Laredo Petroleum (NYSE:LPI) Price Target & New Coverage by Deutsche Bank
Equity research analysts at Deutsche Bank issued “Hold” rating on Laredo Petroleum (NYSE:LPI). The firm started coverage in an analyst report revealed to clients on Friday morning. Deutsche Bank’s target price per share would suggest upside of 21.68 % from the company’s previous stock close.
In spite of the new coverage NYSE:LPI is currently trading -1.00% lower at $12.41 as of 4:05 PM New York time. Laredo Petroleum shares have [From2] 0% in the last 200 days, while the S&P 500 has added 6.00% for the same time period.
According to data compiled by Thomson Reuters, Laredo Petroleum (NYSE:LPI)’s stock is covered by 25 equity analysts across the Street, with 3 analysts giving it a Sell rating, 6 a Buy rating, while 16 consider it a Hold. The 12-month consensus target price for the stock is $12.09, which reflects an downside potential of 2.58% over the current price.
Warburg Pincus Llc had the most significant stake with ownership of 87.67M shares as of q2 2015 for 18.31% of the long stock exposure. Sailingstone Capital Partners Llc is another bullish active investment manager who is having 31.32M shares of Laredo Petroleum or 8.34% of their long stock exposure. Further, Oceanic Investment Management Ltd have 4.84% of their long stock exposure invested in the company for 781,100 shares. The California-based fund Spo Advisory Corp disclosed it had acquired so far a stake worth about 3.82% of the active investment manager’s stock portfolio in Laredo Petroleum. The Florida-based fund Ws Management Lllp is also positive about the stock, possessing 16.87M shares or 2.69% of their long stock exposure.
Laredo Petroleum (NYSE:LPI) Profile
Laredo Petroleum, Inc. (Laredo) is an independent energy company. The Company 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. It operates through two segments: Exploration and production of oil and natural gas properties, and Midstream and marketing.
Laredo Petroleum (NYSE:LPI) traded down -1.00% on 2 February, hitting $12.41. A total of shares of the company’s stock traded hands. This is down from average of 3.27M shares. Laredo Petroleum has a 52 week low of $9.57 and a 52 week high of $16.47. The company has a market cap of $3.01B and a P/E ratio of 25.23.
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