Raymond James Financial Services Advisors Inc. reduced its position in shares of Laredo Petroleum, Inc. (NYSE:LPI) by 8.8% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 33,534 shares of the oil and gas producer’s stock after selling 3,253 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in Laredo Petroleum were worth $353,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in LPI. BlackRock Inc. grew its position in shares of Laredo Petroleum by 2,500.3% during the 1st quarter. BlackRock Inc. now owns 7,598,973 shares of the oil and gas producer’s stock worth $110,946,000 after buying an additional 7,306,738 shares during the period. Vanguard Group Inc. grew its position in shares of Laredo Petroleum by 20.9% during the 1st quarter. Vanguard Group Inc. now owns 14,906,724 shares of the oil and gas producer’s stock worth $217,638,000 after buying an additional 2,578,127 shares during the period. Dimensional Fund Advisors LP grew its position in shares of Laredo Petroleum by 153.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,368,993 shares of the oil and gas producer’s stock worth $34,586,000 after buying an additional 1,434,079 shares during the period. Goldman Sachs Group Inc. grew its position in shares of Laredo Petroleum by 69.4% during the 2nd quarter. Goldman Sachs Group Inc. now owns 3,082,481 shares of the oil and gas producer’s stock worth $32,428,000 after buying an additional 1,263,202 shares during the period. Finally, Marshall Wace North America L.P. grew its position in shares of Laredo Petroleum by 228.3% during the 2nd quarter. Marshall Wace North America L.P. now owns 1,222,273 shares of the oil and gas producer’s stock worth $13,445,000 after buying an additional 849,924 shares during the period.

Several research firms have recently issued reports on LPI. Zacks Investment Research lowered Laredo Petroleum from a “hold” rating to a “sell” rating in a research report on Tuesday, July 18th. BMO Capital Markets set a $14.00 target price on Laredo Petroleum and gave the stock a “hold” rating in a research report on Sunday, August 13th. Cowen and Company restated a “hold” rating and set a $12.00 target price on shares of Laredo Petroleum in a research report on Sunday, September 17th. KeyCorp restated a “hold” rating on shares of Laredo Petroleum in a research report on Friday, September 1st. Finally, Bank of America Corporation began coverage on Laredo Petroleum in a research report on Wednesday, July 19th. They set an “underperform” rating and a $11.00 target price for the company. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and eight have assigned a buy rating to the company. The company has an average rating of “Hold” and an average price target of $14.45.

Laredo Petroleum, Inc. (LPI) opened at $10.94 on Wednesday. Laredo Petroleum, Inc. has a 12-month low of $9.57 and a 12-month high of $16.47. The company has a debt-to-equity ratio of 4.16, a quick ratio of 0.64 and a current ratio of 0.64. The firm has a market capitalization of $2,667.64, a P/E ratio of 22.45, a price-to-earnings-growth ratio of 4.43 and a beta of 1.39.

Laredo Petroleum (NYSE:LPI) last released its quarterly earnings results on Wednesday, November 1st. The oil and gas producer reported $0.13 earnings per share for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.01). Laredo Petroleum had a return on equity of 43.77% and a net margin of 15.92%. The firm had revenue of $205.82 million for the quarter, compared to analyst estimates of $178.48 million. During the same period last year, the company earned $0.12 EPS. The company’s revenue was up 28.9% compared to the same quarter last year. sell-side analysts expect that Laredo Petroleum, Inc. will post 0.5 earnings per share for the current year.

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Laredo Petroleum 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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