UBS Asset Management Americas Inc. trimmed its stake in Laredo Petroleum, Inc. (NYSE:LPI) by 81.0% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 284,961 shares of the oil and gas producer’s stock after selling 1,217,549 shares during the quarter. UBS Asset Management Americas Inc. owned about 0.12% of Laredo Petroleum worth $2,998,000 as of its most recent filing with the SEC.

Other institutional investors also recently added to or reduced their stakes in the company. Evanson Asset Management LLC purchased a new stake in Laredo Petroleum in the second quarter valued at approximately $108,000. Meeder Asset Management Inc. grew its holdings in Laredo Petroleum by 282.5% in the first quarter. Meeder Asset Management Inc. now owns 8,093 shares of the oil and gas producer’s stock valued at $118,000 after purchasing an additional 5,977 shares during the period. Teacher Retirement System of Texas grew its holdings in Laredo Petroleum by 3.8% in the second quarter. Teacher Retirement System of Texas now owns 12,884 shares of the oil and gas producer’s stock valued at $136,000 after purchasing an additional 468 shares during the period. BNP Paribas Arbitrage SA grew its holdings in Laredo Petroleum by 4.8% in the second quarter. BNP Paribas Arbitrage SA now owns 16,735 shares of the oil and gas producer’s stock valued at $176,000 after purchasing an additional 766 shares during the period. Finally, Pacer Advisors Inc. grew its holdings in Laredo Petroleum by 12.0% in the second quarter. Pacer Advisors Inc. now owns 17,163 shares of the oil and gas producer’s stock valued at $181,000 after purchasing an additional 1,838 shares during the period.

Laredo Petroleum (NYSE:LPI) last posted its quarterly earnings results on Monday, August 7th. The oil and gas producer reported $0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.01). The company had revenue of $187.00 million during the quarter, compared to analysts’ expectations of $173.32 million. Laredo Petroleum had a return on equity of 49.15% and a net margin of 16.73%. Laredo Petroleum’s revenue for the quarter was up 27.5% compared to the same quarter last year. During the same period last year, the company earned $0.13 earnings per share.

A number of research firms recently issued reports 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 report on Tuesday. Seaport Global Securities restated a “neutral” rating and issued a $9.50 target price (down from $10.00) on shares of Laredo Petroleum in a report on Monday. Stifel Nicolaus restated a “buy” rating and issued a $17.00 target price on shares of Laredo Petroleum in a report on Wednesday, October 4th. Piper Jaffray Companies lowered their target price on shares of Laredo Petroleum from $17.00 to $15.00 and set an “overweight” rating for the company in a report on Monday, September 18th. Finally, Cowen and Company restated a “hold” rating and issued a $12.00 target price on shares of Laredo Petroleum in a report on Sunday, September 17th. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating and eight have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $14.68.

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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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Institutional Ownership by Quarter for Laredo Petroleum (NYSE:LPI)

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