Advisory Services Network LLC Makes New Investment in Laredo Petroleum Inc (NYSE:LPI)

Advisory Services Network LLC acquired a new stake in Laredo Petroleum Inc (NYSE:LPI) during the second quarter, according to its most recent …

Laredo Petroleum logoAdvisory Services Network LLC acquired a new stake in Laredo Petroleum Inc (NYSE:LPI) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 59,210 shares of the oil and gas producer’s stock, valued at approximately $172,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Municipal Employees Retirement System of Michigan increased its holdings in Laredo Petroleum by 25.3% during the second quarter. Municipal Employees Retirement System of Michigan now owns 72,900 shares of the oil and gas producer’s stock worth $211,000 after buying an additional 14,730 shares during the last quarter. Aperio Group LLC increased its holdings in Laredo Petroleum by 53.1% during the second quarter. Aperio Group LLC now owns 270,113 shares of the oil and gas producer’s stock worth $783,000 after buying an additional 93,693 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. acquired a new position in Laredo Petroleum during the second quarter worth $603,000. Arizona State Retirement System increased its holdings in Laredo Petroleum by 1.7% during the second quarter. Arizona State Retirement System now owns 238,516 shares of the oil and gas producer’s stock worth $692,000 after buying an additional 3,957 shares during the last quarter. Finally, Birch Hill Investment Advisors LLC acquired a new position in Laredo Petroleum during the second quarter worth $56,000. Institutional investors own 94.61% of the company’s stock.

LPI stock traded up $0.01 during midday trading on Friday, reaching $2.67. 4,229,720 shares of the company were exchanged, compared to its average volume of 4,812,926. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.13 and a quick ratio of 1.13. The business has a 50-day moving average price of $2.70 and a two-hundred day moving average price of $2.96. Laredo Petroleum Inc has a one year low of $2.26 and a one year high of $9.03. The firm has a market capitalization of $634.05 million, a price-to-earnings ratio of 2.87 and a beta of 1.59.

Laredo Petroleum (NYSE:LPI) last released its quarterly earnings data on Wednesday, July 31st. The oil and gas producer reported $0.24 EPS for the quarter, topping the Zacks’ consensus estimate of $0.19 by $0.05. Laredo Petroleum had a net margin of 40.05% and a return on equity of 15.59%. The firm had revenue of $216.60 million during the quarter, compared to analysts’ expectations of $213.24 million. During the same period in the previous year, the business posted $0.25 earnings per share. The company’s revenue for the quarter was down 38.3% compared to the same quarter last year. As a group, analysts anticipate that Laredo Petroleum Inc will post 0.75 earnings per share for the current fiscal year.

In other Laredo Petroleum news, major shareholder Warburg Pincus Llc sold 69,874 shares of Laredo Petroleum stock in a transaction on Monday, August 12th. The shares were sold at an average price of $2.76, for a total transaction of $192,852.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 3.00% of the company’s stock.

A number of equities analysts recently weighed in on the stock. Credit Suisse Group upgraded shares of Laredo Petroleum from an “underperform” rating to a “neutral” rating and set a $2.83 target price on the stock in a report on Tuesday, July 9th. They noted that the move was a valuation call. JPMorgan Chase & Co. upgraded shares of Laredo Petroleum from an “underweight” rating to a “neutral” rating in a report on Wednesday, July 31st. Capital One Financial upgraded shares of Laredo Petroleum from an “underweight” rating to an “equal weight” rating and set a $7.00 target price on the stock in a report on Thursday, May 23rd. Finally, Zacks Investment Research downgraded shares of Laredo Petroleum from a “buy” rating to a “hold” rating in a report on Wednesday, July 24th. Seven research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $4.80.

About Laredo Petroleum

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.

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

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59210 Shares in Laredo Petroleum Inc (NYSE:LPI) Bought by Advisory Services Network LLC

Advisory Services Network LLC purchased a new stake in Laredo Petroleum Inc (NYSE:LPI) in the second quarter, according to the company in its …

Laredo Petroleum logoAdvisory Services Network LLC purchased a new stake in Laredo Petroleum Inc (NYSE:LPI) in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 59,210 shares of the oil and gas producer’s stock, valued at approximately $172,000.

