KeyCorp Reaffirms “Hold” Rating for Laredo Petroleum (NYSE:LPI)

KeyCorp reaffirmed their hold rating on shares of Laredo Petroleum (NYSE:LPI) in a research report released on Friday, November 10th.

LPI has been the subject of a number of other research reports. BMO Capital Markets set a $14.00 target price on shares of Laredo Petroleum and gave the stock a hold rating in a report on Sunday, August 13th. Zacks Investment Research lowered shares of Laredo Petroleum from a hold rating to a sell rating in a report on Tuesday, July 18th. Cowen reaffirmed a hold rating and set a $12.00 target price on shares of Laredo Petroleum in a report on Sunday, September 17th. Bank of America assumed coverage on shares of Laredo Petroleum in a report on Wednesday, July 19th. They issued an underperform rating and a $11.00 price target for the company. Finally, Seaport Global Securities reissued a neutral rating and issued a $9.50 price target (down previously from $10.00) on shares of Laredo Petroleum in a report on Monday, October 9th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eight have issued a buy rating to the company’s stock. Laredo Petroleum currently has an average rating of Hold and an average target price of $14.27.

Laredo Petroleum (NYSE LPI) traded up $0.26 during mid-day trading on Friday, reaching $10.17. 2,921,300 shares of the company traded hands, compared to its average volume of 3,636,031. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 4.16. Laredo Petroleum has a 1 year low of $9.55 and a 1 year high of $16.47. The company has a market cap of $2,400.00, a PE ratio of 20.86, a PEG ratio of 4.09 and a beta of 1.39.

Laredo Petroleum (NYSE:LPI) last posted its quarterly earnings data 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). Laredo Petroleum had a return on equity of 43.77% and a net margin of 15.92%. The company had revenue of $205.82 million during the quarter, compared to the consensus estimate of $178.48 million. During the same quarter last year, the firm earned $0.12 EPS. The business’s revenue for the quarter was up 28.9% on a year-over-year basis. equities research analysts anticipate that Laredo Petroleum will post 0.5 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. California Public Employees Retirement System boosted its stake in Laredo Petroleum by 1.7% in the 3rd 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. Allianz Asset Management GmbH lifted its position in Laredo Petroleum by 34.3% during the 3rd quarter. Allianz Asset Management GmbH now owns 795,136 shares of the oil and gas producer’s stock worth $10,281,000 after buying an additional 203,010 shares in the last quarter. Impala Asset Management LLC lifted its position in Laredo Petroleum by 11.4% during the 3rd quarter. Impala Asset Management LLC now owns 2,693,685 shares of the oil and gas producer’s stock worth $34,829,000 after buying an additional 276,371 shares in the last quarter. WS Management Lllp lifted its position in 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 buying an additional 2,000,000 shares in the last quarter. Finally, OxFORD Asset Management LLP bought a new stake in Laredo Petroleum during the 3rd quarter worth about $1,859,000.

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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.

Analyst Recommendations for Laredo Petroleum (NYSE:LPI)

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