Laredo Petroleum Inc. (NYSE:LPI) shares fell 4.5% on Wednesday . The stock traded as low as $10.95 and last traded at $11.08, with a volume of 1,252,076 shares traded. The stock had previously closed at $11.60.

Several research firms have recently weighed in on LPI. Barclays PLC began coverage on shares of Laredo Petroleum in a research report on Tuesday, June 21st. They issued an “overweight” rating and a $14.00 target price on the stock. Zacks Investment Research raised shares of Laredo Petroleum from a “hold” rating to a “buy” rating and set a $12.00 target price on the stock in a research report on Friday, June 17th. Cowen and Company downgraded shares of Laredo Petroleum from an “outperform” rating to a “market perform” rating and lifted their target price for the stock from $7.00 to $8.00 in a research report on Monday, April 18th. Seaport Global Securities downgraded shares of Laredo Petroleum from a “neutral” rating to a “sell” rating and set a $5.00 target price on the stock. in a research report on Thursday, March 31st. Finally, Deutsche Bank AG reaffirmed a “hold” rating and set a $9.00 price objective (up from $6.00) on shares of Laredo Petroleum in a research report on Wednesday, March 23rd. 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 stock. The stock presently has a consensus rating of “Hold” and an average target price of $13.35.

The firm’s market cap is $2.36 billion. The stock’s 50 day moving average is $11.40 and its 200 day moving average is $9.03.

Laredo Petroleum (NYSE:LPI) last issued its quarterly earnings results on Wednesday, May 4th. The company reported $0.08 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.02. The business had revenue of $106.55 million for the quarter, compared to the consensus estimate of $118.15 million. During the same period in the prior year, the business earned $0.03 earnings per share. Laredo Petroleum’s revenue was down 29.3% compared to the same quarter last year. On average, equities research analysts forecast that Laredo Petroleum Inc. will post $0.40 earnings per share for the current fiscal year.

Other institutional investors have modified their holdings of 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 shares of Laredo Petroleum by 1.6% in the fourth quarter. California State Teachers Retirement System now owns 235,481 shares of the company’s stock valued at $1,881,000 after buying an additional 3,692 shares in the last quarter. Swiss National Bank boosted its position in shares of Laredo Petroleum by 0.9% in the fourth quarter. Swiss National Bank now owns 221,800 shares of the company’s stock valued at $1,772,000 after buying an additional 1,900 shares in the last quarter. Sei Investments Co. boosted its position in shares of Laredo Petroleum by 165,856.5% in the fourth quarter. Sei Investments Co. now owns 267,190 shares of the company’s stock valued at $2,134,000 after buying an additional 267,029 shares in the last quarter. Finally, Engineers Gate Manager LP acquired a new position in shares of Laredo Petroleum during the fourth quarter valued at $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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