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Laredo Petroleum (NYSE:LPI) Director L F. Rooney III purchased 20,882 shares of the company’s stock on the open market in a transaction that occurred on Thursday, August 14th. The stock was purchased at an average cost of $23.50 per share, with a total value of $490,727.00. Following the completion of the acquisition, the director now directly owns 39,074 shares in the company, valued at approximately $918,239. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Shares of Laredo Petroleum (NYSE:LPI) traded down 0.46% during mid-day trading on Monday, hitting $23.77. 2,711,687 shares of the company’s stock traded hands. Laredo Petroleum has a 1-year low of $22.76 and a 1-year high of $34.60. The stock’s 50-day moving average is $27.85 and its 200-day moving average is $27.35. The company has a market cap of $3.360 billion and a price-to-earnings ratio of 54.40.

Laredo Petroleum (NYSE:LPI) last issued its quarterly earnings data on Thursday, August 7th. The company reported $0.14 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.18 by $0.04. The company had revenue of $183.00 million for the quarter, compared to the consensus estimate of $190.23 million. The company’s quarterly revenue was up 3.2% on a year-over-year basis. On average, analysts predict that Laredo Petroleum will post $0.95 earnings per share for the current fiscal year.

A number of analysts have recently weighed in on LPI shares. Analysts at Global Hunter Securities cut their price target on shares of Laredo Petroleum from $44.00 to $41.00 in a research note on Tuesday, August 12th. Separately, analysts at Stephens downgraded shares of Laredo Petroleum from an “overweight” rating to an “equal weight” rating in a research note on Monday, August 11th. They now have a $29.00 price target on the stock, down previously from $35.00. Finally, analysts at KLR Group raised their price target on shares of Laredo Petroleum from $2.00 to $27.00 in a research note on Friday, August 8th. Six analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $33.22.

Laredo Petroleum, Inc, formerly Laredo Petroleum Holdings, Inc, is focused on the exploration, development and acquisition of oil and natural gas properties primarily in the Permian region of the United States.

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