Rhumbline Advisers Buys 31,839 Shares of Laredo Petroleum, Inc. (LPI)

Rhumbline Advisers grew its stake in Laredo Petroleum, Inc. (NYSE:LPI) by 20.7% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 185,729 shares of the oil and gas producer’s stock after buying an additional 31,839 shares during the quarter. Rhumbline Advisers owned 0.08% of Laredo Petroleum worth $1,954,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of Laredo Petroleum by 20.9% in the 1st quarter. Vanguard Group Inc. now owns 14,906,724 shares of the oil and gas producer’s stock valued at $217,638,000 after buying an additional 2,578,127 shares during the period. BlackRock Inc. boosted its stake in shares of Laredo Petroleum by 2,500.3% in the 1st quarter. BlackRock Inc. now owns 7,598,973 shares of the oil and gas producer’s stock valued at $110,946,000 after buying an additional 7,306,738 shares during the period. State Street Corp boosted its stake in shares of Laredo Petroleum by 0.4% in the 1st quarter. State Street Corp now owns 5,011,171 shares of the oil and gas producer’s stock valued at $73,163,000 after buying an additional 18,750 shares during the period. Wellington Management Group LLP boosted its stake in shares of Laredo Petroleum by 25.2% in the 1st quarter. Wellington Management Group LLP now owns 4,311,310 shares of the oil and gas producer’s stock valued at $62,944,000 after buying an additional 869,100 shares during the period. Finally, Point72 Asset Management L.P. boosted its stake in shares of Laredo Petroleum by 150.2% in the 1st quarter. Point72 Asset Management L.P. now owns 3,748,400 shares of the oil and gas producer’s stock valued at $54,727,000 after buying an additional 2,250,300 shares during the period.

Laredo Petroleum, Inc. (NYSE LPI) opened at 12.29 on Friday. Laredo Petroleum, Inc. has a 52-week low of $9.57 and a 52-week high of $16.47. The firm has a market cap of $2.94 billion, a price-to-earnings ratio of 24.83 and a beta of 1.44. The firm’s 50-day moving average price is $12.18 and its 200 day moving average price is $12.40.

Laredo Petroleum (NYSE:LPI) last issued its quarterly earnings results on Monday, August 7th. The oil and gas producer reported $0.10 EPS for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.01). The business had revenue of $187.00 million during the quarter, compared to analysts’ expectations of $173.32 million. Laredo Petroleum had a net margin of 16.73% and a return on equity of 49.15%. The company’s revenue for the quarter was up 27.5% on a year-over-year basis. During the same period in the prior year, the company posted $0.13 EPS. On average, equities research analysts forecast that Laredo Petroleum, Inc. will post $0.51 EPS for the current year.

Several brokerages have recently issued reports on LPI. Zacks Investment Research upgraded Laredo Petroleum from a “sell” rating to a “hold” rating in a research note on Tuesday, August 1st. KeyCorp reiterated a “hold” rating on shares of Laredo Petroleum in a research note on Friday, September 1st. Williams Capital set a $14.00 price objective on Laredo Petroleum and gave the company a “hold” rating in a research note on Tuesday, August 8th. Cowen and Company set a $12.00 price objective on Laredo Petroleum and gave the company a “hold” rating in a research note on Tuesday, July 18th. Finally, BMO Capital Markets set a $14.00 price objective on Laredo Petroleum and gave the company a “hold” rating in a research note on Sunday, August 13th. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and eight have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $14.72.

TRADEMARK VIOLATION WARNING: “Rhumbline Advisers Buys 31,839 Shares of Laredo Petroleum, Inc. (LPI)” was posted by Equities Focus and is the sole property of of Equities Focus. If you are reading this piece of content on another site, it was stolen and reposted in violation of United States and international copyright & trademark law. The original version of this piece of content can be accessed at https://www.equitiesfocus.com/2017/09/17/rhumbline-advisers-buys-31839-shares-of-laredo-petroleum-inc-lpi.html.

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.

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

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

Leave a Reply