Laredo Petroleum, Inc. (NYSE:LPI) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Thursday.

According to Zacks, “Laredo Petroleum Holdings, Inc. is engaged in the exploration, development and acquisition of oil and natural gas properties in the Permian and Mid-Continent regions of the United States. Laredo Petroleum Holdings, Inc. is headquartered in Tulsa, Oklahoma. “

A number of other research firms have also commented on LPI. Credit Suisse Group reiterated an “underperform” rating and issued a $15.00 price target on shares of Laredo Petroleum in a research report on Friday, June 2nd. Cowen and Company set a $12.00 price target on Laredo Petroleum and gave the company a “hold” rating in a research report on Tuesday, July 18th. BidaskClub lowered Laredo Petroleum from a “sell” rating to a “strong sell” rating in a research report on Wednesday, June 21st. Scotiabank reiterated a “hold” rating and issued a $15.00 price target on shares of Laredo Petroleum in a research report on Monday, May 15th. Finally, BMO Capital Markets reiterated a “hold” rating and issued a $10.00 price target on shares of Laredo Petroleum in a research report on Tuesday, June 27th. Three analysts have rated the stock with a sell rating, nine have given a hold rating and ten have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $14.63.

Shares of Laredo Petroleum (NYSE:LPI) traded down 1.23% during trading on Thursday, reaching $12.09. The company’s stock had a trading volume of 3,570,943 shares. The company’s 50 day moving average price is $11.49 and its 200 day moving average price is $12.74. Laredo Petroleum has a 12 month low of $9.57 and a 12 month high of $16.47. The firm has a market cap of $2.89 billion, a PE ratio of 24.42 and a beta of 1.41.

Laredo Petroleum (NYSE:LPI) last released its quarterly earnings results on Monday, August 7th. The oil and gas producer reported $0.10 EPS for the quarter, missing analysts’ consensus estimates of $0.11 by $0.01. Laredo Petroleum had a net margin of 16.73% and a return on equity of 56.13%. The company had revenue of $187 million during the quarter, compared to the consensus estimate of $173.32 million. During the same quarter last year, the firm posted $0.13 EPS. The company’s quarterly revenue was up 27.5% on a year-over-year basis. On average, equities analysts predict that Laredo Petroleum will post $0.49 earnings per share for the current year.

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A number of hedge funds and other institutional investors have recently made changes to their positions in the company. BlackRock Inc. raised its position in shares of Laredo Petroleum by 2,500.3% in the first quarter. BlackRock Inc. now owns 7,598,973 shares of the oil and gas producer’s stock valued at $110,946,000 after buying an additional 7,306,738 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Laredo Petroleum by 20.9% in the first quarter. Vanguard Group Inc. now owns 14,906,724 shares of the oil and gas producer’s stock valued at $217,638,000 after buying an additional 2,578,127 shares during the last quarter. Point72 Asset Management L.P. raised its position in shares of Laredo Petroleum by 150.2% in the first quarter. Point72 Asset Management L.P. now owns 3,748,400 shares of the oil and gas producer’s stock valued at $54,727,000 after buying an additional 2,250,300 shares during the last quarter. Impala Asset Management LLC raised its position in shares of Laredo Petroleum by 144.6% in the first quarter. Impala Asset Management LLC now owns 2,955,195 shares of the oil and gas producer’s stock valued at $43,146,000 after buying an additional 1,746,915 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its position in shares of Laredo Petroleum by 153.4% in the first quarter. Dimensional Fund Advisors LP now owns 2,368,993 shares of the oil and gas producer’s stock valued at $34,586,000 after buying an additional 1,434,079 shares during the last quarter.

About Laredo Petroleum

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.

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Analyst Recommendations for Laredo Petroleum (NYSE:LPI)

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