QCM Cayman Ltd. Acquires Shares of 12,677 Laredo Petroleum, Inc. (LPI)
QCM Cayman Ltd. acquired a new stake in Laredo Petroleum, Inc. (NYSE:LPI) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 12,677 shares of the oil and gas producer’s stock, valued at approximately $133,000.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Teacher Retirement System of Texas raised its holdings in shares of Laredo Petroleum by 3.8% in the 2nd quarter. Teacher Retirement System of Texas now owns 12,884 shares of the oil and gas producer’s stock valued at $136,000 after buying an additional 468 shares during the period. Public Employees Retirement Association of Colorado lifted its stake in Laredo Petroleum by 1.6% during the 2nd quarter. Public Employees Retirement Association of Colorado now owns 35,230 shares of the oil and gas producer’s stock worth $371,000 after acquiring an additional 546 shares in the last quarter. Amalgamated Bank lifted its stake in Laredo Petroleum by 3.1% during the 1st quarter. Amalgamated Bank now owns 20,647 shares of the oil and gas producer’s stock worth $301,000 after acquiring an additional 622 shares in the last quarter. BNP Paribas Arbitrage SA lifted its stake in Laredo Petroleum by 4.8% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 16,735 shares of the oil and gas producer’s stock worth $176,000 after acquiring an additional 766 shares in the last quarter. Finally, Public Employees Retirement System of Ohio lifted its stake in Laredo Petroleum by 2.0% during the 1st quarter. Public Employees Retirement System of Ohio now owns 69,338 shares of the oil and gas producer’s stock worth $1,012,000 after acquiring an additional 1,327 shares in the last quarter.
Several equities analysts have weighed in on LPI shares. Piper Jaffray Companies dropped their target price on Laredo Petroleum from $17.00 to $15.00 and set an “overweight” rating for the company in a research report on Monday, September 18th. Cowen and Company reiterated a “hold” rating and set a $12.00 price target on shares of Laredo Petroleum in a research note on Sunday, September 17th. KeyCorp reissued a “hold” rating on shares of Laredo Petroleum in a research report on Friday, September 1st. BMO Capital Markets set a $14.00 price target on shares of Laredo Petroleum and gave the stock a “hold” rating in a research report on Sunday, August 13th. Finally, Zacks Investment Research lowered shares of Laredo Petroleum from a “hold” rating to a “sell” rating in a research note on Thursday, August 10th. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating and eight have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $14.73.
Shares of Laredo Petroleum, Inc. (LPI) traded down 6.03% during mid-day trading on Monday, reaching $12.15. The company’s stock had a trading volume of 3,624,960 shares. The firm has a market capitalization of $2.91 billion, a PE ratio of 24.55 and a beta of 1.44. Laredo Petroleum, Inc. has a 52 week low of $9.57 and a 52 week high of $16.47. The firm has a 50-day moving average of $12.14 and a 200-day moving average of $12.35.
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 firm had revenue of $187.00 million for the quarter, compared to analysts’ expectations of $173.32 million. During the same period last year, the firm earned $0.13 EPS. The business’s quarterly revenue was up 27.5% on a year-over-year basis. Equities research analysts forecast that Laredo Petroleum, Inc. will post $0.51 earnings per share for the current fiscal year.
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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.
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