Laredo Petroleum (NYSE:LPI) Raised to Neutral at Credit Suisse Group
Credit Suisse Group upgraded shares of Laredo Petroleum (NYSE:LPI) from an underperform rating to a neutral rating in a report issued on Tuesday morning, Benzinga reports. They currently have $2.83 price target on the oil and gas producer’s stock. The analysts noted that the move was a valuation call.
Several other equities analysts have also recently weighed in on the stock. Robert W. Baird lifted their price objective on shares of Carvana from $65.00 to $85.00 and gave the stock an outperform rating in a research report on Thursday, May 9th. Zacks Investment Research upgraded shares of HB Fuller from a sell rating to a hold rating in a research report on Wednesday, July 3rd. Capital One Financial upgraded shares of Cimarex Energy from an equal weight rating to an overweight rating in a research report on Thursday, May 23rd. Finally, Williams Capital upgraded shares of Laredo Petroleum from a hold rating to a buy rating and lifted their price objective for the stock from $4.00 to $5.50 in a research report on Thursday, May 16th. One analyst has rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the stock. Laredo Petroleum has an average rating of Hold and a consensus price target of $6.51.
Shares of NYSE:LPI opened at $3.09 on Tuesday. Laredo Petroleum has a 12 month low of $2.40 and a 12 month high of $10.02. The company has a market capitalization of $707.30 million, a PE ratio of 3.74 and a beta of 1.47. The business’s 50 day moving average price is $2.75. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.85 and a current ratio of 0.85.
Institutional investors have recently bought and sold shares of the company. Oregon Public Employees Retirement Fund purchased a new position in shares of Laredo Petroleum during the 4th quarter valued at $209,000. Metropolitan Life Insurance Co. NY grew its holdings in shares of Laredo Petroleum by 356.6% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 51,369 shares of the oil and gas producer’s stock valued at $186,000 after acquiring an additional 40,119 shares in the last quarter. Norges Bank purchased a new position in shares of Laredo Petroleum during the 4th quarter valued at $11,611,000. Virtu Financial LLC grew its holdings in shares of Laredo Petroleum by 14.5% during the 1st quarter. Virtu Financial LLC now owns 29,013 shares of the oil and gas producer’s stock valued at $90,000 after acquiring an additional 3,680 shares in the last quarter. Finally, Municipal Employees Retirement System of Michigan purchased a new position in shares of Laredo Petroleum during the 4th quarter valued at $208,000. Institutional investors and hedge funds own 96.45% of the company’s stock.
About Laredo Petroleum
Laredo Petroleum, Inc, an independent energy company, engages in the acquisition, exploration, and development of oil and natural gas properties in the Permian Basin of West Texas, the United States. The company also provides midstream and marketing services comprising transportation and marketing of oil and natural gas; and natural gas lift systems, crude oil and natural gas gathering, and water delivery and takeaway services.
Further Reading: Trading Strategy Examples and Plans
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.