Systematic Financial Management LP Increases Position in Laredo Petroleum Inc (LPI)

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Systematic Financial Management LP boosted its stake in Laredo Petroleum Inc (NYSE:LPI) by 18.1% in the first quarter, Holdings Channel reports. The fund owned 361,215 shares of the oil and gas producer’s stock after buying an additional 55,330 shares during the quarter. Systematic Financial Management LP’s holdings in Laredo Petroleum were worth $1,116,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Victory Capital Management Inc. lifted its stake in shares of Laredo Petroleum by 42.1% during the first quarter. Victory Capital Management Inc. now owns 46,694 shares of the oil and gas producer’s stock valued at $144,000 after buying an additional 13,825 shares during the period. Texas Permanent School Fund lifted its stake in shares of Laredo Petroleum by 3.8% during the first quarter. Texas Permanent School Fund now owns 103,240 shares of the oil and gas producer’s stock valued at $319,000 after buying an additional 3,758 shares during the period. SG Americas Securities LLC purchased a new position in shares of Laredo Petroleum during the first quarter valued at approximately $4,454,000. Cornerstone Investment Partners LLC purchased a new position in shares of Laredo Petroleum during the first quarter valued at approximately $51,000. Finally, Bank of Montreal Can lifted its stake in shares of Laredo Petroleum by 396.1% during the first quarter. Bank of Montreal Can now owns 485,678 shares of the oil and gas producer’s stock valued at $1,501,000 after buying an additional 387,781 shares during the period.

LPI has been the topic of several recent analyst reports. Zacks Investment Research raised shares of Laredo Petroleum from a “hold” rating to a “buy” rating and set a $3.50 price objective on the stock in a research note on Tuesday, April 30th. Raymond James set a $5.00 price target on shares of Laredo Petroleum and gave the stock a “buy” rating in a research note on Wednesday, January 23rd. MKM Partners reaffirmed a “neutral” rating and set a $3.00 price target (down previously from $5.00) on shares of Laredo Petroleum in a research note on Friday, February 15th. Societe Generale downgraded shares of Laredo Petroleum from a “buy” rating to a “hold” rating in a research note on Friday, February 15th. Finally, Williams Capital reaffirmed a “hold” rating and set a $5.00 price target on shares of Laredo Petroleum in a research note on Wednesday, January 23rd. Three investment analysts have rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the company’s stock. Laredo Petroleum has an average rating of “Hold” and an average price target of $7.07.

NYSE:LPI traded down $0.03 during trading hours on Monday, reaching $3.31. 29,151 shares of the company were exchanged, compared to its average volume of 5,447,313. Laredo Petroleum Inc has a 52-week low of $2.80 and a 52-week high of $10.43. The company has a market cap of $790.09 million, a P/E ratio of 3.57 and a beta of 1.45. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.92.

Laredo Petroleum (NYSE:LPI) last released its quarterly earnings data on Wednesday, May 1st. The oil and gas producer reported $0.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $0.02. Laredo Petroleum had a net margin of 21.68% and a return on equity of 17.30%. The company had revenue of $208.95 million during the quarter, compared to analyst estimates of $198.64 million. During the same quarter in the prior year, the business earned $0.24 earnings per share. The business’s quarterly revenue was down 19.5% compared to the same quarter last year. Research analysts forecast that Laredo Petroleum Inc will post 0.73 earnings per share for the current fiscal year.

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Laredo Petroleum Profile

Laredo Petroleum, Inc, an independent energy company, engages in the acquisition, exploration, and development of oil and natural gas properties in the Permian Basin of West Texas, the United States. The company also provides midstream and marketing services comprising transportation and marketing of oil and natural gas; and natural gas lift systems, crude oil and natural gas gathering, and water delivery and takeaway services.

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

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