In a report released today, John Freeman from Raymond James reiterated a Buy rating on Laredo Petroleum (LPI), with a price target of $15.00. The company’s shares closed last Wednesday at $11.35, close to its 52-week low of $6.60.
According to TipRanks.com, Freeman ‘s ranking currently consits of 0 on a 0-5 ranking scale, with an average return of -18.6% and a 27.5% success rate. Freeman covers the Utilities sector, focusing on stocks such as National Fuel Gas Company, Continental Resources, and Black Stone Minerals.
Laredo Petroleum has an analyst consensus of Hold, with a price target consensus of $12.50.
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Based on Laredo Petroleum’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $174 million and GAAP net loss of $237 million. In comparison, last year the company earned revenue of $194 million and had a GAAP net loss of $265 million.
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Laredo Petroleum, Inc. engages in the exploration, development and acquisition of oil and natural gas properties. It operates in the Permian Basin in West Texas. The company was founded by Randy A. Foutch in October 2006 and is headquartered in Tulsa, OK.
