Goldman Sachs Group Inc. raised its position in Laredo Petroleum Inc (NYSE:LPI) by 67.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,955,803 shares of the oil and gas producer’s stock after purchasing an additional 1,194,099 shares during the period. Goldman Sachs Group Inc. owned about 1.22% of Laredo Petroleum worth $31,361,000 at the end of the most recent reporting period.
A number of other large investors have also recently added to or reduced their stakes in the business. HRT Financial LLC purchased a new position in shares of Laredo Petroleum during the 4th quarter worth about $117,000. State of Alaska Department of Revenue purchased a new position in shares of Laredo Petroleum during the 4th quarter worth about $123,000. Virtu Financial LLC purchased a new position in shares of Laredo Petroleum during the 4th quarter worth about $154,000. Great West Life Assurance Co. Can lifted its holdings in shares of Laredo Petroleum by 49.6% during the 3rd quarter. Great West Life Assurance Co. Can now owns 21,632 shares of the oil and gas producer’s stock worth $280,000 after acquiring an additional 7,174 shares during the period. Finally, Campbell & CO Investment Adviser LLC purchased a new position in shares of Laredo Petroleum during the 3rd quarter worth about $340,000.
Several brokerages have recently weighed in on LPI. BMO Capital Markets reiterated a “hold” rating and set a $12.00 price objective on shares of Laredo Petroleum in a report on Thursday, January 11th. Robert W. Baird cut their price objective on shares of Laredo Petroleum from $17.00 to $14.00 and set an “outperform” rating on the stock in a report on Monday, December 18th. Credit Suisse Group began coverage on shares of Laredo Petroleum in a report on Monday, December 11th. They set a “neutral” rating and a $12.00 price objective on the stock. Deutsche Bank began coverage on shares of Laredo Petroleum in a report on Thursday, February 1st. They set a “hold” rating and a $11.00 price objective on the stock. Finally, Zacks Investment Research lowered shares of Laredo Petroleum from a “strong-buy” rating to a “hold” rating in a report on Wednesday, January 31st. Two 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 presently has an average rating of “Hold” and an average price target of $12.75.
Shares of Laredo Petroleum Inc (NYSE:LPI) opened at $8.62 on Friday. The stock has a market cap of $2,199.79, a P/E ratio of 17.44, a P/E/G ratio of 1.77 and a beta of 1.30. Laredo Petroleum Inc has a 1 year low of $7.41 and a 1 year high of $15.15. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.03.
Laredo Petroleum (NYSE:LPI) last posted its earnings results on Wednesday, February 14th. The oil and gas producer reported $0.19 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.18 by $0.01. The firm had revenue of $240.34 million during the quarter, compared to the consensus estimate of $212.57 million. Laredo Petroleum had a net margin of 66.77% and a return on equity of 30.02%. The company’s revenue was up 30.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.16 EPS. analysts expect that Laredo Petroleum Inc will post 1.03 earnings per share for the current year.
Laredo Petroleum announced that its board has initiated a share buyback program on Wednesday, February 14th that allows the company to buyback $200.00 million in shares. This buyback authorization allows the oil and gas producer to buy shares of its stock through open market purchases. Shares buyback programs are often an indication that the company’s board believes its shares are undervalued.
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.
Receive News & Ratings for Laredo Petroleum Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Laredo Petroleum and related companies with MarketBeat.com's FREE daily email newsletter.