Laredo Petroleum, Inc. (NYSE:LPI) Receives Consensus Recommendation of “Hold” from Analysts

Posted by on Jun 21st, 2022

Laredo Petroleum, Inc. (NYSE:LPI – Get Rating) has received a consensus rating of “Hold” from the six brokerages that are covering the stock, MarketBeat reports. One analyst has rated the stock with a sell recommendation, one has given a hold recommendation and one has issued a buy recommendation on the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $109.50.

LPI has been the subject of a number of research analyst reports. StockNews.com initiated coverage on shares of Laredo Petroleum in a research report on Thursday, March 31st. They set a “hold” rating for the company. Wells Fargo & Company raised their price target on shares of Laredo Petroleum from $113.00 to $116.00 and gave the company an “underweight” rating in a research report on Wednesday, April 13th. TheStreet raised shares of Laredo Petroleum from a “d” rating to a “c” rating in a research report on Tuesday, February 22nd. Piper Sandler decreased their price target on shares of Laredo Petroleum to $117.00 and set a “na” rating for the company in a research report on Wednesday, May 18th. Finally, Siebert Williams Shank raised shares of Laredo Petroleum from a “hold” rating to a “buy” rating and raised their price target for the company from $86.00 to $120.00 in a research report on Thursday, March 3rd.

In other news, CEO M. Jason Pigott sold 5,531 shares of the firm’s stock in a transaction on Thursday, March 31st. The shares were sold at an average price of $81.88, for a total value of $452,878.28. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Mark David Denny sold 2,626 shares of the firm’s stock in a transaction on Friday, April 1st. The shares were sold at an average price of $78.92, for a total transaction of $207,243.92. Following the completion of the sale, the senior vice president now owns 23,785 shares in the company, valued at $1,877,112.20. The disclosure for this sale can be found here. Insiders sold a total of 19,021 shares of company stock worth $1,498,767 over the last 90 days. Company insiders own 2.20% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in LPI. First Trust Advisors LP raised its stake in Laredo Petroleum by 79.2% during the 1st quarter. First Trust Advisors LP now owns 589,417 shares of the oil and gas producer’s stock worth $1,821,000 after acquiring an additional 260,525 shares in the last quarter. Wells Fargo & Company MN raised its stake in Laredo Petroleum by 1,900.6% during the 2nd quarter. Wells Fargo & Company MN now owns 13,744 shares of the oil and gas producer’s stock worth $1,275,000 after acquiring an additional 13,057 shares in the last quarter. Morgan Stanley raised its stake in Laredo Petroleum by 49.4% during the 2nd quarter. Morgan Stanley now owns 267,846 shares of the oil and gas producer’s stock worth $24,854,000 after acquiring an additional 88,591 shares in the last quarter. Franklin Resources Inc. acquired a new stake in Laredo Petroleum during the 3rd quarter worth $1,119,000. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Laredo Petroleum by 7.2% in the third quarter. Dimensional Fund Advisors LP now owns 390,739 shares of the oil and gas producer’s stock valued at $31,680,000 after buying an additional 26,160 shares during the last quarter. Institutional investors and hedge funds own 73.49% of the company’s stock.

Laredo Petroleum stock opened at $81.47 on Tuesday. The firm has a 50 day simple moving average of $80.76 and a 200-day simple moving average of $74.63. Laredo Petroleum has a 1-year low of $36.25 and a 1-year high of $120.86. The company has a debt-to-equity ratio of 3.36, a current ratio of 0.39 and a quick ratio of 0.39. The stock has a market cap of $1.41 billion, a price-to-earnings ratio of 14.17 and a beta of 3.65.

Laredo Petroleum (NYSE:LPI – Get Rating) last posted its quarterly earnings data on Wednesday, May 4th. The oil and gas producer reported $5.17 earnings per share for the quarter, missing analysts’ consensus estimates of $6.51 by ($1.34). The company had revenue of $532.40 million for the quarter, compared to analysts’ expectations of $497.95 million. Laredo Petroleum had a return on equity of 78.66% and a net margin of 7.97%. The business’s revenue for the quarter was up 112.8% on a year-over-year basis. During the same period in the previous year, the business posted $1.71 EPS. Equities analysts expect that Laredo Petroleum will post 29.54 earnings per share for the current fiscal year.

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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