Siebert Williams Shank & Co analyst Gabriele Sorbara maintained a Hold rating on Laredo Petroleum (LPI) on March 4 and set a price target of $34.00. The company’s shares closed last Friday at $42.37, close to its 52-week high of $42.69.
According to TipRanks.com, Sorbara has currently 0 stars on a ranking scale of 0-5 stars, with an average return of -5.1% and a 35.5% success rate. Sorbara covers the Utilities sector, focusing on stocks such as Continental Resources, Matador Resources, and Range Resources.
Laredo Petroleum has an analyst consensus of Hold, with a price target consensus of $37.00, which is a -9.8% downside from current levels. In a report issued on March 11, Piper Sandler also maintained a Hold rating on the stock with a $40.00 price target.
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Based on Laredo Petroleum’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $188 million and GAAP net loss of $166 million. In comparison, last year the company earned revenue of $218 million and had a GAAP net loss of $242 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.
