Siebert Williams Shank & Co’s Analyst Provides Guidance for This Canadian Energy Company
Siebert Williams Shank & Co analyst Gabriele Sorbara maintained a Hold rating on Laredo Petroleum (LPI) on December 3 and set a price target of $10.00. The company’s shares closed last Tuesday at $25.87.
According to TipRanks.com, Sorbara is ranked 0 out of 5 stars with an average return of -14.7% and a 30.6% success rate. Sorbara covers the Utilities sector, focusing on stocks such as Continental Resources, Matador Resources, and Concho Resources.
Laredo Petroleum has an analyst consensus of Hold, with a price target consensus of $16.60.
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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.
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.