A number of other hedge funds also recently bought and sold shares of the stock. Cornerstone Investment Partners LLC acquired a new position in Laredo Petroleum during the first quarter worth about $51,000. Birch Hill Investment Advisors LLC acquired a new position in Laredo Petroleum during the second quarter worth about $56,000. Virtu Financial LLC raised its stake in Laredo Petroleum by 14.5% during the first quarter. Virtu Financial LLC now owns 29,013 shares of the oil and gas producer’s stock worth $90,000 after acquiring an additional 3,680 shares in the last quarter. WINTON GROUP Ltd acquired a new position in Laredo Petroleum during the second quarter worth about $104,000. Finally, Aureus Asset Management LLC acquired a new position in Laredo Petroleum during the first quarter worth about $111,000. 94.61% of the stock is owned by institutional investors and hedge funds.

In other news, major shareholder Warburg Pincus Llc sold 69,874 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $2.76, for a total value of $192,852.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 3.00% of the company’s stock.

Shares of Laredo Petroleum stock traded up $0.01 on Friday, hitting $2.67. The stock had a trading volume of 4,229,720 shares, compared to its average volume of 4,812,926. The stock has a 50 day moving average of $2.70 and a 200 day moving average of $2.96. Laredo Petroleum Inc has a twelve month low of $2.26 and a twelve month high of $9.03. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.13 and a current ratio of 1.13. The firm has a market capitalization of $634.05 million, a P/E ratio of 2.87 and a beta of 1.59.

Laredo Petroleum (NYSE:LPI) last released its quarterly earnings data on Wednesday, July 31st. The oil and gas producer reported $0.24 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.19 by $0.05. Laredo Petroleum had a return on equity of 15.59% and a net margin of 40.05%. The company had revenue of $216.60 million during the quarter, compared to the consensus estimate of $213.24 million. During the same quarter in the prior year, the firm posted $0.25 earnings per share. The firm’s revenue was down 38.3% compared to the same quarter last year. Equities analysts expect that Laredo Petroleum Inc will post 0.75 earnings per share for the current year.

Several brokerages have commented on LPI. Credit Suisse Group raised Laredo Petroleum from an “underperform” rating to a “neutral” rating and set a $2.83 target price for the company in a research note on Tuesday, July 9th. They noted that the move was a valuation call. Capital One Financial raised Laredo Petroleum from an “underweight” rating to an “equal weight” rating and set a $7.00 target price for the company in a research note on Thursday, May 23rd. Zacks Investment Research downgraded Laredo Petroleum from a “buy” rating to a “hold” rating in a research note on Wednesday, July 24th. Finally, JPMorgan Chase & Co. raised Laredo Petroleum from an “underweight” rating to a “neutral” rating in a research note on Wednesday, July 31st. Seven analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $4.80.

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.

Further Reading: How Does the Quiet Period Work?

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

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Sentiment Change Report: Laredo Petroleum Inc (NYSE:LPI)

Laredo Petroleum Inc (NYSE:LPI) institutional sentiment increased to 1.1 in Q2 2019. Its up 0.10, from 1 in 2019Q1. The ratio improved, as 74 funds …

Laredo Petroleum, Inc. (NYSE:LPI) Logo

Sentiment for Laredo Petroleum Inc (NYSE:LPI)

Laredo Petroleum Inc (NYSE:LPI) institutional sentiment increased to 1.1 in Q2 2019. Its up 0.10, from 1 in 2019Q1. The ratio improved, as 74 funds started new and increased positions, while 67 reduced and sold stakes in Laredo Petroleum Inc. The funds in our partner’s database now hold: 219.98 million shares, down from 223.03 million shares in 2019Q1. Also, the number of funds holding Laredo Petroleum Inc in their top 10 positions was flat from 2 to 2 for the same number . Sold All: 27 Reduced: 40 Increased: 47 New Position: 27.

Laredo Petroleum, Inc. operates as an independent energy firm in the United States. The company has market cap of $634.05 million. It operates through two divisions, Exploration and Production of Oil and Natural Gas Properties; and Midstream and Marketing. It has a 1.68 P/E ratio. It focuses on 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.

The stock increased 0.38% or $0.01 during the last trading session, reaching $2.67. About 4.23M shares traded. Laredo Petroleum, Inc. (NYSE:LPI) has declined 65.02% since September 14, 2018 and is downtrending. It has underperformed by 65.02% the S&P500.

Analysts await Laredo Petroleum, Inc. (NYSE:LPI) to report earnings on November, 4. They expect $0.20 EPS, down 25.93 % or $0.07 from last year’s $0.27 per share. LPI’s profit will be $47.49M for 3.34 P/E if the $0.20 EPS becomes a reality. After $0.24 actual EPS reported by Laredo Petroleum, Inc. for the previous quarter, Wall Street now forecasts -16.67 % negative EPS growth.

