Laredo Petroleum, Inc. (LPI) Position Boosted by Amalgamated Bank
Amalgamated Bank raised its stake in shares of Laredo Petroleum, Inc. (NYSE:LPI) by 3.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 20,647 shares of the oil and gas producer’s stock after buying an additional 622 shares during the period. Amalgamated Bank’s holdings in Laredo Petroleum were worth $301,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Jennison Associates LLC raised its position in Laredo Petroleum by 67.4% in the first quarter. Jennison Associates LLC now owns 3,023,757 shares of the oil and gas producer’s stock valued at $44,147,000 after buying an additional 1,217,421 shares during the last quarter. Russell Investments Group Ltd. raised its position in Laredo Petroleum by 16,137.4% in the first quarter. Russell Investments Group Ltd. now owns 34,261 shares of the oil and gas producer’s stock valued at $500,000 after buying an additional 34,050 shares during the last quarter. Strs Ohio raised its position in Laredo Petroleum by 86.6% in the first quarter. Strs Ohio now owns 177,750 shares of the oil and gas producer’s stock valued at $2,595,000 after buying an additional 82,500 shares during the last quarter. First Quadrant L P CA raised its position in Laredo Petroleum by 5.8% in the first quarter. First Quadrant L P CA now owns 1,635,106 shares of the oil and gas producer’s stock valued at $23,873,000 after buying an additional 89,637 shares during the last quarter. Finally, Glen Harbor Capital Management LLC acquired a new position in Laredo Petroleum during the first quarter valued at $122,000.
Shares of Laredo Petroleum, Inc. (NYSE LPI) opened at 12.36 on Thursday. The stock’s 50 day moving average price is $10.96 and its 200 day moving average price is $12.91. Laredo Petroleum, Inc. has a 1-year low of $9.20 and a 1-year high of $16.47. The company’s market cap is $2.96 billion.
Laredo Petroleum (NYSE:LPI) last posted its quarterly earnings results on Wednesday, May 3rd. The oil and gas producer reported $0.10 EPS for the quarter, missing analysts’ consensus estimates of $0.11 by $0.01. Laredo Petroleum had a positive return on equity of 75.64% and a negative net margin of 1.78%. The business had revenue of $189 million for the quarter, compared to the consensus estimate of $164.39 million. During the same quarter in the previous year, the business posted $0.08 EPS. The company’s revenue for the quarter was up 77.3% on a year-over-year basis. Equities research analysts forecast that Laredo Petroleum, Inc. will post $0.54 earnings per share for the current year.
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Several research analysts recently weighed in on the company. Stifel Nicolaus assumed coverage on Laredo Petroleum in a research report on Wednesday, April 12th. They set a “buy” rating and a $18.00 price target on the stock. Seaport Global Securities raised Laredo Petroleum from a “neutral” rating to a “buy” rating in a research report on Friday, March 31st. Credit Suisse Group reaffirmed a “sell” rating and issued a $13.00 target price on shares of Laredo Petroleum in a research report on Friday, March 31st. Scotiabank set a $15.00 target price on Laredo Petroleum and gave the stock a “hold” rating in a research report on Monday, March 27th. Finally, Barclays PLC reaffirmed a “buy” rating and issued a $18.00 target price (down from $19.00) on shares of Laredo Petroleum in a research report on Thursday, April 20th. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and ten have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $14.63.
About Laredo Petroleum
Laredo Petroleum, Inc (Laredo) is an independent energy company. The Company is focused on the acquisition, exploration and development of oil and natural gas properties, and the transportation of oil and natural gas from such properties primarily in the Permian Basin in West Texas. It operates through two segments: Exploration and production of oil and natural gas properties, and Midstream and marketing.
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