Laredo Petroleum, Inc. (NYSE:LPI) released its quarterly earnings data on Monday. The oil and gas producer reported $0.10 EPS for the quarter, missing the consensus estimate of $0.11 by $0.01, Briefing.com reports. The firm had revenue of $187 million for the quarter, compared to analysts’ expectations of $173.32 million. Laredo Petroleum had a positive return on equity of 75.64% and a negative net margin of 1.78%. The company’s revenue for the quarter was up 27.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.13 earnings per share.

Laredo Petroleum (LPI) traded down 2.35% during mid-day trading on Tuesday, hitting $12.07. The stock had a trading volume of 680,193 shares. The stock’s market cap is $2.89 billion. Laredo Petroleum has a 52-week low of $9.57 and a 52-week high of $16.47. The firm has a 50-day moving average of $11.23 and a 200-day moving average of $12.79.

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Several large investors have recently bought and sold shares of LPI. Vanguard Group Inc. raised its stake in Laredo Petroleum by 20.9% in the first quarter. Vanguard Group Inc. now owns 14,906,724 shares of the oil and gas producer’s stock valued at $217,638,000 after buying an additional 2,578,127 shares during the last quarter. BlackRock Inc. raised its stake in Laredo Petroleum by 2,500.3% in the first quarter. BlackRock Inc. now owns 7,598,973 shares of the oil and gas producer’s stock valued at $110,946,000 after buying an additional 7,306,738 shares during the last quarter. State Street Corp raised its stake in Laredo Petroleum by 0.4% in the first quarter. State Street Corp now owns 5,011,171 shares of the oil and gas producer’s stock valued at $73,163,000 after buying an additional 18,750 shares during the last quarter. Wellington Management Group LLP raised its stake in Laredo Petroleum by 25.2% in the first quarter. Wellington Management Group LLP now owns 4,311,310 shares of the oil and gas producer’s stock valued at $62,944,000 after buying an additional 869,100 shares during the last quarter. Finally, Point72 Asset Management L.P. raised its stake in Laredo Petroleum by 150.2% in the first quarter. Point72 Asset Management L.P. now owns 3,748,400 shares of the oil and gas producer’s stock valued at $54,727,000 after buying an additional 2,250,300 shares during the last quarter.

LPI has been the topic of several research reports. Credit Suisse Group restated an “underperform” rating and set a $15.00 price objective on shares of Laredo Petroleum in a report on Friday, June 2nd. Cowen and Company set a $12.00 price objective on Laredo Petroleum and gave the stock a “hold” rating in a report on Tuesday, July 18th. BidaskClub downgraded Laredo Petroleum from a “sell” rating to a “strong sell” rating in a report on Wednesday, June 21st. Scotiabank restated a “hold” rating and set a $15.00 price objective on shares of Laredo Petroleum in a report on Monday, May 15th. Finally, BMO Capital Markets restated a “hold” rating and set a $10.00 price objective on shares of Laredo Petroleum in a report on Tuesday, June 27th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and ten have assigned a buy rating to the company. Laredo Petroleum presently has a consensus rating of “Hold” and a consensus price target of $14.51.

About Laredo Petroleum

Laredo Petroleum, Inc (Laredo) is an independent energy company. The Company is focused on the acquisition, exploration and development of oil and natural gas properties, and the transportation of oil and natural gas from such properties primarily in the Permian Basin in West Texas. It operates through two segments: Exploration and production of oil and natural gas properties, and Midstream and marketing.

Earnings History for Laredo Petroleum (NYSE:LPI)

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