In a report released today, Gabriele Sorbara from Williams Capital maintained a Hold rating on Laredo Petroleum (LPI), with a price target of $6. The company’s shares closed yesterday at $4.20, close to its 52-week low of $4.11.
According to TipRanks.com, Sorbara ‘s ranking currently consits of no stars on a 0-5 ranking scale, with an average return of -8.0% and a 35.4% success rate. Sorbara covers the Basic Materials sector, focusing on stocks such as Gulfport Energy Corp, Extraction Oil & Gas, and Oasis Petroleum Inc.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Laredo Petroleum with a $8.33 average price target.
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Based on Laredo Petroleum’s latest earnings release for the quarter ending September 30, the company reported a quarterly net profit of $55.05 million. In comparison, last year the company had a net profit of $11.03 million.
Based on the recent corporate insider activity of 54 insiders, corporate insider sentiment is negative on the stock.
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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.
