According to Zacks, “Laredo Petroleum Holdings, Inc. is engaged in the exploration, development and acquisition of oil and natural gas properties in the Permian and Mid-Continent regions of the United States. Laredo Petroleum Holdings, Inc. is headquartered in Tulsa, Oklahoma. “
Several other research firms have also weighed in on LPI. Barclays PLC restated a buy rating and set a $16.00 target price on shares of Laredo Petroleum in a report on Wednesday, November 16th. Credit Suisse Group boosted their price objective on shares of Laredo Petroleum from $10.00 to $12.00 and gave the stock an underperform rating in a report on Tuesday, January 31st. Tudor Pickering upgraded shares of Laredo Petroleum from a hold rating to a buy rating in a report on Wednesday, January 18th. J P Morgan Chase & Co restated a hold rating on shares of Laredo Petroleum in a research note on Thursday, November 3rd. Finally, KLR Group upgraded shares of Laredo Petroleum from an accumulate rating to a buy rating and set a $17.00 target price on the stock in a research note on Friday, January 20th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and eleven have given a buy rating to the company. The stock has an average rating of Hold and an average price target of $13.41.
Shares of Laredo Petroleum (NYSE:LPI) opened at 14.11 on Wednesday. The company’s market capitalization is $3.36 billion. Laredo Petroleum has a 52 week low of $3.90 and a 52 week high of $16.47. The company’s 50 day moving average price is $14.03 and its 200-day moving average price is $13.18.
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Several hedge funds and other institutional investors have recently made changes to their positions in the company. Sei Investments Co. raised its position in shares of Laredo Petroleum by 474.0% in the third quarter. Sei Investments Co. now owns 277,632 shares of the company’s stock valued at $3,581,000 after buying an additional 229,265 shares during the period. Bank of Montreal Can raised its position in shares of Laredo Petroleum by 1.0% in the third quarter. Bank of Montreal Can now owns 992,597 shares of the company’s stock valued at $12,804,000 after buying an additional 10,106 shares during the period. Quantbot Technologies LP acquired a new position in shares of Laredo Petroleum during the third quarter valued at approximately $909,000. Vaughan Nelson Investment Management L.P. raised its position in shares of Laredo Petroleum by 20.0% in the third quarter. Vaughan Nelson Investment Management L.P. now owns 5,664,525 shares of the company’s stock valued at $73,073,000 after buying an additional 946,000 shares during the period. Finally, Henderson Group PLC raised its position in shares of Laredo Petroleum by 127.8% in the third quarter. Henderson Group PLC now owns 112,808 shares of the company’s stock valued at $1,455,000 after buying an additional 63,278 shares during the period.
About Laredo Petroleum
Laredo Petroleum, Inc (Laredo) is an independent energy company focused on the acquisition, exploration and development of oil and natural gas properties, and the transportation of oil and natural gas from such properties primarily in the Permian Basin in West Texas. The Company’s segments include Exploration and production, and Midstream and marketing.
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