In a report released yesterday, Gabriele Sorbara from Williams Capital reiterated a Hold rating on Laredo Petroleum (NYSE: LPI), with a price target of $10. The company’s shares closed yesterday at $8.14, close to its 52-week low of $7.41.
According to TipRanks.com, Sorbara is a 2-star analyst with an average return of 0.3% and a 45.4% success rate. Sorbara covers the Basic Materials sector, focusing on stocks such as Gulfport Energy Corp, Extraction Oil & Gas, and Oasis Petroleum Inc.
Currently, the analyst consensus on Laredo Petroleum is a Moderate Buy with an average price target of $13.67.
See today’s analyst top recommended stocks >>
Based on Laredo Petroleum’s latest earnings release for the quarter ending June 30, the company reported a quarterly net profit of $33.45 million. In comparison, last year the company had a net profit of $61.11 million.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Laredo Petroleum, Inc. engages in the acquisition, exploration, and development of oil and natural gas properties. It operates through two segments: Exploration & Production and Midstream & Marketing. The Exploration & Production segment is engaged in the acquisition, exploration and development of oil and natural gas properties.
