American Century Companies Inc. grew its position in shares of Laredo Petroleum Inc (NYSE:LPI) by 195.6% in the 4th quarter, Holdings Channel reports. The fund owned 148,992 shares of the oil and gas producer’s stock after acquiring an additional 98,583 shares during the period. American Century Companies Inc.’s holdings in Laredo Petroleum were worth $1,581,000 at the end of the most recent quarter.
Other large investors have also recently made changes to their positions in the company. State of Alaska Department of Revenue acquired a new stake in Laredo Petroleum during the fourth quarter worth about $123,000. Fox Run Management L.L.C. acquired a new stake in Laredo Petroleum during the third quarter worth about $167,000. Calamos Advisors LLC acquired a new stake in Laredo Petroleum during the third quarter worth about $177,000. Great West Life Assurance Co. Can increased its stake in Laredo Petroleum by 49.6% during the third quarter. Great West Life Assurance Co. Can now owns 21,632 shares of the oil and gas producer’s stock worth $280,000 after acquiring an additional 7,174 shares during the last quarter. Finally, LaSalle Street Capital Management LLC increased its stake in Laredo Petroleum by 64.3% during the third quarter. LaSalle Street Capital Management LLC now owns 23,741 shares of the oil and gas producer’s stock worth $307,000 after acquiring an additional 9,295 shares during the last quarter.
Several brokerages have commented on LPI. BMO Capital Markets restated a “hold” rating and set a $12.00 price target on shares of Laredo Petroleum in a research note on Thursday, January 11th. Williams Capital restated a “hold” rating and set a $11.00 price target on shares of Laredo Petroleum in a research note on Thursday, February 15th. National Securities restated a “buy” rating and set a $13.00 price target on shares of Laredo Petroleum in a research note on Friday, February 16th. Zacks Investment Research lowered Laredo Petroleum from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, January 31st. Finally, Deutsche Bank began coverage on Laredo Petroleum in a research report on Thursday, February 1st. They issued a “hold” rating and a $11.00 target price for the company. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and six have issued a buy rating to the stock. Laredo Petroleum has an average rating of “Hold” and a consensus target price of $13.03.
Laredo Petroleum (NYSE:LPI) last issued its quarterly earnings results on Wednesday, February 14th. The oil and gas producer reported $0.19 EPS for the quarter, beating analysts’ consensus estimates of $0.18 by $0.01. The firm had revenue of $240.34 million during the quarter, compared to the consensus estimate of $212.57 million. Laredo Petroleum had a return on equity of 30.02% and a net margin of 66.77%. Laredo Petroleum’s revenue for the quarter was up 30.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.16 earnings per share. research analysts expect that Laredo Petroleum Inc will post 1 EPS for the current fiscal year.
Laredo Petroleum declared that its Board of Directors has approved a share repurchase plan on Wednesday, February 14th that allows the company to repurchase $200.00 million in shares. This repurchase authorization allows the oil and gas producer to reacquire shares of its stock through open market purchases. Shares repurchase plans are usually a sign that the company’s board believes its stock is undervalued.
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Laredo Petroleum Profile
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.
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