Laredo Petroleum (NYSE:LPI) PT Lowered to $117.00

Laredo Petroleum (NYSE:LPIGet Rating) had its target price dropped by Piper Sandler to $117.00 in a research report issued on Wednesday, Stock Target Advisor reports. The firm currently has a “na” rating on the oil and gas producer’s stock. Piper Sandler’s target price would suggest a potential upside of 95.36% from the company’s previous close.

Other equities analysts have also recently issued reports about the stock. StockNews.com assumed coverage on shares of Laredo Petroleum in a research report on Thursday, March 31st. They set a “hold” rating on the stock. Siebert Williams Shank raised shares of Laredo Petroleum from a “hold” rating to a “buy” rating and lifted their price target for the stock from $86.00 to $120.00 in a research report on Thursday, March 3rd. Zacks Investment Research cut shares of Laredo Petroleum from a “buy” rating to a “hold” rating in a research report on Saturday, April 23rd. TheStreet raised shares of Laredo Petroleum from a “d” rating to a “c” rating in a research report on Tuesday, February 22nd. Finally, Raymond James boosted their price objective on shares of Laredo Petroleum from $100.00 to $120.00 and gave the company an “outperform” rating in a research report on Monday, April 25th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, Laredo Petroleum has an average rating of “Hold” and an average target price of $113.40.

LPI stock traded down $3.69 during midday trading on Wednesday, reaching $59.89. The company’s stock had a trading volume of 12,234 shares, compared to its average volume of 811,601. Laredo Petroleum has a 52 week low of $36.25 and a 52 week high of $99.26. The stock has a market cap of $1.04 billion, a PE ratio of 10.38 and a beta of 3.66. The company has a quick ratio of 0.45, a current ratio of 0.39 and a debt-to-equity ratio of 3.36. The business’s 50-day simple moving average is $74.55 and its 200-day simple moving average is $70.71.

Laredo Petroleum (NYSE:LPIGet Rating) last announced its quarterly earnings results on Wednesday, May 4th. The oil and gas producer reported $5.17 earnings per share for the quarter, missing analysts’ consensus estimates of $6.21 by ($1.04). The firm had revenue of $532.40 million for the quarter, compared to the consensus estimate of $497.95 million. Laredo Petroleum had a return on equity of 78.66% and a net margin of 7.97%. The company’s revenue for the quarter was up 112.8% compared to the same quarter last year. During the same period in the prior year, the business earned $1.71 earnings per share. As a group, equities analysts forecast that Laredo Petroleum will post 31.61 earnings per share for the current fiscal year.

In other Laredo Petroleum news, SVP Mark David Denny sold 2,626 shares of Laredo Petroleum stock in a transaction on Monday, May 2nd. The shares were sold at an average price of $69.70, for a total value of $183,032.20. Following the sale, the senior vice president now directly owns 21,159 shares in the company, valued at approximately $1,474,782.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Tommye Karen Chandler sold 10,991 shares of Laredo Petroleum stock in a transaction on Thursday, March 10th. The shares were sold at an average price of $76.23, for a total transaction of $837,843.93. The disclosure for this sale can be found here. Insiders sold a total of 37,493 shares of company stock worth $2,872,548 over the last ninety days. 2.20% of the stock is currently owned by insiders.

Institutional investors have recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC acquired a new position in shares of Laredo Petroleum during the 4th quarter worth about $27,000. Platinum Investment Management Ltd. acquired a new position in shares of Laredo Petroleum during the 1st quarter worth about $41,000. Meeder Asset Management Inc. acquired a new position in shares of Laredo Petroleum during the 1st quarter worth about $69,000. Newbridge Financial Services Group Inc. increased its stake in shares of Laredo Petroleum by 800.0% during the 1st quarter. Newbridge Financial Services Group Inc. now owns 1,125 shares of the oil and gas producer’s stock worth $89,000 after purchasing an additional 1,000 shares during the last quarter. Finally, Captrust Financial Advisors increased its stake in shares of Laredo Petroleum by 74.2% during the 1st quarter. Captrust Financial Advisors now owns 1,197 shares of the oil and gas producer’s stock worth $95,000 after purchasing an additional 510 shares during the last quarter. Institutional investors own 73.49% of the company’s stock.

Laredo Petroleum Company Profile (Get Rating)

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 sells oil, natural gas liquids, and natural gas. As of December 31, 2021, it had assembled 166,064 net acres in the Permian Basin; and had total proved undeveloped reserves of 86,592 thousand barrels of oil equivalent.

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