Laredo Petroleum (LPI) Rating Lowered to Sell at ValuEngine

ValuEngine downgraded shares of Laredo Petroleum (NYSE:LPI) from a hold rating to a sell rating in a report published on Monday.

Several other brokerages also recently issued reports on LPI. Williams Capital reaffirmed a hold rating and issued a $13.00 price target on shares of Laredo Petroleum in a research report on Thursday, January 25th. Zacks Investment Research raised Laredo Petroleum from a hold rating to a buy rating and set a $13.00 price target on the stock in a research report on Wednesday, January 24th. BMO Capital Markets reaffirmed a hold rating and issued a $12.00 price target on shares of Laredo Petroleum in a research report on Thursday, January 11th. National Securities initiated coverage on Laredo Petroleum in a research report on Tuesday, January 16th. They issued a buy rating on the stock. Finally, Piper Jaffray reiterated a buy rating and issued a $16.00 target price on shares of Laredo Petroleum in a research note on Tuesday, January 9th. Three analysts have rated the stock with a sell rating, eleven have given a hold rating and six have assigned a buy rating to the stock. The company presently has an average rating of Hold and an average target price of $12.56.

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Shares of NYSE:LPI opened at $8.80 on Monday. The stock has a market capitalization of $2,054.27, a PE ratio of 16.29, a price-to-earnings-growth ratio of 1.67 and a beta of 1.22. Laredo Petroleum has a 52-week low of $7.41 and a 52-week high of $15.11. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.85 and a current ratio of 0.85.

Laredo Petroleum (NYSE:LPI) last issued its quarterly earnings results on Wednesday, February 14th. The oil and gas producer reported $0.19 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.18 by $0.01. The company had revenue of $240.34 million for the quarter, compared to the consensus estimate of $212.57 million. Laredo Petroleum had a return on equity of 30.02% and a net margin of 66.77%. The firm’s revenue was up 30.4% compared to the same quarter last year. During the same period last year, the business posted $0.16 earnings per share. sell-side analysts predict that Laredo Petroleum will post 1.01 earnings per share for the current year.

Laredo Petroleum declared that its Board of Directors has approved a share repurchase program on Wednesday, February 14th that allows the company to buyback $200.00 million in shares. This buyback authorization allows the oil and gas producer to buy shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Schwab Charles Investment Management Inc. lifted its stake in Laredo Petroleum by 1.4% during the third quarter. Schwab Charles Investment Management Inc. now owns 417,249 shares of the oil and gas producer’s stock worth $5,396,000 after purchasing an additional 5,946 shares during the period. Great West Life Assurance Co. Can lifted its stake in Laredo Petroleum by 49.6% during the third quarter. Great West Life Assurance Co. Can now owns 21,632 shares of the oil and gas producer’s stock worth $280,000 after purchasing an additional 7,174 shares during the period. Wells Fargo & Company MN lifted its stake in Laredo Petroleum by 2.6% during the fourth quarter. Wells Fargo & Company MN now owns 304,856 shares of the oil and gas producer’s stock worth $3,234,000 after purchasing an additional 7,683 shares during the period. Legal & General Group Plc lifted its stake in Laredo Petroleum by 18.4% during the third quarter. Legal & General Group Plc now owns 62,768 shares of the oil and gas producer’s stock worth $812,000 after purchasing an additional 9,754 shares during the period. Finally, California Public Employees Retirement System lifted its stake in Laredo Petroleum by 1.7% during the third quarter. California Public Employees Retirement System now owns 624,010 shares of the oil and gas producer’s stock worth $8,068,000 after purchasing an additional 10,610 shares during the period.

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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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Laredo Petroleum (NYSE:LPI)

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