Laredo Petroleum (LPI) : 19 analysts are covering Laredo Petroleum (LPI) and their average rating on the stock is 2.32, which is read as a Buy. 6 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 3, which recommends a Hold affirms that they expect a large upside in the stock from the current levels. 1 more analyst has given the stock a Sell recommendation. A total of 10 brokerage firms believe that the stock is fairly valued, hence they advise a Hold on the stock.
Laredo Petroleum (LPI) : Currently there are 19 street experts covering Laredo Petroleum (LPI) stock. The most bullish and bearish price target for the stock is $20 and $8 respectively for the short term. The average price target of all the analysts comes to $13.16. The estimated standard deviation from the target is $3.11.
Also, In the latest statement by the brokerage house, Raymond James maintains its outlook on Laredo Petroleum (NYSE:LPI). The current rating of the shares is Outperform, according to the research report released by the firm. The brokerage firm raises the price target from $16 per share to $17 per share. The rating by the firm was issued on September 8, 2016.
Laredo Petroleum (NYSE:LPI): The stock opened in the green at $11.43 on Thursday, but the bulls found it difficult to push the prices higher. The stock reached a high of $11.65 and a low of $11.12 for the day. The stock did not find buyers even at the lows and closed at $11.25 recording a loss of -0.97%. 4,896,243 shares exchanged hands during the trading day. The stock had closed at $11.36 in the previous days trading.
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.