Siebert Williams Shank & Co Keeps a Hold Rating on Laredo Petroleum (LPI)
In a report issued on March 12, Gabriele Sorbara from Siebert Williams Shank & Co maintained a Hold rating on Laredo Petroleum (LPI), with a price target of $20.00. The company’s shares closed last Wednesday at $27.58.
According to TipRanks.com, Sorbara has currently 0 stars on a ranking scale of 0-5 stars, with an average return of -16.0% and a 30.3% success rate. Sorbara covers the Utilities sector, focusing on stocks such as Continental Resources, Matador Resources, and Pioneer Natural.
Currently, the analyst consensus on Laredo Petroleum is a Hold with an average price target of $17.25, which is a -33.0% downside from current levels. In a report issued on March 9, Raymond James also downgraded the stock to Hold.
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The company has a one-year high of $37.20 and a one-year low of $6.60. Currently, Laredo Petroleum has an average volume of 480.7K.
Based on the recent corporate insider activity of 50 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of LPI in relation to earlier this year.
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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.