Sailingstone Capital Partners Llc holds 8.84% of its portfolio in Laredo Petroleum, Inc. for 29.61 million shares. Warburg Pincus Llc owns 51.17 million shares or 2.33% of their US portfolio. Moreover, Caymus Capital Partners L.P. has 1.34% invested in the company for 2.09 million shares. The Connecticut-based Corecommodity Management Llc has invested 1.02% in the stock. Luminus Management Llc, a New York-based fund reported 10.70 million shares.

More notable recent Laredo Petroleum, Inc. (NYSE:LPI) news were published by: Finance.Yahoo.com which released: “Here’s What Hedge Funds Think About Laredo Petroleum Inc (LPI) – Yahoo Finance” on May 05, 2019, also Finance.Yahoo.com with their article: “These 4 Measures Indicate That Laredo Petroleum (NYSE:LPI) Is Using Debt Extensively – Yahoo Finance” published on August 05, 2019, Hellenicshippingnews.com published: “Oil report: bankruptcies in the oil patch are piling up – Hellenic Shipping News Worldwide” on August 26, 2019. More interesting news about Laredo Petroleum, Inc. (NYSE:LPI) were released by: Globenewswire.com and their article: “Laredo Petroleum Announces Leadership Changes NYSE:LPI – GlobeNewswire” published on April 02, 2019 as well as Finance.Yahoo.com‘s news article titled: “Investors Who Bought Laredo Petroleum (NYSE:LPI) Shares Five Years Ago Are Now Down 88% – Yahoo Finance” with publication date: May 08, 2019.

Laredo Petroleum, Inc. (NYSE:LPI) Institutional Positions Chart

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Laredo Petroleum Inc (NYSE:LPI) Shifting Institutional Investors Sentiment

Laredo Petroleum Inc (NYSE:LPI) institutional sentiment increased to 1.1 in 2019 Q2. Its up 0.10, from 1 in 2019Q1. The ratio has increased, as 74 …

Laredo Petroleum, Inc. (NYSE:LPI) Logo

Sentiment for Laredo Petroleum Inc (NYSE:LPI)

Laredo Petroleum Inc (NYSE:LPI) institutional sentiment increased to 1.1 in 2019 Q2. Its up 0.10, from 1 in 2019Q1. The ratio has increased, as 74 hedge funds started new and increased stock positions, while 67 decreased and sold their holdings in Laredo Petroleum Inc. The hedge funds in our partner’s database now possess: 219.98 million shares, down from 223.03 million shares in 2019Q1. Also, the number of hedge funds holding Laredo Petroleum Inc in their top 10 stock positions was flat from 2 to 2 for the same number . Sold All: 27 Reduced: 40 Increased: 47 New Position: 27.

Laredo Petroleum, Inc. operates as an independent energy firm in the United States. The company has market cap of $634.05 million. It operates through two divisions, Exploration and Production of Oil and Natural Gas Properties; and Midstream and Marketing. It has a 1.68 P/E ratio. It focuses on 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.

The stock increased 0.38% or $0.01 during the last trading session, reaching $2.67. About 4.23M shares traded. Laredo Petroleum, Inc. (NYSE:LPI) has declined 65.02% since September 14, 2018 and is downtrending. It has underperformed by 65.02% the S&P500.

Analysts await Laredo Petroleum, Inc. (NYSE:LPI) to report earnings on November, 4. They expect $0.20 EPS, down 25.93 % or $0.07 from last year’s $0.27 per share. LPI’s profit will be $47.49 million for 3.34 P/E if the $0.20 EPS becomes a reality. After $0.24 actual EPS reported by Laredo Petroleum, Inc. for the previous quarter, Wall Street now forecasts -16.67 % negative EPS growth.

Sailingstone Capital Partners Llc holds 8.84% of its portfolio in Laredo Petroleum, Inc. for 29.61 million shares. Warburg Pincus Llc owns 51.17 million shares or 2.33% of their US portfolio. Moreover, Caymus Capital Partners L.P. has 1.34% invested in the company for 2.09 million shares. The Connecticut-based Corecommodity Management Llc has invested 1.02% in the stock. Luminus Management Llc, a New York-based fund reported 10.70 million shares.

More notable recent Laredo Petroleum, Inc. (NYSE:LPI) news were published by: Globenewswire.com which released: “Laredo Petroleum Announces Leadership Changes NYSE:LPI – GlobeNewswire” on April 02, 2019, also Hellenicshippingnews.com with their article: “Oil report: bankruptcies in the oil patch are piling up – Hellenic Shipping News Worldwide” published on August 26, 2019, Seekingalpha.com published: “Laredo Petroleum Q2 2019 Earnings Preview – Seeking Alpha” on July 30, 2019. More interesting news about Laredo Petroleum, Inc. (NYSE:LPI) were released by: Finance.Yahoo.com and their article: “Here’s What Hedge Funds Think About Laredo Petroleum Inc (LPI) – Yahoo Finance” published on May 05, 2019 as well as Finance.Yahoo.com‘s news article titled: “These 4 Measures Indicate That Laredo Petroleum (NYSE:LPI) Is Using Debt Extensively – Yahoo Finance” with publication date: August 05, 2019.

