Short Interest in Laredo Petroleum Inc (NYSE:LPI) Decreases By 8.4%

Laredo Petroleum Inc (NYSE:LPI) was the recipient of a significant decline in short interest in December. As of December 31st, there was short interest totalling 38,840,000 shares, a decline of 8.4% from the December 15th total of 42,420,000 shares. Based on an average daily volume of 5,190,000 shares, the short-interest ratio is presently 7.5 days. Approximately 21.7% of the company’s stock are sold short.

Several equities research analysts have weighed in on the stock. ValuEngine raised shares of Laredo Petroleum from a “sell” rating to a “hold” rating in a research note on Friday, January 3rd. Stifel Nicolaus lifted their price target on shares of Laredo Petroleum from $5.50 to $5.60 and gave the company a “buy” rating in a research note on Tuesday, December 10th. Zacks Investment Research raised shares of Laredo Petroleum from a “hold” rating to a “strong-buy” rating and set a $3.00 price target for the company in a research note on Wednesday. Wells Fargo & Co decreased their price target on shares of Laredo Petroleum from $5.00 to $4.00 and set an “equal weight” rating for the company in a research note on Thursday, January 9th. Finally, Williams Capital reaffirmed a “buy” rating and issued a $4.50 price target on shares of Laredo Petroleum in a research note on Tuesday, December 10th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Hold” and an average price target of $4.39.

Several large investors have recently bought and sold shares of LPI. First Trust Advisors LP boosted its stake in shares of Laredo Petroleum by 79.2% during the 1st quarter. First Trust Advisors LP now owns 589,417 shares of the oil and gas producer’s stock worth $1,821,000 after buying an additional 260,525 shares during the last quarter. Russell Investments Group Ltd. boosted its stake in shares of Laredo Petroleum by 10.9% during the 2nd quarter. Russell Investments Group Ltd. now owns 485,681 shares of the oil and gas producer’s stock worth $1,409,000 after buying an additional 47,860 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Laredo Petroleum by 6.9% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 941,664 shares of the oil and gas producer’s stock worth $2,731,000 after buying an additional 60,634 shares during the last quarter. LPL Financial LLC acquired a new position in shares of Laredo Petroleum during the 2nd quarter worth about $33,000. Finally, Northern Trust Corp boosted its stake in shares of Laredo Petroleum by 1.9% during the 2nd quarter. Northern Trust Corp now owns 2,004,506 shares of the oil and gas producer’s stock worth $5,813,000 after buying an additional 36,564 shares during the last quarter. 96.77% of the stock is owned by institutional investors.

Shares of NYSE:LPI traded down $0.01 during midday trading on Thursday, hitting $2.46. 5,926,600 shares of the company’s stock were exchanged, compared to its average volume of 6,338,055. The company has a debt-to-equity ratio of 0.92, a current ratio of 1.54 and a quick ratio of 1.54. The stock has a 50 day moving average price of $2.63 and a 200-day moving average price of $2.61. The company has a market cap of $604.69 million, a PE ratio of 2.65 and a beta of 1.79. Laredo Petroleum has a 12 month low of $2.03 and a 12 month high of $4.00.

Laredo Petroleum (NYSE:LPI) last posted its earnings results on Tuesday, November 5th. The oil and gas producer reported $0.21 EPS for the quarter, topping the consensus estimate of $0.19 by $0.02. The company had revenue of $193.57 million during the quarter, compared to the consensus estimate of $215.83 million. Laredo Petroleum had a net margin of 5.87% and a return on equity of 14.25%. During the same period in the previous year, the firm posted $0.27 earnings per share. On average, analysts anticipate that Laredo Petroleum will post 0.79 EPS for the current fiscal year.

Laredo Petroleum Company 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.

Read More: Investing in Dividend Stocks

Receive News & Ratings for Laredo Petroleum Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Laredo Petroleum and related companies with MarketBeat.com's FREE daily email newsletter.