Laredo Petroleum (NYSE:LPI) PT Lowered to $85.00

Laredo Petroleum (NYSE:LPIGet Rating) had its price target lowered by stock analysts at Raymond James from $120.00 to $85.00 in a research report issued to clients and investors on Tuesday, The Fly reports. Raymond James’ price objective would suggest a potential upside of 23.74% from the company’s previous close.

A number of other research firms also recently weighed in on LPI. Piper Sandler dropped their price target on shares of Laredo Petroleum to $117.00 and set a “na” rating for the company in a research note on Wednesday, May 18th. Zacks Investment Research cut shares of Laredo Petroleum from a “buy” rating to a “hold” rating in a research report on Saturday, April 23rd. Wells Fargo & Company raised their price target on Laredo Petroleum from $113.00 to $116.00 and gave the stock an “underweight” rating in a research report on Wednesday, April 13th. Siebert Williams Shank upgraded Laredo Petroleum from a “hold” rating to a “buy” rating and upped their price objective for the company from $86.00 to $120.00 in a report on Thursday, March 3rd. Finally, TheStreet upgraded Laredo Petroleum from a “d” rating to a “c” rating in a report on Tuesday, February 22nd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, Laredo Petroleum has a consensus rating of “Hold” and a consensus price target of $106.40.

LPI stock opened at $68.69 on Tuesday. The company has a 50 day moving average price of $73.95 and a 200 day moving average price of $70.44. Laredo Petroleum has a fifty-two week low of $36.25 and a fifty-two week high of $99.26. The company has a debt-to-equity ratio of 3.36, a current ratio of 0.39 and a quick ratio of 0.45. The stock has a market capitalization of $1.19 billion, a PE ratio of 11.95 and a beta of 3.66.

Laredo Petroleum (NYSE:LPIGet Rating) last issued its quarterly earnings results on Wednesday, May 4th. The oil and gas producer reported $5.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $6.21 by ($1.04). The firm had revenue of $532.40 million for the quarter, compared to analyst estimates of $497.95 million. Laredo Petroleum had a net margin of 7.97% and a return on equity of 78.66%. The company’s revenue was up 112.8% compared to the same quarter last year. During the same period last year, the company earned $1.71 EPS. As a group, equities analysts expect that Laredo Petroleum will post 30.75 earnings per share for the current fiscal year.

In other Laredo Petroleum news, CEO M. Jason Pigott sold 5,531 shares of the stock in a transaction dated Thursday, March 31st. The stock was sold at an average price of $81.88, for a total transaction of $452,878.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Bryan Lemmerman sold 4,657 shares of the business’s stock in a transaction dated Thursday, March 10th. The shares were sold at an average price of $76.25, for a total value of $355,096.25. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 37,493 shares of company stock worth $2,872,548. Corporate insiders own 2.20% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in the stock. Nisa Investment Advisors LLC acquired a new stake in Laredo Petroleum in the fourth quarter valued at $27,000. Platinum Investment Management Ltd. bought a new position in Laredo Petroleum during the first quarter worth about $41,000. Meeder Asset Management Inc. acquired a new position in Laredo Petroleum during the first quarter worth approximately $69,000. Newbridge Financial Services Group Inc. raised its stake in Laredo Petroleum by 800.0% in the first quarter. Newbridge Financial Services Group Inc. now owns 1,125 shares of the oil and gas producer’s stock valued at $89,000 after buying an additional 1,000 shares during the period. Finally, Captrust Financial Advisors lifted its position in shares of Laredo Petroleum by 74.2% in the first quarter. Captrust Financial Advisors now owns 1,197 shares of the oil and gas producer’s stock valued at $95,000 after buying an additional 510 shares during the last quarter. 73.49% of the stock is owned by institutional investors and hedge funds.

About Laredo Petroleum (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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