Systematic Financial Management LP lowered its position in Laredo Petroleum, Inc. (NYSE:LPI) by 86.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 28,880 shares of the oil and gas producer’s stock after selling 177,955 shares during the quarter. Systematic Financial Management LP’s holdings in Laredo Petroleum were worth $373,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Koch Industries Inc. bought a new position in shares of Laredo Petroleum during the 2nd quarter worth approximately $129,000. QCM Cayman Ltd. bought a new position in shares of Laredo Petroleum during the 2nd quarter worth approximately $133,000. Teacher Retirement System of Texas lifted its position in shares of Laredo Petroleum by 3.8% during the 2nd quarter. Teacher Retirement System of Texas now owns 12,884 shares of the oil and gas producer’s stock worth $136,000 after buying an additional 468 shares during the period. Fox Run Management L.L.C. bought a new position in shares of Laredo Petroleum during the 3rd quarter worth approximately $167,000. Finally, BNP Paribas Arbitrage SA lifted its position in shares of 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 buying an additional 766 shares during the period.

Laredo Petroleum, Inc. (NYSE LPI) opened at $10.67 on Friday. The company has a debt-to-equity ratio of 4.16, a current ratio of 0.64 and a quick ratio of 0.64. Laredo Petroleum, Inc. has a 52-week low of $9.55 and a 52-week high of $15.55. The stock has a market capitalization of $2,587.60, a price-to-earnings ratio of 21.78, a price-to-earnings-growth ratio of 4.27 and a beta of 1.34.

Laredo Petroleum (NYSE:LPI) last issued its quarterly earnings data on Wednesday, November 1st. The oil and gas producer reported $0.13 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.14 by ($0.01). Laredo Petroleum had a net margin of 15.92% and a return on equity of 43.77%. The business had revenue of $205.82 million during the quarter, compared to the consensus estimate of $178.48 million. During the same quarter in the previous year, the firm posted $0.12 EPS. The company’s revenue for the quarter was up 28.9% compared to the same quarter last year. equities research analysts expect that Laredo Petroleum, Inc. will post 0.5 earnings per share for the current year.

LPI has been the subject of several analyst reports. Zacks Investment Research downgraded Laredo Petroleum from a “buy” rating to a “hold” rating in a research report on Friday, October 20th. BMO Capital Markets cut their target price on Laredo Petroleum from $14.00 to $11.00 and set a “market perform” rating for the company in a research report on Thursday, November 2nd. Williams Capital raised their target price on Laredo Petroleum from $13.00 to $14.00 and gave the stock a “hold” rating in a research report on Wednesday, October 18th. KeyCorp restated a “hold” rating on shares of Laredo Petroleum in a research report on Friday, September 1st. Finally, Piper Jaffray Companies cut 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. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and eight have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $14.27.

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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.

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

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