Short Term Price Target on Laredo Petroleum (LPI)

Laredo Petroleum (NYSE: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, Inc. has lost 8.55% in the last five trading days and dropped 14.31% in the last 4 weeks. Laredo Petroleum, Inc. is up 35.93% in the last 3-month period. Year-to-Date the stock performance stands at 31.16%. Also, iBERIA Capital Partners upgrades its rating on Laredo Petroleum (NYSE:LPI). The global brokerage major raises the current price target from $8 per share to $14 per share. Analysts at the iBERIA Capital Partners have a current rating of Outperform on the shares. The shares were previously rated Sector Perform. The rating by the firm was issued on June 14, 2016.

Laredo Petroleum (NYSE:LPI) has an average broker rating of 2.63, which is interpreted as a Hold, as rated by 19 equity analysts. Nonetheless, 4 analysts are positive on the stocks future and they recommend a Strong Buy on the stock. 2 other analysts advise a Buy. Nevertheless, the majority of 11 analysts consider that the stock is a Hold with neither a large upside nor a downside. Ranking by Zacks Investment Research for Coach Inc is 2, which is also a Buy. 1 brokerage firm advices Strong Sell on the share due to lack of confidence about the future of the company. 1 considers that the stock is a Sell.

Laredo Petroleum (NYSE:LPI): The stock opened at $10.64 on Thursday but the bulls could not build on the opening and the stock topped out at $10.87 for the day. The stock traded down to $10.35 during the day, due to lack of any buying support eventually closed down at $10.48 with a loss of -2.42% for the day. The stock had closed at $10.74 on the previous day. The total traded volume was 4,299,551 shares.

In an insider trading activity, Foutch Randy A, CEO of Laredo Petroleum, Inc. had purchased 22,072 shares on February 19, 2016 in a transaction. The price per share was $4.52 and the total amount of the disclosed transaction was $99,765.The Insider information was disclosed with the Securities and Exchange Commission in a Form 4 filing. This information is based on open market transaction at the market prices.

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.

Leave a Reply

Get Pre-Market Alerts!

Get Pre-Market Analysts' Upgrades, Downgrades, Earnings & Initiations with our FREE daily email newsletter.