Laredo Petroleum Holdings (NYSE:LPI) was downgraded by stock analysts at Goldman Sachs Group Inc. from a “buy” rating to a “neutral” rating in a report issued on Tuesday, TheFlyOnTheWall.com reports.
Several other analysts have also recently commented on the stock. Analysts at Northland Capital Partners initiated coverage on shares of Laredo Petroleum Holdings (NYSE:LPI) in a research note to investors on Thursday, September 26th. They set an “outperform” rating and a $36.00 price target on the stock. Separately, analysts at Northland Securities initiated coverage on shares of Laredo Petroleum Holdings (NYSE:LPI) in a research note to investors on Wednesday, September 25th. They set an “outperform” rating on the stock. Finally, analysts at BMO Capital Markets raised their price target on shares of Laredo Petroleum Holdings (NYSE:LPI) from $27.00 to $34.00 in a research note to investors on Friday, September 20th. They now have an “outperform” rating on the stock. Four research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $33.36.
In other Laredo Petroleum Holdings news, Insider Jerry Schuyler unloaded 7,000 shares of the company’s stock on the open market in a transaction dated Thursday, September 26th. The shares were sold at an average price of $29.81, for a total value of $208,670.00. Following the sale, the insider now directly owns 389,223 shares of the company’s stock, valued at approximately $11,602,738. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.
Laredo Petroleum Holdings (NYSE:LPI) traded down 1.04% during mid-day trading on Tuesday, hitting $29.37. 468,775 shares of the company’s stock traded hands. Laredo Petroleum Holdings has a 1-year low of $15.78 and a 1-year high of $30.26. The stock’s 50-day moving average is $26.59 and its 200-day moving average is $21.29. The company has a market cap of $3.742 billion and a price-to-earnings ratio of 93.63.
Laredo Petroleum Holdings (NYSE:LPI) last announced its earnings results on Thursday, August 8th. The company reported $0.16 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.16. On average, analysts predict that Laredo Petroleum Holdings will post $0.62 earnings per share for the current fiscal year.
Laredo Petroleum Holdings, Inc (NYSE:LPI) is an independent energy company focused on the exploration, development and acquisition of oil and natural gas in the Permian and Mid-Continent regions of the United States.
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