Zacks Investment Research downgraded shares of Laredo Petroleum (NYSE:LPI) from a buy rating to a hold rating in a research report sent to investors on Wednesday, Zacks.com reports.

According to Zacks, “Laredo Petroleum Holdings, Inc. is engaged in the exploration, development and acquisition of oil and natural gas properties in the Permian and Mid-Continent regions of the United States. Laredo Petroleum Holdings, Inc. is headquartered in Tulsa, Oklahoma. “

A number of other equities analysts have also recently commented on the stock. Williams Capital upgraded shares of Laredo Petroleum from a hold rating to a buy rating and lifted their target price for the stock from $4.00 to $5.50 in a research report on Thursday, May 16th. Robert W. Baird upgraded shares of Laredo Petroleum from a neutral rating to an outperform rating and lifted their target price for the stock from $3.00 to $7.00 in a research report on Thursday, May 9th. MKM Partners reiterated a neutral rating and issued a $3.00 target price (down previously from $5.00) on shares of Laredo Petroleum in a research report on Friday, February 15th. Societe Generale cut shares of Laredo Petroleum from a buy rating to a hold rating in a research report on Friday, February 15th. Finally, Raymond James set a $5.00 target price on shares of Laredo Petroleum and gave the stock a buy rating in a research report on Wednesday, January 23rd. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company’s stock. The stock currently has an average rating of Hold and a consensus price target of $7.03.

Shares of NYSE:LPI opened at $3.01 on Wednesday. The firm has a market capitalization of $712.02 million, a P/E ratio of 3.24 and a beta of 1.45. Laredo Petroleum has a 52 week low of $2.80 and a 52 week high of $10.43. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.85 and a current ratio of 0.85.

Laredo Petroleum (NYSE:LPI) last issued its earnings results on Wednesday, May 1st. The oil and gas producer reported $0.12 EPS for the quarter, topping analysts’ consensus estimates of $0.10 by $0.02. The company had revenue of $208.95 million for the quarter, compared to analysts’ expectations of $198.64 million. Laredo Petroleum had a net margin of 21.68% and a return on equity of 17.30%. The firm’s revenue was down 19.5% compared to the same quarter last year. During the same quarter last year, the company earned $0.24 EPS. As a group, equities analysts forecast that Laredo Petroleum will post 0.73 earnings per share for the current fiscal year.

Several hedge funds have recently added to or reduced their stakes in LPI. Renaissance Technologies LLC increased its position in shares of Laredo Petroleum by 3,907.3% in the first quarter. Renaissance Technologies LLC now owns 4,476,200 shares of the oil and gas producer’s stock valued at $13,831,000 after acquiring an additional 4,364,500 shares during the period. Bank of New York Mellon Corp increased its position in shares of Laredo Petroleum by 171.2% in the fourth quarter. Bank of New York Mellon Corp now owns 5,602,765 shares of the oil and gas producer’s stock valued at $20,282,000 after acquiring an additional 3,537,075 shares during the period. Norges Bank purchased a new position in shares of Laredo Petroleum in the fourth quarter valued at about $11,611,000. Dimensional Fund Advisors LP increased its position in shares of Laredo Petroleum by 17.2% in the first quarter. Dimensional Fund Advisors LP now owns 11,869,819 shares of the oil and gas producer’s stock valued at $36,678,000 after acquiring an additional 1,744,481 shares during the period. Finally, SG Americas Securities LLC purchased a new position in shares of Laredo Petroleum in the first quarter valued at about $4,454,000.

About Laredo Petroleum

Laredo Petroleum, Inc, an independent energy company, engages in the acquisition, exploration, and development of oil and natural gas properties in the Permian Basin of West Texas, the United States. The company also provides midstream and marketing services comprising transportation and marketing of oil and natural gas; and natural gas lift systems, crude oil and natural gas gathering, and water delivery and takeaway services.

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Analyst Recommendations for Laredo Petroleum (NYSE:LPI)

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