Bank of America Corp DE boosted its stake in shares of Laredo Petroleum, Inc. (NYSE:LPI) by 121.2% during the first quarter, Holdings Channel reports. The institutional investor owned 168,972 shares of the oil and gas producer’s stock after buying an additional 92,598 shares during the period. Bank of America Corp DE’s holdings in Laredo Petroleum were worth $2,466,000 as of its most recent filing with the SEC.

Other hedge funds have also recently modified their holdings of the company. Amalgamated Bank increased its stake in shares of Laredo Petroleum by 3.1% in the first quarter. Amalgamated Bank now owns 20,647 shares of the oil and gas producer’s stock valued at $301,000 after buying an additional 622 shares in the last quarter. CIBC World Markets Inc. increased its stake in shares of Laredo Petroleum by 7.2% in the first quarter. CIBC World Markets Inc. now owns 17,010 shares of the oil and gas producer’s stock valued at $248,000 after buying an additional 1,136 shares in the last quarter. Teacher Retirement System of Texas increased its stake in shares of Laredo Petroleum by 13.0% in the first quarter. Teacher Retirement System of Texas now owns 12,416 shares of the oil and gas producer’s stock valued at $181,000 after buying an additional 1,429 shares in the last quarter. Virginia Retirement Systems ET AL increased its stake in shares of Laredo Petroleum by 12.3% in the first quarter. Virginia Retirement Systems ET AL now owns 28,860 shares of the oil and gas producer’s stock valued at $421,000 after buying an additional 3,160 shares in the last quarter. Finally, SG Americas Securities LLC increased its stake in shares of Laredo Petroleum by 3.4% in the first quarter. SG Americas Securities LLC now owns 125,497 shares of the oil and gas producer’s stock valued at $1,832,000 after buying an additional 4,113 shares in the last quarter.

Shares of Laredo Petroleum, Inc. (NYSE:LPI) traded up 1.14% during trading on Thursday, hitting $12.38. 1,692,817 shares of the stock traded hands. The company has a 50 day moving average of $11.42 and a 200-day moving average of $12.75. The company has a market cap of $2.96 billion, a PE ratio of 25.01 and a beta of 1.41. Laredo Petroleum, Inc. has a 1-year low of $9.57 and a 1-year high of $16.47.

Laredo Petroleum (NYSE:LPI) last announced its quarterly earnings data on Monday, August 7th. The oil and gas producer reported $0.10 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.11 by $0.01. The firm had revenue of $187 million for the quarter, compared to the consensus estimate of $173.32 million. Laredo Petroleum had a return on equity of 56.13% and a net margin of 16.73%. The business’s revenue for the quarter was up 27.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.13 earnings per share. On average, equities analysts anticipate that Laredo Petroleum, Inc. will post $0.49 EPS for the current fiscal year.

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Several brokerages recently weighed in on LPI. Scotiabank reiterated a “hold” rating and issued a $15.00 price objective on shares of Laredo Petroleum in a research report on Friday, May 5th. Seaport Global Securities downgraded shares of Laredo Petroleum from a “buy” rating to a “neutral” rating and cut their price objective for the company from $19.00 to $9.00 in a research report on Wednesday, June 21st. BidaskClub upgraded shares of Laredo Petroleum from a “sell” rating to a “hold” rating in a research report on Wednesday, July 12th. J P Morgan Chase & Co cut their price objective on shares of Laredo Petroleum from $14.00 to $13.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 31st. Finally, Bank of America Corporation began coverage on shares of Laredo Petroleum in a research report on Wednesday, July 19th. They issued an “underperform” rating and a $11.00 price objective on the stock. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and ten have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $14.63.

Laredo Petroleum Company Profile

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

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