Virginia Retirement Systems ET AL Takes $642,000 Position in Laredo Petroleum Inc (LPI)

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Virginia Retirement Systems ET AL bought a new position in Laredo Petroleum Inc (NYSE:LPI) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 66,700 shares of the oil and gas producer’s stock, valued at approximately $642,000.

Other large investors have also modified their holdings of the company. Creative Planning purchased a new position in Laredo Petroleum in the 2nd quarter worth about $108,000. Victory Capital Management Inc. purchased a new position in Laredo Petroleum in the 1st quarter worth about $168,000. ARP Americas LP purchased a new position in Laredo Petroleum in the 1st quarter worth about $174,000. Aperio Group LLC raised its position in Laredo Petroleum by 52.7% in the 1st quarter. Aperio Group LLC now owns 26,848 shares of the oil and gas producer’s stock worth $234,000 after buying an additional 9,261 shares during the last quarter. Finally, Glen Harbor Capital Management LLC raised its position in Laredo Petroleum by 220.0% in the 1st quarter. Glen Harbor Capital Management LLC now owns 28,720 shares of the oil and gas producer’s stock worth $250,000 after buying an additional 19,744 shares during the last quarter.

LPI has been the subject of a number of recent analyst reports. Piper Jaffray Companies set a $14.00 target price on Laredo Petroleum and gave the stock a “buy” rating in a research report on Sunday, August 5th. Williams Capital set a $10.00 price target on shares of Laredo Petroleum and gave the company a “hold” rating in a research report on Tuesday. Tudor Pickering lowered shares of Laredo Petroleum from a “buy” rating to a “hold” rating in a research report on Thursday, May 10th. Robert W. Baird lowered shares of Laredo Petroleum from an “outperform” rating to a “neutral” rating in a research report on Thursday, May 3rd. Finally, ValuEngine lowered shares of Laredo Petroleum from a “sell” rating to a “strong sell” rating in a research report on Wednesday, May 2nd. Three equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have issued a buy rating to the company’s stock. Laredo Petroleum has an average rating of “Hold” and a consensus target price of $12.22.

NYSE LPI opened at $8.35 on Wednesday. Laredo Petroleum Inc has a 52 week low of $7.41 and a 52 week high of $13.40. The stock has a market cap of $1.88 billion, a PE ratio of 9.85, a price-to-earnings-growth ratio of 1.43 and a beta of 1.11. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 0.94.

Laredo Petroleum (NYSE:LPI) last announced its quarterly earnings data on Wednesday, August 1st. The oil and gas producer reported $0.25 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.29 by ($0.04). The company had revenue of $351.05 million for the quarter, compared to the consensus estimate of $225.75 million. Laredo Petroleum had a net margin of 51.05% and a return on equity of 25.80%. The company’s revenue was up 87.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.10 earnings per share. sell-side analysts forecast that Laredo Petroleum Inc will post 1.12 EPS for the current fiscal year.

Laredo Petroleum Company Profile

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.

Further Reading: Market Capitalization – What it Means for Investors

Institutional Ownership by Quarter for Laredo Petroleum (NYSE:LPI)

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