Laredo Petroleum (LPI) : Zacks Investment Research ranks Laredo Petroleum (LPI) as 2, which is a Buy recommendation. 4 research analysts consider that the stocks fundamentals point to a bright future, hence they rate the stock as a Strong Buy. 2 other analysts are mildly bullish on the stock and favor a Buy. Not everyone is convinced about the stocks future, hence, the stock receives 1 Sell recommendation. 1 more believe that the stock has more downside risks, hence they propose a Strong Sell. A total of 11 analysts believe that the stock has a limited upside, hence they advise a Hold. The average broker rating of 19 research analysts is 2.63, which indicates as a Hold.
Laredo Petroleum (LPI) : The highest short term price target forecast on Laredo Petroleum (LPI) is $20 and the lowest target price is $8. A total of 18 equity analysts are currently covering the company. The average price of all the analysts is $12.42 with a standard deviation of $3.26.
Company shares have received an average consensus rating of Hold for the current week Also, iBERIA Capital Partners upgrades their rating on the shares of Laredo Petroleum (NYSE:LPI). The current rating of the shares is Outperform. Earlier, the shares were rated a Sector Perform by the brokerage firm. Equity Analysts at the Firm raises the price target to $14 per share from $8 per share. The rating by the firm was issued on June 14, 2016.
Laredo Petroleum (NYSE:LPI): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $9.81 and $9.77 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $10.49. The buying momentum continued till the end and the stock did not give up its gains. It closed at $10.47, notching a gain of 6.84% for the day. The total traded volume was 5,651,639 . The stock had closed at $9.80 on the previous day.
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.