Laredo Petroleum sees Q2 derivatives loss of about $63.1M For Q2, Laredo expects to report a loss on derivatives of approximately $63.1M, including approximately $4.4M net cash paid on settlements of matured derivatives. Although management does not expect these numbers to change, they are preliminary and unaudited.
Laredo Petroleum downgraded to Market Perform from Outperform at Wells Fargo Wells Fargo downgraded Laredo Petroleum and others in the Exploration & Production space to Market Perform on concern that access to capital will become much more difficult amid low oil prices.
Laredo Petroleum price target lowered to $18 from $22 at Brean Capital Brean Capital lowered its price target on Laredo Petroleum to $18 from $22 to reflect the decrease in its capital expenditure budget, which calls for a conservative drilling program. Brean Capital reiterated its Buy rating on Laredo Petroleum shares.