Strs Ohio held its position in Laredo Petroleum Inc. (NYSE:LPI) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 95,250 shares of the company’s stock at the end of the second quarter. Strs Ohio’s holdings in Laredo Petroleum were worth $998,000 at the end of the most recent quarter.
A number of other institutional investors also recently added to or reduced their stakes in LPI. Bank of Montreal Can bought a new position in Laredo Petroleum during the second quarter valued at $10,296,000. CIBC World Markets Inc. bought a new position in Laredo Petroleum during the second quarter valued at $178,000. IBM Retirement Fund increased its position in Laredo Petroleum by 8.8% in the second quarter. IBM Retirement Fund now owns 13,548 shares of the company’s stock valued at $142,000 after buying an additional 1,099 shares during the last quarter. Squarepoint Ops LLC bought a new position in Laredo Petroleum during the first quarter valued at $572,000. Finally, Barclays PLC increased its position in Laredo Petroleum by 275.8% in the first quarter. Barclays PLC now owns 79,617 shares of the company’s stock valued at $558,000 after buying an additional 58,433 shares during the last quarter. 98.78% of the stock is owned by institutional investors.
Shares of Laredo Petroleum Inc. (NYSE:LPI) traded up 1.70% on Friday, hitting $13.13. The company’s stock had a trading volume of 3,580,666 shares. The stock’s 50 day moving average price is $12.47 and its 200 day moving average price is $11.29. The stock’s market capitalization is $2.93 billion. Laredo Petroleum Inc. has a 52 week low of $3.90 and a 52 week high of $13.93.
Laredo Petroleum (NYSE:LPI) last released its quarterly earnings results on Wednesday, August 3rd. The company reported ($0.33) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.10 by $0.43. Laredo Petroleum had a negative net margin of 391.74% and a positive return on equity of 24.95%. The firm had revenue of $146.77 million for the quarter, compared to the consensus estimate of $138.30 million. During the same quarter last year, the company earned $0.05 earnings per share. The firm’s revenue was down 19.5% on a year-over-year basis. On average, analysts forecast that Laredo Petroleum Inc. will post $0.47 earnings per share for the current fiscal year.
Several equities analysts have weighed in on the company. FBR & Co assumed coverage on Laredo Petroleum in a research report on Tuesday, September 13th. They set an “outperform” rating and a $14.00 price target for the company. Credit Suisse Group AG downgraded Laredo Petroleum from a “neutral” rating to an “underperform” rating and set a $9.00 price target for the company. in a research report on Thursday. Zacks Investment Research raised Laredo Petroleum from a “hold” rating to a “buy” rating and set a $15.00 price target for the company in a research report on Wednesday, October 5th. KLR Group raised their price target on Laredo Petroleum from $11.00 to $13.00 and gave the stock a “hold” rating in a research report on Thursday, September 8th. Finally, Raymond James Financial Inc. raised their price target on Laredo Petroleum from $16.00 to $17.00 and gave the stock an “outperform” rating in a research report on Thursday, September 8th. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and eight have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $12.61.
In other Laredo Petroleum news, VP Patrick J. Curth sold 17,000 shares of the company’s stock in a transaction dated Monday, August 29th. The shares were sold at an average price of $12.57, for a total transaction of $213,690.00. Following the completion of the sale, the vice president now directly owns 172,926 shares in the company, valued at $2,173,679.82. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.50% of the company’s stock.
Laredo Petroleum Company Profile
Laredo Petroleum, Inc (Laredo) is an independent energy company 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. The Company’s segments include Exploration and production, and Midstream and marketing.
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