Stock of the Day: Laredo Petroleum Inc on Focus After Trading At 52-Week Highs

Stock of the Day: Laredo Petroleum Inc on Focus After Trading At 52 Week Highs

The stock of Laredo Petroleum Inc (NYSE:LPI) hit a new 52-week high and has $16.85 target or 8.00% above today’s $15.60 share price. The 8 months bullish chart indicates low risk for the $3.72B company. The 1-year high was reported on Nov, 30 by If the $16.85 price target is reached, the company will be worth $297.60 million more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 1.78 million shares traded hands. Laredo Petroleum Inc (NYSE:LPI) has risen 14.06% since April 27, 2016 and is uptrending. It has outperformed by 8.83% the S&P500.

Analysts await Laredo Petroleum Inc (NYSE:LPI) to report earnings on February, 21. They expect $0.15 earnings per share, up 150.00% or $0.09 from last year’s $0.06 per share. LPI’s profit will be $35.79M for 25.98 P/E if the $0.15 EPS becomes a reality. After $0.12 actual earnings per share reported by Laredo Petroleum Inc for the previous quarter, Wall Street now forecasts 25.00% EPS growth.

Laredo Petroleum Inc (NYSE:LPI) Ratings Coverage

Out of 20 analysts covering Laredo Petroleum Holdings Inc (NYSE:LPI), 5 rate it a “Buy”, 1 “Sell”, while 14 “Hold”. This means 25% are positive. $15 is the highest target while $6 is the lowest. The $10.79 average target is -30.83% below today’s ($15.6) stock price. Laredo Petroleum Holdings Inc has been the topic of 51 analyst reports since July 21, 2015 according to StockzIntelligence Inc. The firm earned “Equal-Weight” rating on Thursday, February 18 by Stephens. Topeka Capital Markets maintained the stock with “Buy” rating in Tuesday, January 26 report. The rating was initiated by FBR Capital with “Outperform” on Tuesday, September 13. The firm has “Neutral” rating given on Tuesday, August 30 by Seaport Global. Deutsche Bank initiated the stock with “Hold” rating in Wednesday, December 2 report. The rating was initiated by Cowen & Co with “Market Perform” on Wednesday, December 9. The company was downgraded on Thursday, October 13 by Credit Suisse. Raymond James upgraded the stock to “Market Perform” rating in Monday, August 10 report. The rating was initiated by Nomura with “Neutral” on Thursday, December 3. The firm has “Reduce” rating by KLR Group given on Thursday, October 15.

According to Zacks Investment Research, “Laredo Petroleum Holdings, Inc. is engaged in the exploration, development and acquisition of oil and natural gas properties in the Permian and Mid-Continent regions of the United States. Laredo Petroleum Holdings, Inc. is headquartered in Tulsa, Oklahoma.”

Insitutional Activity: The institutional sentiment decreased to 1.47 in Q2 2016. Its down 0.30, from 1.77 in 2016Q1. The ratio fall, as 20 funds sold all Laredo Petroleum Inc shares owned while 32 reduced positions. 33 funds bought stakes while 59 increased positions. They now own 236.22 million shares or 5.15% more from 224.65 million shares in 2016Q1.
California Pub Employees Retirement Systems last reported 694,400 shares in the company. D E Shaw & Com has 822,506 shares for 0.02% of their US portfolio. Tph Asset Management Limited Liability Com reported 1.26 million shares or 1.28% of all its holdings. Sailingstone Cap Prtnrs Ltd Liability Com holds 7.39% of its portfolio in Laredo Petroleum Inc (NYSE:LPI) for 33.42M shares. Uss Inv Mgmt Ltd has 0.01% invested in the company for 73,500 shares. Oppenheimer And, a New York-based fund reported 27,500 shares. Great West Life Assurance Company Can has 0% invested in the company for 21,954 shares. The Massachusetts-based Rhumbline Advisers has invested 0% in Laredo Petroleum Inc (NYSE:LPI). Vaughan Nelson Mgmt Lp has 0.63% invested in the company for 4.72 million shares. Princeton Alpha Mngmt Limited Partnership accumulated 35,746 shares or 0.07% of the stock. Spo Advisory has 3.54% invested in the company for 16.87 million shares. Jennison Associate Lc holds 2.18 million shares or 0.03% of its portfolio. Acadian Asset Lc, a Massachusetts-based fund reported 458 shares. Texan holds 0.06% of its portfolio in Laredo Petroleum Inc (NYSE:LPI) for 12,200 shares. Allianz Asset Mngmt Ag has 854,275 shares for 0% of their US portfolio.

LPI Company Profile

Laredo Petroleum, Inc. (Laredo), incorporated in August 12, 2011, is an independent energy company. The Firm is focused on the acquisition, exploration and development of oil and natural gas properties, and the transportation of oil and natural gas from such properties primarily in the Permian Basin in West Texas. The Company’s divisions include Exploration and production, and Midstream and marketing. The exploration and production of oil and natural gas properties are conducted principally by the Company through the exploration and development of its acreage in the Permian Basin. The Firm has assembled approximately 135,410 net acres in the Permian Basin and has total proved reserves presented on a three-stream basis of over 125,700 thousand barrel of oil equivalent (MBOE). The Midstream and marketing segment’s activities are conducted principally by its subsidiary, Laredo Midstream Services, LLC (LMS), which buys, sells, gathers and transports oil, natural gas and water primarily for the account of Laredo. This system gathers, transports and delivers over 69,000 barrels per day. It is conducting hydraulic fracturing activity in the completion of both its vertical and horizontal wells in the Permian Basin.

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.

Leave a Comment