Shares of Laredo Petroleum Inc. (NYSE:LPI) shot up 8.7% during mid-day trading on Tuesday . The stock traded as high as $11.88 and last traded at $11.70, with a volume of 1,325,523 shares traded. The stock had previously closed at $10.76.

Several research firms have recently issued reports on LPI. BMO Capital Markets reissued a “hold” rating and set a $12.00 target price on shares of Laredo Petroleum in a report on Wednesday, June 15th. Topeka Capital Markets reduced their target price on Laredo Petroleum from $14.00 to $9.00 and set a “buy” rating on the stock in a report on Thursday, May 5th. JPMorgan Chase & Co. raised Laredo Petroleum from an “underweight” rating to a “neutral” rating and raised their price objective for the company from $9.00 to $12.00 in a research note on Friday, May 13th. Alembic Global Advisors raised Laredo Petroleum from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $7.00 to $16.00 in a research note on Monday, May 9th. Finally, Zacks Investment Research lowered Laredo Petroleum from a “buy” rating to a “hold” rating in a research note on Wednesday, April 20th. Four equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and seven have assigned a buy rating to the stock. Laredo Petroleum has an average rating of “Hold” and an average price target of $13.35.

The stock’s market capitalization is $2.36 billion. The stock has a 50-day moving average of $11.40 and a 200 day moving average of $9.04.

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

Several institutional investors have modified their holdings of LPI. Russell Frank Co increased 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 worth $1,160,000 after buying an additional 100,943 shares during the last quarter. Swiss National Bank increased 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 worth $1,772,000 after buying an additional 1,900 shares during the last quarter. California State Teachers Retirement System increased 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 worth $1,881,000 after buying an additional 3,692 shares during the last quarter. Sei Investments Co. increased 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 worth $2,134,000 after buying an additional 267,029 shares during the last quarter. Finally, Engineers Gate Manager LP acquired a new position in shares of Laredo Petroleum during the fourth quarter worth about $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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