Laredo Petroleum (LPI): Price Target and June Short Interest Disclosure

Laredo Petroleum (LPI) : Currently there are 18 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 $12.53. The estimated standard deviation from the target is $3.38.

Laredo Petroleum (LPI) reported a rise of 0.7% or 152,887 shares in its short interest. The short figure came in at 15.8% of the total floats. The average daily volume of 3,729,022 shares suggests that the days to cover 20,982,042 short positions, as on June 30,2016, will be 6. On June 15,2016, the short interest was 20,829,155 shares. The information was released by Financial Industry Regulatory Authority, Inc (FINRA) on June 12th.

Also, Brokerage firm iBERIA Capital Partners upgrades its rating on Laredo Petroleum (NYSE:LPI). As per the latest information, the brokerage house raises the price target to $14 per share from a prior target of $8. The shares have been rated Outperform. Previously, the analysts had a Sector Perform rating on the shares. The rating by the firm was issued on June 14, 2016.


Laredo Petroleum (NYSE:LPI): On Thursdays trading session , Opening price of the stock was $10.82 with an intraday high of $10.97. The bears continued to sell at higher levels and eventually sold the stock down to an intraday low of $10.6. However, the stock managed to close at $10.7, a loss of 4.04% for the day. On the previous day, the stock had closed at $11.15. The total traded volume of the day was 15,907,499 shares.

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.

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