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Laredo Petroleum (NYSE:LPI) shares reached a new 52-week low during trading on Wednesday , AnalystRatings.Net reports. The stock traded as low as $22.65 and last traded at $22.92, with a volume of 1,716,020 shares. The stock had previously closed at $23.12.

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 investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $33.22.

The stock’s 50-day moving average is $27.43 and its 200-day moving average is $27.38. The company has a market cap of $3.264 billion and a price-to-earnings ratio of 52.67.

Laredo Petroleum (NYSE:LPI) last announced its earnings results on Thursday, August 7th. The company reported $0.14 earnings per share (EPS) for the quarter, missing the 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 revenue for the quarter was up 3.2% on a year-over-year basis. On average, analysts predict that Laredo Petroleum will post $0.91 earnings per share for the current fiscal year.

In other Laredo Petroleum news, Director L F. Rooney III bought 20,882 shares of the company’s stock on the open market in a transaction dated Thursday, August 14th. The stock was purchased at an average cost of $23.50 per share, with a total value of $490,727.00. The acquisition was disclosed in a document filed with the SEC, which is available at this link.

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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