Laredo Petroleum, Inc. (LPI) Shares Sold by Teachers Advisors LLC
Teachers Advisors LLC lowered its position in Laredo Petroleum, Inc. (NYSE:LPI) by 26.6% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 166,458 shares of the oil and gas producer’s stock after selling 60,244 shares during the period. Teachers Advisors LLC owned approximately 0.07% of Laredo Petroleum worth $2,430,000 as of its most recent SEC filing.
A number of other institutional investors also recently bought and sold shares of LPI. Glen Harbor Capital Management LLC acquired a new stake in shares of Laredo Petroleum during the first quarter worth approximately $122,000. IBM Retirement Fund boosted its stake in shares of Laredo Petroleum by 313.5% in the first quarter. IBM Retirement Fund now owns 48,048 shares of the oil and gas producer’s stock worth $702,000 after buying an additional 36,429 shares during the period. FIL Ltd acquired a new stake in shares of Laredo Petroleum during the first quarter worth approximately $1,527,000. Virginia Retirement Systems ET AL boosted its stake in shares of Laredo Petroleum by 12.3% in the first quarter. Virginia Retirement Systems ET AL now owns 28,860 shares of the oil and gas producer’s stock worth $421,000 after buying an additional 3,160 shares during the period. Finally, Neuburgh Advisers LLC acquired a new stake in shares of Laredo Petroleum during the first quarter worth approximately $259,000.
Shares of Laredo Petroleum, Inc. (NYSE:LPI) traded up 1.01% during midday trading on Thursday, hitting $11.96. 92,138 shares of the company were exchanged. The company has a 50-day moving average price of $11.74 and a 200-day moving average price of $12.68. Laredo Petroleum, Inc. has a 52-week low of $9.57 and a 52-week high of $16.47. The stock has a market capitalization of $2.86 billion, a price-to-earnings ratio of 24.16 and a beta of 1.41.
Laredo Petroleum (NYSE:LPI) last released its quarterly earnings results on Monday, August 7th. The oil and gas producer reported $0.10 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.11 by $0.01. Laredo Petroleum had a return on equity of 49.15% and a net margin of 16.73%. The business had revenue of $187 million during the quarter, compared to the consensus estimate of $173.32 million. During the same period in the previous year, the company posted $0.13 EPS. The company’s revenue for the quarter was up 27.5% compared to the same quarter last year. On average, analysts forecast that Laredo Petroleum, Inc. will post $0.50 EPS for the current year.
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A number of brokerages have recently commented on LPI. BMO Capital Markets set a $14.00 target price on shares of Laredo Petroleum and gave the company a “hold” rating in a research report on Sunday. Zacks Investment Research cut shares of Laredo Petroleum from a “hold” rating to a “sell” rating in a research report on Thursday, August 10th. Bank of America Corporation increased their target price on shares of Laredo Petroleum from $11.00 to $13.00 and gave the company an “underperform” rating in a research report on Tuesday, August 8th. Williams Capital set a $14.00 target price on shares of Laredo Petroleum and gave the company a “hold” rating in a research report on Tuesday, August 8th. Finally, Cowen and Company set a $12.00 target price on shares of Laredo Petroleum and gave the company a “hold” rating in a research report on Tuesday, July 18th. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and ten have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $14.87.
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.
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