Laredo Petroleum Holdings Inc (NYSE:LPI) shares lose by 4.52%


Dallas, Texas 08/14/2013 (Financialstrend) – Laredo Petroleum Holdings Inc (NYSE:LPI)  had setbacks of 4.52% during the trading on Tuesday and had thereby closed at $23.25 per share. While the stock opened at $23.53 per share, there had been oscillations in the intraday values ranging between $23.25 and $23.80 per share during the day. The 52 week low price for the stock is currently at $15.78 and 52 week high price is at $26.16 per share. There are a total 129.50 million shares in the market regarding to a market cap of $3.01 billion. The stock observed around 10.38 million shares being traded hands on Tuesday while the average level of tradeoff is at 926.235 million shares a day.

“Laredo” proclaimed the estimating of an underwritten public contribution of 16,000,000 shares of its common stock at a public proposing price of $23.75 per share. The Business is contributing 13,000,000 shares of common stock, and confident partners of Warburg Pincus LLC and supporters of the Business administration (collectively, the “selling stockholders”) are proposing an additional 3,000,000 shares of common stock. Certain of the sales stockholders have approved the underwriters a 30-day option to buying up to 2,400,000 additional shares at the community offering price, less underwriting deductions and charges. The offering is anticipated to close by on or about August 19, 2013, subject to expected closing state of affairs. Upon closing of the proposing, affiliates of Warburg Pincus LLC will own in the region of 57% of the Business’s shares of common stock.

Howard Weil dropped its price target on shares of Northern Oil & Gas Inc. from $27.00 to $19.00. They have a segment outperform rating on that stock. In conclusion, Howard Weil raised its price aim on shares of Laredo Petroleum Holdings Inc. from $31.00 to $41.00. They have a zonebeat rating on this stock.