Laredo Petroleum, Inc. (NYSE:LPI)’s share price shot up 5.2% during mid-day trading on Friday . The stock traded as high as $10.58 and last traded at $10.39. 2,429,616 shares traded hands during mid-day trading, a decline of 33% from the average session volume of 3,608,933 shares. The stock had previously closed at $9.88.

Several brokerages have issued reports on LPI. BMO Capital Markets set a $14.00 price target on shares of Laredo Petroleum and gave the company a “hold” rating in a research report on Sunday, August 13th. Stifel Nicolaus restated a “buy” rating and issued a $17.00 price target on shares of Laredo Petroleum in a research report on Wednesday, October 4th. Cowen restated a “hold” rating and issued a $12.00 price target on shares of Laredo Petroleum in a research report on Sunday, September 17th. Barclays decreased their price target on shares of Laredo Petroleum from $15.00 to $14.00 and set an “overweight” rating for the company in a research report on Monday, November 20th. Finally, Piper Jaffray Companies restated a “buy” rating and issued a $15.00 price target on shares of Laredo Petroleum in a research report on Wednesday, November 22nd. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eight have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $14.27.

The company has a debt-to-equity ratio of 4.16, a current ratio of 0.64 and a quick ratio of 0.64. The firm has a market cap of $2,519.70, a PE ratio of 21.20, a price-to-earnings-growth ratio of 4.16 and a beta of 1.33.

Laredo Petroleum (NYSE:LPI) last posted its quarterly earnings data on Wednesday, November 1st. The oil and gas producer reported $0.13 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.14 by ($0.01). Laredo Petroleum had a return on equity of 43.77% and a net margin of 15.92%. The firm had revenue of $205.82 million for the quarter, compared to analyst estimates of $178.48 million. During the same quarter last year, the company earned $0.12 earnings per share. The company’s quarterly revenue was up 28.9% compared to the same quarter last year. sell-side analysts predict that Laredo Petroleum, Inc. will post 0.5 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. increased its position 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 period. WS Management Lllp increased its position in shares of Laredo Petroleum by 50.8% during the third quarter. WS Management Lllp now owns 5,934,700 shares of the oil and gas producer’s stock worth $76,736,000 after buying an additional 2,000,000 shares during the period. State Street Corp increased its position 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 period. Van ECK Associates Corp increased its position in shares of Laredo Petroleum by 1.8% during the third quarter. Van ECK Associates Corp now owns 4,045,680 shares of the oil and gas producer’s stock worth $52,311,000 after buying an additional 71,104 shares during the period. Finally, Vaughan Nelson Investment Management L.P. increased its position in shares of Laredo Petroleum by 36.8% during the third quarter. Vaughan Nelson Investment Management L.P. now owns 3,886,100 shares of the oil and gas producer’s stock worth $50,247,000 after buying an additional 1,044,525 shares during the period.

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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.

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