Laredo Petroleum (NYSE:LPI) Shares Down 6.7%

Laredo Petroleum Inc (NYSE:LPI) traded down 6.7% during trading on Monday . The company traded as low as $2.21 and last traded at $2.23, 4,267,819 shares traded hands during mid-day trading. A decline of 22% from the average session volume of 5,483,174 shares. The stock had previously closed at $2.39.

A number of research analysts have recently commented on the stock. Zacks Investment Research cut shares of Laredo Petroleum from a “buy” rating to a “hold” rating in a report on Wednesday, October 16th. JPMorgan Chase & Co. upgraded shares of Laredo Petroleum from an “underweight” rating to a “neutral” rating in a report on Wednesday, July 31st. ValuEngine cut shares of Laredo Petroleum from a “sell” rating to a “strong sell” rating in a report on Friday, November 1st. Finally, Williams Capital set a $4.50 price objective on shares of Laredo Petroleum and gave the stock a “buy” rating in a research note on Tuesday, October 15th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the stock. Laredo Petroleum presently has an average rating of “Hold” and an average price target of $4.55.

The stock’s 50 day moving average is $2.35 and its two-hundred day moving average is $2.72. The company has a market capitalization of $547.78 million, a PE ratio of 2.40 and a beta of 1.62. The company has a quick ratio of 1.54, a current ratio of 1.54 and a debt-to-equity ratio of 0.92.

Laredo Petroleum (NYSE:LPI) last released its quarterly earnings data on Tuesday, November 5th. The oil and gas producer reported $0.21 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.19 by $0.02. Laredo Petroleum had a net margin of 5.87% and a return on equity of 14.25%. The company had revenue of $193.57 million during the quarter, compared to analyst estimates of $215.83 million. During the same period in the prior year, the firm earned $0.27 earnings per share. On average, sell-side analysts predict that Laredo Petroleum Inc will post 0.78 EPS for the current fiscal year.

A number of large investors have recently added to or reduced their stakes in LPI. First Trust Advisors LP lifted its stake in Laredo Petroleum by 79.2% in the first quarter. First Trust Advisors LP now owns 589,417 shares of the oil and gas producer’s stock worth $1,821,000 after acquiring an additional 260,525 shares during the period. Denali Advisors LLC lifted its position in shares of Laredo Petroleum by 908.9% during the second quarter. Denali Advisors LLC now owns 310,794 shares of the oil and gas producer’s stock valued at $901,000 after buying an additional 279,989 shares during the last quarter. WINTON GROUP Ltd purchased a new stake in shares of Laredo Petroleum during the second quarter valued at about $104,000. Birch Hill Investment Advisors LLC purchased a new stake in shares of Laredo Petroleum during the second quarter valued at about $56,000. Finally, Arizona State Retirement System lifted its position in shares of Laredo Petroleum by 1.7% during the second quarter. Arizona State Retirement System now owns 238,516 shares of the oil and gas producer’s stock valued at $692,000 after buying an additional 3,957 shares during the last quarter. 96.10% of the stock is owned by institutional investors.

About Laredo Petroleum (NYSE:LPI)

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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