Zacks Investment Research upgraded shares of Laredo Petroleum (NYSE:LPI) from a hold rating to a buy rating in a research note published on Wednesday, Zacks.com reports. They currently have $3.25 target price on the oil and gas producer’s stock.

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

Shares of NYSE:LPI opened at $3.09 on Wednesday. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.92. The stock’s fifty day moving average is $2.75. Laredo Petroleum has a fifty-two week low of $2.40 and a fifty-two week high of $10.02. The company has a market capitalization of $707.30 million, a price-to-earnings ratio of 3.74 and a beta of 1.47.

Laredo Petroleum (NYSE:LPI) last announced its earnings results on Wednesday, May 1st. The oil and gas producer reported $0.12 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.10 by $0.02. Laredo Petroleum had a net margin of 21.68% and a return on equity of 17.30%. The business had revenue of $208.95 million for the quarter, compared to the consensus estimate of $198.64 million. During the same quarter in the prior year, the firm posted $0.24 earnings per share. The business’s revenue for the quarter was down 19.5% on a year-over-year basis. Equities research analysts anticipate that Laredo Petroleum will post 0.74 EPS for the current year.

Large investors have recently added to or reduced their stakes in the company. WINTON GROUP Ltd purchased a new stake in Laredo Petroleum in the 2nd quarter worth $104,000. Denali Advisors LLC increased its holdings in Laredo Petroleum by 908.9% in the 2nd quarter. Denali Advisors LLC now owns 310,794 shares of the oil and gas producer’s stock worth $901,000 after acquiring an additional 279,989 shares in the last quarter. First Trust Advisors LP increased its holdings in Laredo Petroleum by 79.2% in the 1st quarter. First Trust Advisors LP now owns 589,417 shares of the oil and gas producer’s stock worth $1,821,000 after acquiring an additional 260,525 shares in the last quarter. Nordea Investment Management AB increased its holdings in Laredo Petroleum by 3.9% in the 1st quarter. Nordea Investment Management AB now owns 672,261 shares of the oil and gas producer’s stock worth $2,076,000 after acquiring an additional 25,349 shares in the last quarter. Finally, Marshall Wace North America L.P. purchased a new stake in Laredo Petroleum in the 1st quarter worth $2,726,000. Institutional investors and hedge funds own 96.45% of the company’s stock.

About Laredo Petroleum

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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Analyst Recommendations for Laredo Petroleum (NYSE:LPI)

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