Cowen & Co. Keeps Their Hold Rating on Laredo Petroleum

By Carrie Williams

Cowen & Co. analyst Charles Robertson II reiterated a Hold rating on Laredo Petroleum (NYSE: LPI) on September 15 and set a price target of $12. The company’s shares closed on Friday at $12.29.

According to TipRanks.com, II is ranked 0 out of 5 stars with an average return of -14.6% and a 30.9% success rate. II covers the Basic Materials sector, focusing on stocks such as Whiting Petroleum Corp, Continental Resources, and Lonestar Resources US.

Laredo Petroleum has an analyst consensus of Moderate Buy, with a price target consensus of $14.

Laredo Petroleum’s market cap is currently $2.98B and has a P/E ratio of 25.08. The company has a book value ratio of 9.1884.

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Laredo Petroleum, Inc. engages in the acquisition, exploration, and development of oil and natural gas properties. It focuses on the Permian Basin in West Texas and southeastern New Mexico. The company was founded by Randy A. Foutch in October 2006 and is headquartered in Tulsa, OK.