Laredo Petroleum (LPI) : Zacks Investment Research ranks Laredo Petroleum (LPI) as 3, which is a Hold recommendation. 5 research analysts consider that the stocks fundamentals point to a bright future, hence they rate the stock as a Strong Buy. 2 other analysts are mildly bullish on the stock and favor a Buy. Not everyone is convinced about the stocks future, hence, the stock receives 1 Sell recommendation. A total of 10 analysts believe that the stock has a limited upside, hence they advise a Hold. The average broker rating of 18 research analysts is 2.39, which indicates as a Buy.
Laredo Petroleum (LPI) : The highest level Laredo Petroleum (LPI) is projected to reach is $20 for the short term and the lowest estimate is at $8. The consolidated price target from 18 rating analysts who initiate coverage on the stock is $13.03 and the possibility the share price can swing is $3.12.
Company shares have received an average consensus rating of Hold for the current week Also, Equity analysts at the Brokerage firm Seaport Global upgrades its rating on Laredo Petroleum (NYSE:LPI). The rating major has initiated the coverage with neutral rating on the shares. Earlier, the shares were rated a Sell by the brokerage firm. The rating by the firm was issued on August 30, 2016.
Laredo Petroleum (NYSE:LPI): The stock opened at $12.79 and touched an intraday high of $13.02 on Wednesday. During the day, the stock corrected to an intraday low of $12.57, however, the bulls stepped in and pushed the price higher to close in the green at $12.86 with a gain of 1.34% for the day. The total traded volume for the day was 2,769,637. The stock had closed at $12.69 in the previous trading session.
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.