Victory Capital Management Inc. grew its holdings in Laredo Petroleum Inc (NYSE:LPI) by 2,827.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 563,927 shares of the oil and gas producer’s stock after purchasing an additional 544,661 shares during the quarter. Victory Capital Management Inc. owned approximately 0.24% of Laredo Petroleum worth $5,425,000 at the end of the most recent quarter.
Several other hedge funds have also added to or reduced their stakes in LPI. Wells Fargo & Company MN boosted its position in Laredo Petroleum by 384.1% during the first quarter. Wells Fargo & Company MN now owns 1,475,694 shares of the oil and gas producer’s stock worth $12,853,000 after acquiring an additional 1,170,838 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Laredo Petroleum by 24.7% during the first quarter. Dimensional Fund Advisors LP now owns 4,747,858 shares of the oil and gas producer’s stock worth $41,354,000 after acquiring an additional 941,336 shares during the last quarter. LSV Asset Management acquired a new stake in Laredo Petroleum during the first quarter worth approximately $8,193,000. Wafra Investment Advisory Group Inc. NY acquired a new stake in Laredo Petroleum during the first quarter worth approximately $8,109,000. Finally, Prudential Financial Inc. boosted its position in Laredo Petroleum by 56.8% during the first quarter. Prudential Financial Inc. now owns 1,958,564 shares of the oil and gas producer’s stock worth $17,059,000 after acquiring an additional 709,826 shares during the last quarter.
LPI has been the topic of a number of analyst reports. Piper Jaffray Companies set a $14.00 target price on shares of Laredo Petroleum and gave the stock a “buy” rating in a research report on Sunday, August 5th. Bank of America decreased their target price on shares of Laredo Petroleum from $12.00 to $11.00 and set an “underperform” rating on the stock in a research report on Thursday, August 2nd. ValuEngine lowered shares of Laredo Petroleum from a “sell” rating to a “strong sell” rating in a research report on Wednesday, May 2nd. Williams Capital set a $11.00 target price on shares of Laredo Petroleum and gave the stock a “hold” rating in a research report on Thursday, May 3rd. Finally, Tudor Pickering lowered shares of Laredo Petroleum from a “buy” rating to a “hold” rating in a research report on Thursday, May 10th. Three analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $12.22.
Shares of LPI opened at $8.35 on Wednesday. The firm has a market capitalization of $1.88 billion, a price-to-earnings ratio of 9.85, a P/E/G ratio of 1.43 and a beta of 1.11. Laredo Petroleum Inc has a fifty-two week low of $7.41 and a fifty-two week high of $13.40. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 0.94.
Laredo Petroleum (NYSE:LPI) last announced its quarterly earnings results on Wednesday, August 1st. The oil and gas producer reported $0.25 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.29 by ($0.04). The company had revenue of $351.05 million during the quarter, compared to analyst estimates of $225.75 million. Laredo Petroleum had a net margin of 51.05% and a return on equity of 25.80%. The firm’s revenue for the quarter was up 87.7% compared to the same quarter last year. During the same quarter last year, the business earned $0.10 EPS. sell-side analysts forecast that Laredo Petroleum Inc will post 1.12 earnings per share for the current fiscal year.
About Laredo Petroleum
Laredo Petroleum, Inc operates as an independent energy company in the United States. It operates through two segments, Exploration and Production; and Midstream and Marketing. The company engages in the acquisition, exploration, and development of oil and natural gas properties; and the transportation of oil and natural gas primarily in the Permian Basin in West Texas, as well as rig fuel, natural gas lift, and water delivery and takeaway services.
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