Laredo Petroleum, Inc. (NYSE:LPI) Institutional Positions Chart

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Laredo Petroleum Inc (NYSE:LPI) Shares Acquired by Connor Clark & Lunn Investment …

Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of Laredo Petroleum Inc (NYSE:LPI) by 49.3% during the 2nd quarter, …

Laredo Petroleum logoConnor Clark & Lunn Investment Management Ltd. grew its holdings in shares of Laredo Petroleum Inc (NYSE:LPI) by 49.3% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,145,600 shares of the oil and gas producer’s stock after buying an additional 378,300 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned 0.48% of Laredo Petroleum worth $3,322,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of LPI. Virtu Financial LLC grew its stake in Laredo Petroleum by 14.5% in the first quarter. Virtu Financial LLC now owns 29,013 shares of the oil and gas producer’s stock worth $90,000 after purchasing an additional 3,680 shares during the period. Texas Permanent School Fund boosted its holdings in Laredo Petroleum by 3.8% in the first quarter. Texas Permanent School Fund now owns 103,240 shares of the oil and gas producer’s stock worth $319,000 after acquiring an additional 3,758 shares in the last quarter. Arizona State Retirement System boosted its holdings in Laredo Petroleum by 1.7% in the second quarter. Arizona State Retirement System now owns 238,516 shares of the oil and gas producer’s stock worth $692,000 after acquiring an additional 3,957 shares in the last quarter. Victory Capital Management Inc. boosted its holdings in Laredo Petroleum by 42.1% in the first quarter. Victory Capital Management Inc. now owns 46,694 shares of the oil and gas producer’s stock worth $144,000 after acquiring an additional 13,825 shares in the last quarter. Finally, Municipal Employees Retirement System of Michigan boosted its holdings in Laredo Petroleum by 25.3% in the second quarter. Municipal Employees Retirement System of Michigan now owns 72,900 shares of the oil and gas producer’s stock worth $211,000 after acquiring an additional 14,730 shares in the last quarter. 94.61% of the stock is currently owned by hedge funds and other institutional investors.

Shares of LPI opened at $2.67 on Friday. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.77. The business has a 50-day simple moving average of $2.70 and a two-hundred day simple moving average of $2.96. The stock has a market cap of $634.05 million, a price-to-earnings ratio of 2.87 and a beta of 1.59. Laredo Petroleum Inc has a 52 week low of $2.26 and a 52 week high of $9.03.

Laredo Petroleum (NYSE:LPI) last issued its quarterly earnings results on Wednesday, July 31st. The oil and gas producer reported $0.24 EPS for the quarter, topping analysts’ consensus estimates of $0.19 by $0.05. Laredo Petroleum had a return on equity of 15.59% and a net margin of 40.05%. The business had revenue of $216.60 million during the quarter, compared to analysts’ expectations of $213.24 million. During the same quarter in the prior year, the business posted $0.25 earnings per share. The business’s quarterly revenue was down 38.3% on a year-over-year basis. On average, equities analysts anticipate that Laredo Petroleum Inc will post 0.75 earnings per share for the current fiscal year.

In related news, major shareholder Warburg Pincus Llc sold 69,874 shares of the stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $2.76, for a total transaction of $192,852.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 3.00% of the company’s stock.

LPI has been the topic of several analyst reports. Credit Suisse Group raised Laredo Petroleum from an “underperform” rating to a “neutral” rating and set a $2.83 target price on the stock in a report on Tuesday, July 9th. They noted that the move was a valuation call. Zacks Investment Research downgraded Laredo Petroleum from a “buy” rating to a “hold” rating in a report on Wednesday, July 24th. JPMorgan Chase & Co. raised Laredo Petroleum from an “underweight” rating to a “neutral” rating in a report on Wednesday, July 31st. Finally, Capital One Financial upgraded Laredo Petroleum from an “underweight” rating to an “equal weight” rating and set a $7.00 price objective for the company in a research report on Thursday, May 23rd. Seven investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Laredo Petroleum has a consensus rating of “Hold” and a consensus price target of $4.80.

About Laredo Petroleum

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.

Further Reading: Depreciation

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

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