. State Street Corp now owns 5,810,244 shares of the oil and gas producer’s stock worth $61,121,000 after acquiring an additional 799,073 shares during the last quarter. Van ECK Associates Corp lifted its stake in shares of Laredo Petroleum by 1.8% during the 3rd quarter. Van ECK Associates Corp now owns 4,045,680 shares of the oil and gas producer’s stock worth $52,311,000 after acquiring an additional 71,104 shares during the last quarter. Finally, Vaughan Nelson Investment Management L.P. lifted its stake in shares of Laredo Petroleum by 36.8% during the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 3,886,100 shares of the oil and gas producer’s stock worth $50,247,000 after acquiring an additional 1,044,525 shares during the last quarter.

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About Laredo Petroleum

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.

The Fly

Analyst Recommendations for Laredo Petroleum (NYSE:LPI)

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