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Shares of Laredo Petroleum (NYSE:LPI) have received a consensus rating of “Buy” from the twenty-one analysts that are currently covering the company, Analyst Ratings News reports. Seven analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $32.61.

LPI has been the subject of a number of recent research reports. Analysts at Canaccord Genuity downgraded shares of Laredo Petroleum from a “buy” rating to a “hold” rating in a research note on Wednesday. They now have a $25.00 price target on the stock, down previously from $42.00. Separately, 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. Finally, 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.

Laredo Petroleum (NYSE:LPI) traded down 0.31% during mid-day trading on Thursday, hitting $22.86. The stock had a trading volume of 459,624 shares. Laredo Petroleum has a 52-week low of $22.58 and a 52-week high of $34.60. The stock has a 50-day moving average of $26.32 and a 200-day moving average of $27.28. The company has a market cap of $3.231 billion and a price-to-earnings ratio of 52.23.

Laredo Petroleum (NYSE:LPI) last posted its quarterly earnings results on Thursday, August 7th. The company reported $0.14 earnings per share for the quarter, missing the analysts’ 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. Analysts expect that Laredo Petroleum will post $0.94 EPS for the current fiscal year.

In other Laredo Petroleum news, Director L F. Rooney III purchased 20,882 shares of Laredo Petroleum stock in a transaction that occurred on Thursday, August 14th. The shares were purchased at an average price of $23.50 per share, for a total transaction of $490,727.00. The purchase 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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