Laredo Petroleum (LPI) : 19 analysts are covering Laredo Petroleum (LPI) and their average rating on the stock is 2.63, which is read as a Hold. 4 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. However, 1 analysts consider that the stock has more downward risks ahead, hence, they suggest a Strong Sell on the stock. 1 more analyst has given the stock a Sell recommendation. A total of 11 brokerage firms believe that the stock is fairly valued, hence they advise a Hold on the stock.
Laredo Petroleum (LPI) : 18 investment research analysts covering Laredo Petroleum (LPI) have an average price target of $12.53 for the near short term. The highest target price given by the Brokerage Firm to the stock is $20 and the lowest target is $8 for the short term. Analysts expect the variance to be within $3.27 of the average price.
Company shares have received an average consensus rating of Hold for the current week Laredo Petroleum (NYSE:LPI): During Thursdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $11.00 and $10.96 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $11.57. The buying momentum continued till the end and the stock did not give up its gains. It closed at $11.24, notching a gain of 3.50% for the day. The total traded volume was 2,954,480 . The stock had closed at $10.86 on the previous day.
In a related news, Foutch Randy A, CEO of Laredo Petroleum, Inc., had purchased 22,072 shares on February 19, 2016. The total value of the transaction was $99,765. The information was disclosed with the SEC in a Form 4 Filing. The information is based on open market trades at the market prices.Option exercises are not covered.
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.