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Seaport Global Securities downgraded Laredo Petroleum Inc (NYSE:LPI) to Neutral in a report released today.

Seaport Global Securities has downgraded Laredo Petroleum Inc (NYSE:LPI) to Neutral in a report released on 6/21/2017.

Previously on Monday May 15, 2017, FBR Capital reported on Laredo Petroleum Inc (NYSE:LPI) raised the target price from $0.00 to $16.00. At the time, this indicated a possible upside of 0.28%.

Yesterday Laredo Petroleum Inc (NYSE:LPI) traded 0.99% higher at $10.55. The company’s 50-day moving average is $12.18 and its 200-day moving average is $12.40. The last closing price is down -0.88% from the 200-day moving average, compared to the S&P 500 which has increased 0.04% over the same time. 3,563,481 shares of the stock were exchanged, down from an average trading volume of 3,714,820

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Laredo Petroleum Inc (NYSE:LPI)

Laredo Petroleum Inc has a 52 week low of $9.57 and a 52 week high of $16.47 with a P/E ratio of 24.83 The company’s market cap is currently $0.

In addition to Seaport Global Securities reporting its target price, a total of 25 brokers have issued a report on the stock. The consensus target price is $12.09 with 1 broker rating the stock a strong buy, 5 brokers rating the stock a buy, 16 brokers rating the stock a hold, 2 brokers rating the stock a underperform, and finally 1 broker rating the stock a sell.

General Information About Laredo Petroleum Inc (NYSE:LPI)

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. The exploration and production of oil and natural gas properties are conducted by it through the exploration and development of its acreage in the Permian Basin. As of December 31, 2016, it had assembled 127,847 net acres in the Permian Basin and had total proved reserves, presented on a three-stream basis, of 167,100 thousand of barrels of oil equivalent (MBOE). The Midstream and marketing segment's operations are conducted by its subsidiary, Laredo Midstream Services, LLC, which buys, sells, gathers and transports oil, natural gas and water primarily for the account of Laredo.

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