Point72 Hong Kong Ltd purchased a new position in shares of Laredo Petroleum Inc (NYSE:LPI) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 16,069 shares of the oil and gas producer’s stock, valued at approximately $155,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Martingale Asset Management L P acquired a new position in Laredo Petroleum during the second quarter worth about $100,000. Creative Planning acquired a new position in Laredo Petroleum during the second quarter worth about $108,000. Victory Capital Management Inc. acquired a new position in Laredo Petroleum during the first quarter worth about $168,000. Aperio Group LLC grew its position in Laredo Petroleum by 52.7% during the first quarter. Aperio Group LLC now owns 26,848 shares of the oil and gas producer’s stock worth $234,000 after buying an additional 9,261 shares during the period. Finally, Cim Investment Mangement Inc. acquired a new position in Laredo Petroleum during the second quarter worth about $234,000.

LPI stock opened at $8.41 on Friday. The company has a market capitalization of $1.99 billion, a PE ratio of 14.02, a price-to-earnings-growth ratio of 1.53 and a beta of 1.26. Laredo Petroleum Inc has a 12 month low of $7.41 and a 12 month high of $13.40. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 0.94.

Laredo Petroleum (NYSE:LPI) last released its quarterly earnings results on Wednesday, August 1st. The oil and gas producer reported $0.25 EPS for the quarter, missing the consensus estimate of $0.29 by ($0.04). The business had revenue of $351.05 million during the quarter, compared to analyst estimates of $225.75 million. Laredo Petroleum had a net margin of 51.05% and a return on equity of 25.80%. The firm’s revenue for the quarter was up 87.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.10 earnings per share. equities analysts anticipate that Laredo Petroleum Inc will post 1.11 EPS for the current fiscal year.

Several brokerages have weighed in on LPI. Bank of America lowered their target price on shares of Laredo Petroleum from $12.00 to $11.00 and set an “underperform” rating on the stock in a research report on Thursday, August 2nd. Piper Jaffray Companies set a $14.00 target price on shares of Laredo Petroleum and gave the stock a “buy” rating in a research report on Sunday, August 5th. Finally, Williams Capital reiterated a “hold” rating and issued a $10.00 price target on shares of Laredo Petroleum in a research report on Tuesday, August 21st. Three investment analysts have rated the stock with a sell rating, twelve have given a hold rating and four have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $12.22.

In related news, major shareholder Pincus Private Equity Warburg sold 14,200,000 shares of the company’s stock in a transaction that occurred 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 sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 2.20% of the company’s stock.

Laredo Petroleum Profile

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: Understanding Compound Annual Growth Rate (CAGR)

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

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