Laredo Petroleum Inc. (NYSE:LPI) fell 6% during trading on Wednesday . The stock traded as low as $9.47 and last traded at $9.47, with a volume of 1,516,756 shares changing hands. The stock had previously closed at $10.07.

Several brokerages recently weighed in on LPI. BMO Capital Markets reiterated a “hold” rating and issued a $12.00 price objective on shares of Laredo Petroleum in a research report on Wednesday, June 15th. Cowen and Company lowered Laredo Petroleum from an “outperform” rating to a “market perform” rating and increased their price objective for the stock from $7.00 to $8.00 in a research report on Monday, April 18th. Imperial Capital began coverage on Laredo Petroleum in a research report on Thursday, May 26th. They issued an “in-line” rating and a $12.50 price objective for the company. Zacks Investment Research upgraded Laredo Petroleum from a “hold” rating to a “buy” rating and set a $12.00 price objective for the company in a research report on Friday, June 17th. Finally, Deutsche Bank AG reiterated a “hold” rating and issued a $9.00 price objective on shares of Laredo Petroleum in a research report on Thursday, June 16th. Four equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and seven have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $13.35.

The stock’s market cap is $2.00 billion. The company has a 50 day moving average price of $10.87 and a 200-day moving average price of $9.19.

Laredo Petroleum (NYSE:LPI) last posted its quarterly earnings data on Wednesday, May 4th. The company reported $0.08 earnings per share for the quarter, beating analysts’ consensus estimates of $0.06 by $0.02. The firm earned $106.55 million during the quarter, compared to analysts’ expectations of $118.15 million. During the same period in the previous year, the company earned $0.03 earnings per share. The business’s quarterly revenue was down 29.3% on a year-over-year basis. On average, equities analysts forecast that Laredo Petroleum Inc. will post $0.42 EPS for the current fiscal year.

Other institutional investors have recently bought and sold shares of the company. Russell Frank Co boosted its position in 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 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 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 last quarter. 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 last quarter. Finally, Schroder Investment Management Group boosted its position in Laredo Petroleum by 78.0% in the fourth quarter. Schroder Investment Management Group now owns 753,055 shares of the company’s stock worth $6,017,000 after buying an additional 330,052 shares during the last quarter.

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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