UBS Asset Management Americas Inc. lowered its stake in shares of Laredo Petroleum Inc (NYSE:LPI) by 4.1% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 291,501 shares of the oil and gas producer’s stock after selling 12,480 shares during the quarter. UBS Asset Management Americas Inc. owned 0.12% of Laredo Petroleum worth $3,093,000 at the end of the most recent quarter.
Several other institutional investors also recently bought and sold shares of LPI. Nationwide Fund Advisors purchased a new stake in shares of Laredo Petroleum during the 3rd quarter valued at $4,282,000. Prudential Financial Inc. raised its position in shares of Laredo Petroleum by 55.3% during the 3rd quarter. Prudential Financial Inc. now owns 2,102,969 shares of the oil and gas producer’s stock valued at $27,191,000 after buying an additional 748,457 shares in the last quarter. Alps Advisors Inc. purchased a new stake in shares of Laredo Petroleum during the 3rd quarter valued at $499,000. BNP Paribas Arbitrage SA raised its position in Laredo Petroleum by 64.2% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 27,485 shares of the oil and gas producer’s stock worth $355,000 after purchasing an additional 10,750 shares during the period. Finally, Sei Investments Co. raised its position in Laredo Petroleum by 13.2% in the 3rd quarter. Sei Investments Co. now owns 433,431 shares of the oil and gas producer’s stock worth $5,605,000 after purchasing an additional 50,606 shares during the period.
A number of brokerages recently commented on LPI. Williams Capital reiterated a “hold” rating and issued a $13.00 target price on shares of Laredo Petroleum in a research report on Thursday, January 25th. Zacks Investment Research upgraded shares of Laredo Petroleum from a “hold” rating to a “buy” rating and set a $13.00 target price on the stock in a research report on Wednesday, January 24th. BMO Capital Markets reiterated a “hold” rating and issued a $12.00 target price on shares of Laredo Petroleum in a research report on Thursday, January 11th. National Securities began coverage on shares of Laredo Petroleum in a research report on Tuesday, January 16th. They issued a “buy” rating on the stock. Finally, Piper Jaffray reiterated a “buy” rating and issued a $16.00 target price on shares of Laredo Petroleum in a research report on Tuesday, January 9th. Three equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and six have issued a buy rating to the stock. Laredo Petroleum currently has a consensus rating of “Hold” and an average price target of $12.56.
Shares of LPI stock traded down $0.23 during mid-day trading on Friday, reaching $8.57. The stock had a trading volume of 2,991,515 shares, compared to its average volume of 2,847,654. Laredo Petroleum Inc has a 52-week low of $7.41 and a 52-week high of $15.11. The stock has a market capitalization of $2,134.31, a price-to-earnings ratio of 14.28, a PEG ratio of 1.73 and a beta of 1.22. 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 released its quarterly earnings data on Wednesday, February 14th. The oil and gas producer reported $0.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.18 by $0.01. Laredo Petroleum had a net margin of 66.77% and a return on equity of 30.02%. The firm had revenue of $240.34 million for the quarter, compared to analysts’ expectations of $212.57 million. During the same quarter in the previous year, the company earned $0.16 earnings per share. The company’s revenue for the quarter was up 30.4% compared to the same quarter last year. equities analysts predict that Laredo Petroleum Inc will post 1.01 EPS for the current year.
Laredo Petroleum announced that its Board of Directors has authorized a share repurchase plan on Wednesday, February 14th that authorizes the company to buyback $200.00 million in outstanding shares. This buyback authorization authorizes the oil and gas producer to reacquire shares of its stock through open market purchases. Shares buyback plans are often a sign that the company’s management believes its stock is undervalued.
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Laredo Petroleum Company 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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