Icon Advisers Inc. Co. Buys 33,050 Shares of Laredo Petroleum, Inc. (NYSE:LPI)

Icon Advisers Inc. Co. raised its position in Laredo Petroleum, Inc. (NYSE:LPI) by 7.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 483,150 shares of the oil and gas producer’s stock after acquiring an additional 33,050 shares during the quarter. Icon Advisers Inc. Co. owned 0.20% of Laredo Petroleum worth $6,247,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in LPI. Legal & General Group Plc increased its holdings in shares of Laredo Petroleum by 157.2% during the first quarter. Legal & General Group Plc now owns 51,379 shares of the oil and gas producer’s stock valued at $750,000 after purchasing an additional 31,401 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of Laredo Petroleum by 153.4% during the first quarter. Dimensional Fund Advisors LP now owns 2,368,993 shares of the oil and gas producer’s stock valued at $34,586,000 after purchasing an additional 1,434,079 shares during the period. UBS Group AG increased its holdings in shares of Laredo Petroleum by 77.4% during the first quarter. UBS Group AG now owns 41,462 shares of the oil and gas producer’s stock valued at $606,000 after purchasing an additional 18,092 shares during the period. BlackRock Inc. increased its holdings in shares of Laredo Petroleum by 2,500.3% during the first quarter. BlackRock Inc. now owns 7,598,973 shares of the oil and gas producer’s stock valued at $110,946,000 after purchasing an additional 7,306,738 shares during the period. Finally, Schwab Charles Investment Management Inc. increased its holdings in shares of Laredo Petroleum by 17.7% during the first quarter. Schwab Charles Investment Management Inc. now owns 501,560 shares of the oil and gas producer’s stock valued at $7,323,000 after purchasing an additional 75,445 shares during the period.

Shares of Laredo Petroleum, Inc. (NYSE LPI) opened at $9.88 on Friday. The company has a market capitalization of $2,497.88, a PE ratio of 21.02, a P/E/G ratio of 4.12 and a beta of 1.33. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 4.16. Laredo Petroleum, Inc. has a fifty-two week low of $9.55 and a fifty-two week high of $15.55.

Laredo Petroleum (NYSE:LPI) last announced its quarterly earnings results on Wednesday, November 1st. The oil and gas producer reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.14 by ($0.01). Laredo Petroleum had a return on equity of 43.77% and a net margin of 15.92%. The business had revenue of $205.82 million during the quarter, compared to the consensus estimate of $178.48 million. During the same quarter last year, the company earned $0.12 earnings per share. The firm’s revenue was up 28.9% compared to the same quarter last year. equities analysts expect that Laredo Petroleum, Inc. will post 0.5 EPS for the current fiscal year.

A number of brokerages recently weighed in on LPI. Stifel Nicolaus reiterated a “buy” rating and set a $17.00 price target on shares of Laredo Petroleum in a report on Wednesday, October 4th. Zacks Investment Research upgraded Laredo Petroleum from a “hold” rating to a “buy” rating and set a $14.00 price target for the company in a report on Tuesday, October 17th. Piper Jaffray Companies restated a “buy” rating and issued a $15.00 target price on shares of Laredo Petroleum in a report on Wednesday, November 22nd. Barclays restated a “buy” rating on shares of Laredo Petroleum in a report on Thursday, November 23rd. Finally, Cowen restated a “hold” rating and issued a $12.00 target price on shares of Laredo Petroleum in a report on Sunday, September 17th. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and eight have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $14.27.

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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)

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