Analysts: Laredo Petroleum, Inc. (NYSE:LPI) stock is worth $10.79

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Laredo Petroleum, Inc. (LPI) down -9.05 per cent in the past week, is under coverage of 26 analysts who collectively recommend a hold rating on stock. 5 of the analysts have a buy or better rating; the 1 sells versus 3 underperforms. The 24 equity analysts who rate the stock have an average target price at $10.79, with individual targets ranging between $3 and $25. The shares closed last trade at $10.86, implying that analysts see shares falling about -0.64 per cent in 12 months’ time.

Insider Activity: Insiders look optimistic about the prospects of the company that they seem to accumulate shares while they are 35.92 up so far this year. A Chairman & CEO at Laredo Petroleum, Inc. (LPI) purchased shares in the company in a transaction completed on Friday February 19, 2016. Foutch Randy A accumulated 22,072 shares in the company at an average price of $4.52 and ended up spending $99,800 in the investment. Foutch Randy A now have 1,455,099 shares in the company after this transaction. A Executive Vice President & CFO in the company, Buterbaugh Richard C, on Friday February 19, 2016 spent $104,500 from the purchase of 25,000 shares at $4.52 each. Insiders are expected to know better about the health and prospects of their company, which is why insiders’ move deserves attention.

Earnings to Watch: Investors considering LPI stock at the going market price of $10.86/share should know the stock will next release quarterly results for the June 2016 quarter. For the reporting quarter, analysts expect the company to deliver $0.08 in earnings per share (EPS). That would represent a 60% year-over-year increase. Revenue for the same period is expected to arrive at $127.08M.

Earnings Roundup: In the last fiscal quarter alone, Laredo Petroleum, Inc. generated around $106.56M in revenue and net income of $0.08/share. That compares with the consensus estimate $121.35M and $0.05/share, respectively. For the prior quarter revenue for the company hit $123.28M, with earnings at $0.06/share.

Analyst Coverage: JP Morgan has been a brokerage house following shares of Laredo Petroleum, Inc. (LPI), so its rating change is noteworthy. The stock was upgraded to Neutral from Underweight, wrote analysts at JP Morgan, in a note issued to clients on Friday May 13, 2016. There was another key note issued by Alembic Global Advisors on Monday May 09, 2016. The firm lifted its rating on LPI from Neutral to Overweight.

Price Momentum: Despite the -2.78% decrease in value, the stock’s new closing price represents a -28.74% fall in value from company’s one year high of $15.24. The stock is currently holding below its 50 day moving average of $14.48 and above its 200 day moving average of $10.2. Over the last three months and over the last six months, the shares of Laredo Petroleum, Inc. (LPI), have changed 16.74% and 8.82%, respectively.

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