Shares of Laredo Petroleum Inc. (NYSE:LPI) fell 4.9% on Tuesday . The company traded as low as $11.03 and last traded at $11.18, with a volume of 2,322,680 shares traded. The stock had previously closed at $11.75.

LPI has been the topic of a number of recent research reports. Alembic Global Advisors upgraded Laredo Petroleum from a “neutral” rating to an “overweight” rating and increased their price target for the company from $7.00 to $16.00 in a research note on Monday, May 9th. Barclays PLC assumed coverage on Laredo Petroleum in a research note on Tuesday, June 21st. They issued an “overweight” rating and a $14.00 price objective for the company. Zacks Investment Research cut Laredo Petroleum from a “buy” rating to a “hold” rating in a research note on Wednesday, April 20th. Topeka Capital Markets reduced their price objective 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. Finally, Nomura restated a “neutral” rating and issued a $11.00 price objective (up from $10.00) on shares of Laredo Petroleum in a research note on Tuesday, June 21st. Three equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and six have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $13.54.

The stock’s 50 day moving average is $10.49 and its 200-day moving average is $9.46. The stock’s market cap is $2.52 billion.

Laredo Petroleum (NYSE:LPI) last issued its quarterly earnings data on Wednesday, August 3rd. The company reported ($0.33) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.10 by $0.43. During the same period in the previous year, the company posted $0.05 EPS. The firm earned $146.77 million during the quarter, compared to analyst estimates of $138.30 million. The company’s revenue for the quarter was down 19.5% on a year-over-year basis. Analysts forecast that Laredo Petroleum Inc. will post $0.45 earnings per share for the current fiscal year.

Several hedge funds and institutional investors recently bought and sold shares of the stock. Dimensional Fund Advisors LP boosted its position 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 last quarter. 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 valued at $6,017,000 after buying an additional 330,052 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 valued at $1,881,000 after buying an additional 3,692 shares during the last quarter. Finally, 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 valued at $1,772,000 after buying an additional 1,900 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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