Laredo Petroleum Inc. (NYSE:LPI)’s share price traded down 4.5% during mid-day trading on Wednesday . The company 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 equities analysts have recently weighed in on LPI shares. BMO Capital Markets reaffirmed 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 cut their target price on shares of Laredo Petroleum from $14.00 to $9.00 and set a “buy” rating for the company in a report on Thursday, May 5th. JPMorgan Chase & Co. raised shares of Laredo Petroleum from an “underweight” rating to a “neutral” rating and lifted their target price for the company from $9.00 to $12.00 in a report on Friday, May 13th. Alembic Global Advisors raised shares of Laredo Petroleum from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $7.00 to $16.00 in a report on Monday, May 9th. Finally, Zacks Investment Research lowered shares of Laredo Petroleum from a “buy” rating to a “hold” rating in a report on Wednesday, April 20th. Four 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. Laredo Petroleum has a consensus rating of “Hold” and a consensus target price of $13.35.

The stock’s 50 day moving average is $11.35 and its 200 day moving average is $9.06. The company’s market cap is $2.27 billion.

Laredo Petroleum (NYSE:LPI) last released its quarterly earnings data on Wednesday, May 4th. The company reported $0.08 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.06 by $0.02. The business earned $106.55 million during the quarter, compared to analysts’ expectations of $118.15 million. The company’s revenue was down 29.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.03 EPS. Equities research analysts predict that Laredo Petroleum Inc. will post $0.40 earnings per share for the current year.

A number of hedge funds have recently bought and sold shares of LPI. Dimensional Fund Advisors LP raised its stake in Laredo Petroleum by 49.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,483,886 shares of the company’s stock valued at $11,854,000 after buying an additional 492,473 shares during the period. Schroder Investment Management Group raised its stake in Laredo Petroleum by 78.0% in the fourth quarter. Schroder Investment Management Group now owns 753,055 shares of the company’s stock valued at $6,017,000 after buying an additional 330,052 shares during the period. Engineers Gate Manager LP purchased a new stake in Laredo Petroleum during the fourth quarter valued at $2,265,000. Sei Investments Co. raised its stake in 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 during the period. Finally, Russell Frank Co raised its stake in 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 during the period.

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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