Laredo Petroleum (NYSE:LPI) : The consensus on Laredo Petroleum (NYSE:LPI) based on 19 analyst recommendation on the company stock is 2.63, which is interpreted as a Hold recommendation. Zacks Investment Research has issued a rank of 2 which endorses a Buy on the stock. However, 4 brokers have a differing view as they consider the stock to be a Strong Buy at current levels. 2 analyst believes that the stock is a Buy, which can produce decent returns in the future. 11 experts consider that the stocks earnings and the quoted price is in harmony, hence, they give it a Hold rating. 1 analyst sees the stock overvalued at current levels and advises a Strong Sell on the stock. 1 analyst also believes that the downside risk to the stock is higher and suggests a Sell on Laredo Petroleum (NYSE:LPI).
Laredo Petroleum (NYSE:LPI) : 18 investment research analysts covering Laredo Petroleum (NYSE:LPI) have an average price target of $12.47 for the near short term. The highest target price given by the Brokerage Firm to the stock is $20 and the lowest target is $8 for the short term. Analysts expect the variance to be within $3.31 of the average price.
Company shares have received an average consensus rating of Hold for the current week Also, iBERIA Capital Partners upgrades its rating on Laredo Petroleum (NYSE:LPI). The global brokerage major raises the current price target from $8 per share to $14 per share. Analysts at the iBERIA Capital Partners have a current rating of Outperform on the shares. The shares were previously rated Sector Perform. The rating by the firm was issued on June 14, 2016.
Laredo Petroleum (NYSE:LPI): stock turned positive on Tuesday. Though the stock opened at $10.42, the bulls momentum made the stock top out at $10.62 level for the day. The stock recorded a low of $10.13 and closed the trading day at $10.32, in the green by 3.82%. The total traded volume for the day was 2,438,018. The stock had closed at $9.94 in the previous days trading.
In an insider trading activity, Foutch Randy A, CEO of Laredo Petroleum, Inc. had purchased 22,072 shares on February 19, 2016 in a transaction. The price per share was $4.52 and the total amount of the disclosed transaction was $99,765.The Insider information was disclosed with the Securities and Exchange Commission in a Form 4 filing. This information is based on open market transaction at the market prices.
Laredo Petroleum, Inc. (Laredo) is an independent energy company, focused on the acquisition, exploration and development of oil and natural gas properties primarily in the Permian Basin in West Texas. The Companys Permian Basin is comprised of several distinct geological provinces, including the Midland Basin to the east, the Delaware Basin to the west and the Central Platform in the middle. The Permian Basin is located in West Texas and Southeastern New Mexico, where the Company has assembled approximately 196,683 net acres. Its primary production and exploitation fairway (Permian-Garden City area) is located on the eastern side of the basin 35 miles east of Midland, Texas, and extends 20 miles wide (east/west) and 85 miles long (north/south) in Howard, Glasscock, Reagan, Sterling, Irion and Tom Green counties. It holds approximately 155,405 net acres in 360 sections in the Permian-Garden City area.