Laredo Petroleum Inc (NYSE:LPI)’s share price hit a new 52-week low during trading on Monday . The company traded as low as $5.89 and last traded at $5.93, with a volume of 1607702 shares traded. The stock had previously closed at $6.05.
LPI has been the topic of a number of analyst reports. Piper Jaffray Companies set a $14.00 price target on Laredo Petroleum and gave the stock a “buy” rating in a research note on Sunday, August 5th. Bank of America decreased their price target on Laredo Petroleum from $12.00 to $11.00 and set an “underperform” rating on the stock in a research note on Thursday, August 2nd. Finally, Williams Capital reaffirmed a “hold” rating and issued a $10.00 price target on shares of Laredo Petroleum in a research note on Tuesday, August 21st. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $12.43.
The stock has a market capitalization of $1.42 billion, a price-to-earnings ratio of 10.07, a P/E/G ratio of 1.09 and a beta of 1.21. The company has a debt-to-equity ratio of 0.94, a current ratio of 0.60 and a quick ratio of 0.60.
Laredo Petroleum (NYSE:LPI) last issued its quarterly earnings data on Wednesday, August 1st. The oil and gas producer reported $0.25 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.29 by ($0.04). The business had revenue of $351.05 million during the quarter, compared to the consensus estimate of $225.75 million. Laredo Petroleum had a return on equity of 25.80% and a net margin of 51.05%. Laredo Petroleum’s quarterly revenue was up 87.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.10 earnings per share. As a group, equities analysts expect that Laredo Petroleum Inc will post 1.11 EPS for the current year.
In related news, Director Peter Kagan sold 12,300,000 shares of Laredo Petroleum stock in a transaction that occurred on Thursday, September 27th. The stock was sold at an average price of $8.08, for a total transaction of $99,384,000.00. Following the sale, the director now directly owns 115,107 shares in the company, valued at $930,064.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Pincus Private Equity Warburg sold 14,200,000 shares of Laredo Petroleum stock in a transaction that occurred on Tuesday, September 11th. The shares were sold at an average price of $7.42, for a total value of $105,364,000.00. The disclosure for this sale can be found here. 2.20% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in LPI. Martingale Asset Management L P bought a new stake in shares of Laredo Petroleum during the second quarter valued at approximately $100,000. Creative Planning bought a new stake in shares of Laredo Petroleum during the second quarter valued at approximately $108,000. First Hawaiian Bank bought a new stake in shares of Laredo Petroleum during the third quarter valued at approximately $120,000. Point72 Hong Kong Ltd bought a new stake in Laredo Petroleum in the second quarter worth $155,000. Finally, Cim Investment Mangement Inc. bought a new stake in Laredo Petroleum in the second quarter worth $234,000.
Laredo Petroleum Company Profile (NYSE:LPI)
Laredo Petroleum, Inc operates as an independent energy company in the United States. It operates through two segments, Exploration and Production; and Midstream and Marketing. The company engages in the acquisition, exploration, and development of oil and natural gas properties; and the transportation of oil and natural gas primarily in the Permian Basin in West Texas, as well as rig fuel, natural gas lift, and water delivery and takeaway services.
Receive News & Ratings for Laredo Petroleum Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Laredo Petroleum and related companies with MarketBeat.com's FREE daily email newsletter.