J P Morgan Chase & Co lowered shares of Laredo Petroleum (NYSE:LPI) from a neutral rating to an underweight rating in a report released on Friday.

Several other brokerages have also commented on LPI. Zacks Investment Research raised Laredo Petroleum from a hold rating to a buy rating and set a $14.00 price target on the stock in a research note on Tuesday, October 17th. BMO Capital Markets set a $14.00 price target on Laredo Petroleum and gave the company a hold rating in a research note on Tuesday, October 10th. Piper Jaffray Companies reaffirmed a buy rating and issued a $15.00 price target on shares of Laredo Petroleum in a research note on Wednesday, November 22nd. Credit Suisse Group started coverage on Laredo Petroleum in a research note on Monday, December 11th. They issued a neutral rating and a $12.00 price target on the stock. Finally, KeyCorp reaffirmed a hold rating on shares of Laredo Petroleum in a research note on Friday, November 10th. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and eight have given a buy rating to the company’s stock. Laredo Petroleum has an average rating of Hold and a consensus price target of $14.08.

Shares of Laredo Petroleum (NYSE:LPI) traded down $0.51 during trading hours on Friday, hitting $9.49. The stock had a trading volume of 3,335,691 shares, compared to its average volume of 2,457,748. Laredo Petroleum has a one year low of $9.46 and a one year high of $15.55. The firm has a market cap of $2,425.13, a price-to-earnings ratio of 20.41, a PEG ratio of 3.98 and a beta of 1.33. The company has a debt-to-equity ratio of 4.16, a current ratio of 0.64 and a quick ratio of 0.64.

Laredo Petroleum (NYSE:LPI) last announced 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). The firm had revenue of $205.82 million for the quarter, compared to analyst estimates of $178.48 million. Laredo Petroleum had a return on equity of 43.77% and a net margin of 15.92%. Laredo Petroleum’s revenue for the quarter was up 28.9% compared to the same quarter last year. During the same period in the previous year, the business posted $0.12 EPS. equities research analysts anticipate that Laredo Petroleum will post 0.5 EPS for the current fiscal year.

A number of institutional investors have recently bought and sold shares of the business. California Public Employees Retirement System boosted its stake in Laredo Petroleum by 1.7% in the third quarter. California Public Employees Retirement System now owns 624,010 shares of the oil and gas producer’s stock worth $8,068,000 after purchasing an additional 10,610 shares in the last quarter. Allianz Asset Management GmbH boosted its stake in Laredo Petroleum by 34.3% in the third quarter. Allianz Asset Management GmbH now owns 795,136 shares of the oil and gas producer’s stock worth $10,281,000 after purchasing an additional 203,010 shares in the last quarter. Impala Asset Management LLC boosted its stake in Laredo Petroleum by 11.4% in the third quarter. Impala Asset Management LLC now owns 2,693,685 shares of the oil and gas producer’s stock worth $34,829,000 after purchasing an additional 276,371 shares in the last quarter. WS Management Lllp boosted its stake in Laredo Petroleum by 50.8% in 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 purchasing an additional 2,000,000 shares in the last quarter. Finally, OxFORD Asset Management LLP acquired a new position in Laredo Petroleum in the third quarter worth $1,859,000.

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About Laredo Petroleum

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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