Paloma Partners Management Co lessened its stake in shares of Laredo Petroleum Inc (NYSE:LPI) by 6.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 114,830 shares of the oil and gas producer’s stock after selling 8,285 shares during the quarter. Paloma Partners Management Co’s holdings in Laredo Petroleum were worth $1,219,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors also recently bought and sold shares of the stock. HBK Investments L P increased its position in Laredo Petroleum by 340.6% during the 4th quarter. HBK Investments L P now owns 277,200 shares of the oil and gas producer’s stock worth $2,941,000 after purchasing an additional 214,288 shares in the last quarter. Goldman Sachs Group Inc. increased its position in Laredo Petroleum by 67.8% during the 4th quarter. Goldman Sachs Group Inc. now owns 2,955,803 shares of the oil and gas producer’s stock worth $31,361,000 after purchasing an additional 1,194,099 shares in the last quarter. Deutsche Bank AG grew its holdings in Laredo Petroleum by 2,834.0% in the 4th quarter. Deutsche Bank AG now owns 3,431,666 shares of the oil and gas producer’s stock valued at $36,406,000 after buying an additional 3,314,704 shares during the period. SailingStone Capital Partners LLC grew its holdings in Laredo Petroleum by 3.3% in the 4th quarter. SailingStone Capital Partners LLC now owns 39,629,061 shares of the oil and gas producer’s stock valued at $420,464,000 after buying an additional 1,251,905 shares during the period. Finally, SIR Capital Management L.P. purchased a new stake in Laredo Petroleum in the 4th quarter valued at about $6,589,000.
LPI has been the subject of several recent analyst reports. Credit Suisse Group initiated coverage on Laredo Petroleum in a report on Monday, December 11th. They issued a “neutral” rating and a $12.00 price target for the company. Piper Jaffray Companies restated a “buy” rating and issued a $15.00 price target on shares of Laredo Petroleum in a report on Wednesday, November 22nd. Stifel Nicolaus set a $15.00 price target on Laredo Petroleum and gave the company a “buy” rating in a report on Monday, January 29th. Williams Capital restated a “hold” rating and issued a $13.00 price target on shares of Laredo Petroleum in a report on Thursday, January 25th. Finally, JPMorgan Chase & Co. cut Laredo Petroleum from a “neutral” rating to an “underweight” rating and set a $13.00 price target for the company. in a report on Friday, December 15th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and six have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $12.75.
Laredo Petroleum Inc (LPI) opened at $8.53 on Friday. The firm has a market capitalization of $2,068.82, a PE ratio of 3.74, a PEG ratio of 1.68 and a beta of 1.30. Laredo Petroleum Inc has a 52 week low of $7.41 and a 52 week high of $15.15. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.03.
Laredo Petroleum (NYSE:LPI) last released its quarterly earnings data on Wednesday, February 14th. The oil and gas producer reported $0.19 earnings per share for the quarter, beating the consensus estimate of $0.18 by $0.01. The business had revenue of $240.34 million for the quarter, compared to analyst estimates of $212.57 million. Laredo Petroleum had a return on equity of 30.02% and a net margin of 66.77%. The company’s revenue was up 30.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.16 EPS. sell-side analysts anticipate that Laredo Petroleum Inc will post 1.02 earnings per share for the current fiscal year.
Laredo Petroleum declared that its board has authorized a stock repurchase plan on Wednesday, February 14th that permits the company to repurchase $200.00 million in outstanding shares. This repurchase authorization permits the oil and gas producer to repurchase shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.
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Laredo Petroleum 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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