Laredo Petroleum (LPI) : 19 analysts are covering Laredo Petroleum (LPI) and their average rating on the stock is 2.63, which is read as a Hold. 4 equity analysts believe that the stock has a bright future and the price doesnt capture all of its upside, hence they rate the stock as a Strong Buy. Laredo Petroleum (LPI) also receives 2 more Buy recommendations from analysts who believe that the stock will do well going forward. A Zacks Investment Research rank of 2, which recommends a Buy affirms that they expect a large upside in the stock from the current levels. However, 1 analysts consider that the stock has more downward risks ahead, hence, they suggest a Strong Sell on the stock. 1 more analyst has given the stock a Sell recommendation. A total of 11 brokerage firms believe that the stock is fairly valued, hence they advise a Hold on the stock.
Laredo Petroleum (LPI) has been rated by 18 research analysts. Fundamentally, the highest shorterm price forecast for the stock is expected to reach $20 and the lowest price target forecast is $8. The average forecast of all the analysts is $12.47 and the expected standard deviation is $3.31.
Laredo Petroleum (NYSE:LPI): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $10.30 and $10.19 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $10.67. The buying momentum continued till the end and the stock did not give up its gains. It closed at $10.65, notching a gain of 1.14% for the day. The total traded volume was 2,437,693 . The stock had closed at $10.53 on the previous day.
Also, iBERIA Capital Partners upgrades its view on Laredo Petroleum (NYSE:LPI) according to the research report released by the firm to its investors. The shares have now been rated Outperform by the stock experts at the ratings house. Earlier, the shares had a rating of Sector Perform. iBERIA Capital Partners raises the price target from $8 per share to $14 per share on Laredo Petroleum . The rating by the firm was issued on June 14, 2016. The company shares have dropped -4.71% from its 1 Year high price. On Oct 9, 2015, the shares registered one year high at $15.24 and the one year low was seen on Feb 19, 2016. The 50-Day Moving Average price is $11.46 and the 200 Day Moving Average price is recorded at $8.93.
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.