Barclays Maintains Laredo Petroleum Inc to Overweight with Price Target $15.00

Brokerage firm Barclays Maintains its rating on Laredo Petroleum Inc(NYSE:LPI). In a research note issued to the investors, the brokerage major Raises the price-target to $15.00 per share. The shares have been rated Overweight. The rating by Barclays was issued on Aug 5, 2016.

In a different note, On Jun 14, 2016, iBERIA Capital Partners said it Upgrades its rating on Laredo Petroleum Inc. In the research note, the firm Raises the price-target to $8.00 per share. The shares have been rated ‘Outperform’ by the firm. Imperial Capital said it Initiates Coverage on Laredo Petroleum Inc, according to a research note issued on May 26, 2016. The shares have been rated ‘In-line’ by the firm. On May 13, 2016, JP Morgan said it Upgrades its rating on Laredo Petroleum Inc. In the research note, the firm Raises the price-target to $9.00 per share. The shares have been rated ‘Neutral’ by the firm.

Laredo Petroleum Inc (LPI) made into the market gainers list on Wednesdays trading session with the shares advancing 1.86% or 0.22 points. Due to strong positive momentum, the stock ended at $12.06, which is also near the day’s high of $12.1. The stock began the session at $11.75 and the volume stood at 26,81,042 shares. The 52-week high of the shares is $14.19 and the 52 week low is $3.9. The company has a current market capitalization of $2,896 M and it has 24,01,24,870 shares in outstanding.

Laredo Petroleum Inc(LPI) last announced its earnings results on Aug 3, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $146.77M. Analysts had an estimated revenue of $138.30M. Earnings per share were $0.13. Analysts had estimated an EPS of $0.10.

Several Insider Transactions has been reported to the SEC. On Apr 4, 2016, Randy A Foutch (CEO) purchased 22,072 shares at $4.52 per share price.Also, On May 12, 2015, Patrick J Curth (Sr. VP – Exploration & Land) sold 15,200 shares at $13.47 per share price.

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 Company’s 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 196683 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 155405 net acres in 360 sections in the Permian-Garden City area.

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