Zacks Investment Research cut shares of Laredo Petroleum (NYSE:LPI) from a strong-buy rating to a hold rating in a research note published on Wednesday morning, 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. “

LPI has been the topic of a number of other research reports. Raymond James reaffirmed a buy rating on shares of Laredo Petroleum in a research report on Wednesday, February 24th. Siebert Williams Shank restated a hold rating and set a $26.00 price target on shares of Laredo Petroleum in a report on Tuesday, February 2nd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the stock. The company presently has a consensus rating of Hold and a consensus price target of $25.44.

Shares of Laredo Petroleum stock opened at $35.94 on Wednesday. The company has a debt-to-equity ratio of 8.61, a current ratio of 1.39 and a quick ratio of 1.39. The stock has a market capitalization of $431.96 million, a price-to-earnings ratio of -0.53 and a beta of 4.72. The business has a 50-day moving average of $34.34 and a 200 day moving average of $21.31. Laredo Petroleum has a 12 month low of $6.86 and a 12 month high of $43.98.

Laredo Petroleum (NYSE:LPI) last announced its quarterly earnings data on Sunday, February 21st. The oil and gas producer reported $3.23 earnings per share for the quarter, beating analysts’ consensus estimates of $3.19 by $0.04. Laredo Petroleum had a negative net margin of 111.63% and a positive return on equity of 23.92%. The firm had revenue of $188.07 million during the quarter, compared to analysts’ expectations of $183.28 million. Equities research analysts anticipate that Laredo Petroleum will post 10.95 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. tru Independence LLC purchased a new position in shares of Laredo Petroleum in the 4th quarter valued at about $18,715,000. Hsbc Holdings PLC acquired a new position in Laredo Petroleum in the fourth quarter valued at approximately $392,000. Walleye Capital LLC purchased a new position in Laredo Petroleum in the fourth quarter valued at approximately $354,000. Squarepoint Ops LLC acquired a new stake in Laredo Petroleum during the fourth quarter worth approximately $924,000. Finally, Morgan Stanley lifted its position in shares of Laredo Petroleum by 162.8% during the 4th quarter. Morgan Stanley now owns 231,570 shares of the oil and gas producer’s stock worth $4,562,000 after buying an additional 143,468 shares during the last quarter. 59.68% of the stock is owned by institutional investors.

Laredo Petroleum Company Profile

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. It engages in the sale of oil, natural gas liquids, and natural gas. The company also engages in the integrated oil and natural gas gathering and transportation systems and related facilities; centralized oil storage tanks; natural gas lift, fuel for drilling, and completions activities; centralized compression infrastructure; and water storage, recycling and transportation facilities.

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