15,000 Shares in Laredo Petroleum Inc (LPI) Acquired by Schneider Capital Management Corp

Schneider Capital Management Corp bought a new stake in Laredo Petroleum Inc (NYSE:LPI) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 15,000 shares of the oil and gas producer’s stock, valued at approximately $123,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Legal & General Group Plc lifted its stake in Laredo Petroleum by 20.0% in the 1st quarter. Legal & General Group Plc now owns 75,351 shares of the oil and gas producer’s stock valued at $657,000 after purchasing an additional 12,583 shares during the last quarter. Creative Planning bought a new position in Laredo Petroleum in the 2nd quarter valued at approximately $108,000. Aperio Group LLC lifted its stake in Laredo Petroleum by 435.2% in the 2nd quarter. Aperio Group LLC now owns 143,703 shares of the oil and gas producer’s stock valued at $1,382,000 after purchasing an additional 116,855 shares during the last quarter. New Amsterdam Partners LLC NY bought a new position in Laredo Petroleum in the 2nd quarter valued at approximately $2,902,000. Finally, First Trust Advisors LP lifted its stake in Laredo Petroleum by 563.5% in the 2nd quarter. First Trust Advisors LP now owns 296,874 shares of the oil and gas producer’s stock valued at $2,856,000 after purchasing an additional 252,132 shares during the last quarter.

LPI has been the subject of several research reports. Zacks Investment Research downgraded shares of Laredo Petroleum from a “buy” rating to a “hold” rating in a research note on Thursday, November 1st. Williams Capital reissued a “hold” rating and issued a $10.00 price objective on shares of Laredo Petroleum in a research note on Tuesday, August 21st. Piper Jaffray Companies set a $14.00 price objective on shares of Laredo Petroleum and gave the company a “buy” rating in a research note on Sunday, August 5th. Finally, Bank of America dropped their price objective on shares of Laredo Petroleum from $12.00 to $11.00 and set an “underperform” rating for the company in a research note on Thursday, August 2nd. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $11.42.

In other news, Director Peter Kagan sold 12,300,000 shares of the firm’s stock in a transaction on Thursday, September 27th. The shares were sold at an average price of $8.08, for a total transaction of $99,384,000.00. Following the completion of the transaction, the director now owns 115,107 shares of the company’s stock, valued at $930,064.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Pincus Private Equity Warburg sold 14,200,000 shares of the firm’s stock in a transaction on Tuesday, September 11th. The shares were sold at an average price of $7.42, for a total transaction of $105,364,000.00. The disclosure for this sale can be found here. 2.20% of the stock is currently owned by company insiders.

LPI stock opened at $5.12 on Monday. The firm has a market cap of $1.17 billion, a PE ratio of 8.49, a price-to-earnings-growth ratio of 0.96 and a beta of 1.59. Laredo Petroleum Inc has a 52-week low of $4.80 and a 52-week high of $11.68. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.95.

Laredo Petroleum (NYSE:LPI) last released its quarterly earnings results on Monday, November 5th. The oil and gas producer reported $0.27 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.30 by ($0.03). The business had revenue of $279.70 million for the quarter, compared to the consensus estimate of $276.95 million. Laredo Petroleum had a net margin of 51.61% and a return on equity of 24.30%. Laredo Petroleum’s revenue was up 35.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.13 EPS. On average, research analysts predict that Laredo Petroleum Inc will post 1.03 EPS for the current year.

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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.

Further Reading: How mutual funds make money

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

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