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.
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.
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