Louisiana State Employees Retirement System purchased a new stake in shares of Laredo Petroleum Inc (NYSE:LPI) during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 67,400 shares of the oil and gas producer’s stock, valued at approximately $551,000.
Other large investors have also bought and sold shares of the company. Martingale Asset Management L P acquired a new position in Laredo Petroleum during the second quarter valued at $100,000. Creative Planning acquired a new position in Laredo Petroleum during the second quarter valued at $108,000. First Hawaiian Bank acquired a new position in Laredo Petroleum during the third quarter valued at $120,000. Point72 Hong Kong Ltd acquired a new position in Laredo Petroleum during the second quarter valued at $155,000. Finally, Cim Investment Mangement Inc. acquired a new position in Laredo Petroleum during the second quarter valued at $234,000.
Several research analysts recently weighed in on LPI shares. Williams Capital reissued a “hold” rating and set a $10.00 price target on shares of Laredo Petroleum in a research report on Tuesday, August 21st. Piper Jaffray Companies set a $14.00 price target on Laredo Petroleum and gave the company a “buy” rating in a research report on Sunday, August 5th. Finally, Bank of America dropped their price target on Laredo Petroleum from $12.00 to $11.00 and set an “underperform” rating on the stock in a research report on Thursday, August 2nd. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $12.43.
In other Laredo Petroleum news, Director Peter Kagan sold 12,300,000 shares of the company’s stock in a transaction dated Thursday, September 27th. The stock was sold at an average price of $8.08, for a total value of $99,384,000.00. Following the transaction, the director now directly owns 115,107 shares of the company’s stock, valued at approximately $930,064.56. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, major shareholder Pincus Private Equity Warburg sold 14,200,000 shares of the company’s stock in a transaction dated Tuesday, September 11th. The stock was sold at an average price of $7.42, for a total value of $105,364,000.00. The disclosure for this sale can be found here. Corporate insiders own 2.20% of the company’s stock.
Shares of LPI stock opened at $6.05 on Friday. 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 Inc has a fifty-two week low of $5.97 and a fifty-two week high of $12.50. The stock has a market capitalization of $1.48 billion, a price-to-earnings ratio of 10.30, a PEG ratio of 1.13 and a beta of 1.21.
Laredo Petroleum (NYSE:LPI) last issued its earnings results on Wednesday, August 1st. The oil and gas producer reported $0.25 earnings per share for the quarter, missing the consensus estimate of $0.29 by ($0.04). Laredo Petroleum had a return on equity of 25.80% and a net margin of 51.05%. The firm had revenue of $351.05 million during the quarter, compared to analyst estimates of $225.75 million. During the same period in the previous year, the company earned $0.10 earnings per share. The business’s revenue for the quarter was up 87.7% on a year-over-year basis. Equities research analysts expect that Laredo Petroleum Inc will post 1.12 earnings per share for the current fiscal year.
Laredo Petroleum 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.
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