Laredo Petroleum, Inc. (NYSE:LPI) has received an average rating of “Hold” from the twenty-three brokerages that are presently covering the company, MarketBeat Ratings reports. Three research analysts have rated the stock with a sell rating, ten have given a hold rating and nine have issued a buy rating on the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $14.78.

Several brokerages recently commented on LPI. Zacks Investment Research raised Laredo Petroleum from a “sell” rating to a “hold” rating in a research note on Tuesday, August 1st. KeyCorp reissued a “hold” rating on shares of Laredo Petroleum in a research note on Friday. Williams Capital set a $14.00 price target on Laredo Petroleum and gave the company a “hold” rating in a research note on Tuesday, August 8th. Cowen and Company set a $12.00 price target on Laredo Petroleum and gave the company a “hold” rating in a research note on Tuesday, July 18th. Finally, BMO Capital Markets set a $14.00 price target on Laredo Petroleum and gave the company a “hold” rating in a research note on Sunday, August 13th.

Laredo Petroleum (LPI) traded down 2.36% on Tuesday, reaching $12.40. 3,180,241 shares of the company traded hands. Laredo Petroleum has a 52-week low of $9.57 and a 52-week high of $16.47. The stock has a market capitalization of $2.97 billion, a price-to-earnings ratio of 25.05 and a beta of 1.44. The firm has a 50 day moving average price of $12.20 and a 200 day moving average price of $12.49.

Laredo Petroleum (NYSE:LPI) last announced its quarterly earnings results on Monday, August 7th. The oil and gas producer reported $0.10 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.11 by $0.01. The firm had revenue of $187 million during the quarter, compared to the consensus estimate of $173.32 million. Laredo Petroleum had a net margin of 16.73% and a return on equity of 49.15%. The company’s quarterly revenue was up 27.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.13 EPS. Equities research analysts predict that Laredo Petroleum will post $0.51 EPS for the current year.

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Several hedge funds have recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in shares of Laredo Petroleum by 7.9% during the second quarter. Vanguard Group Inc. now owns 16,083,332 shares of the oil and gas producer’s stock worth $169,197,000 after buying an additional 1,176,608 shares during the last quarter. BlackRock Inc. lifted its holdings in shares of Laredo Petroleum by 2,500.3% during the first quarter. BlackRock Inc. now owns 7,598,973 shares of the oil and gas producer’s stock worth $110,946,000 after buying an additional 7,306,738 shares during the last quarter. State Street Corp lifted its holdings in shares of Laredo Petroleum by 15.9% during the second quarter. State Street Corp now owns 5,810,244 shares of the oil and gas producer’s stock worth $61,121,000 after buying an additional 799,073 shares during the last quarter. Wellington Management Group LLP lifted its holdings in shares of Laredo Petroleum by 25.2% during the first quarter. Wellington Management Group LLP now owns 4,311,310 shares of the oil and gas producer’s stock worth $62,944,000 after buying an additional 869,100 shares during the last quarter. Finally, Point72 Asset Management L.P. lifted its holdings in shares of Laredo Petroleum by 150.2% during the first quarter. Point72 Asset Management L.P. now owns 3,748,400 shares of the oil and gas producer’s stock worth $54,727,000 after buying an additional 2,250,300 shares during the last quarter.

Laredo Petroleum Company Profile

Laredo Petroleum, Inc (Laredo) is an independent energy company. The Company is 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. It operates through two segments: Exploration and production of oil and natural gas properties, and Midstream and marketing.

Analyst Recommendations for Laredo Petroleum (NYSE:LPI)

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