Laredo Petroleum Inc (NYSE:LPI) gapped up prior to trading on Thursday . The stock had previously closed at $2.93, but opened at $2.94. Laredo Petroleum shares last traded at $2.96, with a volume of 58,163 shares.

Several equities research analysts have recently weighed in on LPI shares. Robert W. Baird increased their price target on Carvana from $65.00 to $85.00 and gave the stock an “outperform” rating in a report on Thursday, May 9th. Credit Suisse Group upgraded Laredo Petroleum from an “underperform” rating to a “neutral” rating and set a $2.83 price target on the stock in a report on Tuesday. They noted that the move was a valuation call. Zacks Investment Research downgraded ExlService from a “hold” rating to a “sell” rating in a report on Wednesday. Williams Capital upgraded Laredo Petroleum from a “hold” rating to a “buy” rating and increased their price target for the stock from $4.00 to $5.50 in a report on Thursday, May 16th. Finally, Capital One Financial upgraded Cimarex Energy from an “equal weight” rating to an “overweight” rating in a report on Thursday, May 23rd. One analyst has rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $6.51.

The stock has a fifty day simple moving average of $2.75. The stock has a market cap of $695.47 million, a P/E ratio of 3.22 and a beta of 1.47. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.92.

Laredo Petroleum (NYSE:LPI) last released its quarterly earnings data on Wednesday, May 1st. The oil and gas producer reported $0.12 EPS for the quarter, topping the consensus estimate of $0.10 by $0.02. The company had revenue of $208.95 million for the quarter, compared to the consensus estimate of $198.64 million. Laredo Petroleum had a return on equity of 17.30% and a net margin of 21.68%. Laredo Petroleum’s quarterly revenue was down 19.5% on a year-over-year basis. During the same period last year, the business posted $0.24 EPS. As a group, analysts predict that Laredo Petroleum Inc will post 0.74 earnings per share for the current fiscal year.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Oregon Public Employees Retirement Fund purchased a new position in shares of Laredo Petroleum in the 4th quarter valued at $209,000. Metropolitan Life Insurance Co. NY increased its holdings in shares of Laredo Petroleum by 356.6% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 51,369 shares of the oil and gas producer’s stock valued at $186,000 after acquiring an additional 40,119 shares during the period. Norges Bank purchased a new position in shares of Laredo Petroleum in the 4th quarter valued at $11,611,000. Virtu Financial LLC increased its holdings in shares of Laredo Petroleum by 14.5% in the 1st quarter. Virtu Financial LLC now owns 29,013 shares of the oil and gas producer’s stock valued at $90,000 after acquiring an additional 3,680 shares during the period. Finally, Municipal Employees Retirement System of Michigan purchased a new position in shares of Laredo Petroleum in the 4th quarter valued at $208,000. Institutional investors own 96.45% of the company’s stock.

About Laredo Petroleum (NYSE:LPI)

Laredo Petroleum, Inc, an independent energy company, engages in the acquisition, exploration, and development of oil and natural gas properties in the Permian Basin of West Texas, the United States. The company also provides midstream and marketing services comprising transportation and marketing of oil and natural gas; and natural gas lift systems, crude oil and natural gas gathering, and water delivery and takeaway services.

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