Laredo Petroleum (LPI) Receives Price Target

Laredo Petroleum (LPI) : The most positive equity analysts on Laredo Petroleum (LPI) expects the shares to touch $20, whereas, the least positive believes that the stock will trade at $8 in the short term. The company is covered by 18 Wall Street Brokerage Firms. The average price target for shares are $13.03 with an expected fluctuation of $3.12 from the mean.

Laredo Petroleum (LPI) : 18 analysts are covering Laredo Petroleum (LPI) and their average rating on the stock is 2.39, which is read as a Buy. 5 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.


Also, Capital One Financial upgrades its rating on Laredo Petroleum (NYSE:LPI). Analysts at the Capital One Financial have a current rating of Overweight on the shares. The shares were previously rated Equal-weight. The rating by the firm was issued on August 24, 2016.

Laredo Petroleum (NYSE:LPI): The stock opened at $12.16 on Thursday but the bulls could not build on the opening and the stock topped out at $12.33 for the day. The stock traded down to $11.82 during the day, due to lack of any buying support eventually closed down at $12.13 with a loss of -1.22% for the day. The stock had closed at $12.28 on the previous day. The total traded volume was 2,791,215 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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