Laredo Petroleum Inc (NYSE:LPI) has been downgraded to Underperform in a statement by Credit Suisse Group AG earlier today.
- Updated: October 14, 2016
Credit Suisse Group AG has downgraded Laredo Petroleum Inc (NYSE:LPI) to Underperform in a statement released on Thursday October 13, 2016.
On Wednesday October 05, 2016, Zacks Investment Research released a statement on Laredo Petroleum Inc (NYSE:LPI) bumped up the target price from $0.00 to $15.00 that suggested an upside of 0.15%.
Boasting a price of $13.03, Laredo Petroleum Inc (NYSE:LPI) traded 1.70% higher on the day. With the last close up 16.30% from the two hundred day average, compared with the S&P 500 Index which has decreased -0.01% over the date range. Laredo Petroleum Inc has recorded a 50-day average of $12.47 and a two hundred day average of $11.29. Volume of trade was down over the average, with 3,580,666 shares of LPI changing hands under the typical 3,739,170
With a total market value of $0, Laredo Petroleum Inc has with a one year low of $3.90 and a one year high of $14.19 .
A total of 25 analysts have released a research note on LPI. One analyst rating the company a strong buy, five analysts rating the company a buy, sixteen analysts rating the company a hold, two analysts rating the company a underperform, and finally one analyst rating the company a sell with a one year target of $12.09.
More About Laredo Petroleum Inc (NYSE:LPI)
Laredo Petroleum, Inc. (Laredo) is an independent energy company 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 segments include Exploration and production, and Midstream and marketing. The exploration and production of oil and natural gas properties are conducted by the Company through the exploration and development of its acreage in the Permian Basin. It focuses on development activities in over four targets for horizontal drilling (Upper, Middle and Lower Wolfcamp and Cline formations). It has over 131,760 of the net acres in the Permian-Garden City area. The Midstream and marketing segment's operations are conducted by its subsidiary, Laredo Midstream Services, LLC, which buys, sells, gathers and transports oil, natural gas and water. This system gathers, transports and delivers over 69,000 barrels per day.
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