Laredo Petroleum Inc. (NYSE:LPI) shares dropped 2.5% during trading on Thursday . The company traded as low as $10.24 and last traded at $10.38, with a volume of 1,498,742 shares traded. The stock had previously closed at $10.65.

LPI has been the subject of a number of research analyst reports. Zacks Investment Research lowered Laredo Petroleum from a “buy” rating to a “hold” rating in a report on Wednesday, April 20th. Iberia Capital upgraded Laredo Petroleum from a “sector perform” rating to an “outperform” rating and upped their target price for the company from $8.00 to $14.00 in a research note on Tuesday, June 14th. Topeka Capital Markets cut their target price on Laredo Petroleum from $14.00 to $9.00 and set a “buy” rating for the company in a research note on Thursday, May 5th. Nomura Holdings Inc. restated a “neutral” rating and issued a $11.00 target price (up from $10.00) on shares of Laredo Petroleum in a research note on Tuesday, June 21st. Finally, Deutsche Bank AG restated a “hold” rating and issued a $9.00 target price on shares of Laredo Petroleum in a research note on Thursday, June 16th. Four equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and seven have assigned a buy rating to the company’s stock. Laredo Petroleum has an average rating of “Hold” and an average target price of $13.35.

The firm’s 50-day moving average is $11.40 and its 200-day moving average is $8.98. The company’s market cap is $2.26 billion.

Laredo Petroleum (NYSE:LPI) last announced its quarterly earnings data on Wednesday, May 4th. The company reported $0.08 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.06 by $0.02. The company earned $106.55 million during the quarter, compared to analyst estimates of $118.15 million. During the same period in the prior year, the firm earned $0.03 earnings per share. Laredo Petroleum’s revenue was down 29.3% on a year-over-year basis. On average, equities research analysts expect that Laredo Petroleum Inc. will post $0.40 EPS for the current fiscal year.

Other institutional investors recently made changes to their positions in the company. Russell Frank Co boosted its position in shares of Laredo Petroleum by 215.5% in the fourth quarter. Russell Frank Co now owns 147,781 shares of the company’s stock valued at $1,160,000 after buying an additional 100,943 shares in the last quarter. California State Teachers Retirement System boosted its position in Laredo Petroleum by 1.6% in the fourth quarter. California State Teachers Retirement System now owns 235,481 shares of the company’s stock worth $1,881,000 after buying an additional 3,692 shares during the period. Swiss National Bank boosted its position in Laredo Petroleum by 0.9% in the fourth quarter. Swiss National Bank now owns 221,800 shares of the company’s stock worth $1,772,000 after buying an additional 1,900 shares during the period. Sei Investments Co. boosted its position in Laredo Petroleum by 165,856.5% in the fourth quarter. Sei Investments Co. now owns 267,190 shares of the company’s stock worth $2,134,000 after buying an additional 267,029 shares during the period. Finally, Engineers Gate Manager LP acquired a new position in Laredo Petroleum during the fourth quarter worth approximately $2,265,000.

Laredo Petroleum, Inc (Laredo) is an independent energy company 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. The Company’s segments include Exploration and production, and Midstream and marketing.

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