Legal & General Group Plc Purchases 9,754 Shares of Laredo Petroleum Inc (LPI)

Legal & General Group Plc lifted its position in Laredo Petroleum Inc (NYSE:LPI) by 18.4% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 62,768 shares of the oil and gas producer’s stock after purchasing an additional 9,754 shares during the quarter. Legal & General Group Plc’s holdings in Laredo Petroleum were worth $812,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Wells Fargo & Company MN raised its stake in Laredo Petroleum by 24.4% during the second quarter. Wells Fargo & Company MN now owns 218,884 shares of the oil and gas producer’s stock worth $2,304,000 after acquiring an additional 42,994 shares in the last quarter. Caxton Associates LP acquired a new position in Laredo Petroleum during the second quarter worth $6,819,000. Chicago Equity Partners LLC acquired a new position in Laredo Petroleum during the third quarter worth $1,177,000. Prudential Financial Inc. raised its stake in Laredo Petroleum by 108.5% during the second quarter. Prudential Financial Inc. now owns 1,354,512 shares of the oil and gas producer’s stock worth $14,249,000 after acquiring an additional 704,874 shares in the last quarter. Finally, Castleton Investment Management LLC acquired a new position in Laredo Petroleum during the second quarter worth $315,000.

Several research firms have issued reports on LPI. Zacks Investment Research lowered Laredo Petroleum from a “buy” rating to a “hold” rating in a research note on Friday, October 20th. Cowen reiterated a “hold” rating and set a $12.00 price objective on shares of Laredo Petroleum in a research note on Sunday, September 17th. Seaport Global Securities reiterated a “neutral” rating and set a $9.50 price objective (down from $10.00) on shares of Laredo Petroleum in a research note on Monday, October 9th. Scotiabank set a $14.00 price objective on Laredo Petroleum and gave the stock a “hold” rating in a research note on Wednesday, November 22nd. Finally, Barclays reiterated a “buy” rating on shares of Laredo Petroleum in a research note on Thursday, November 23rd. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and eight have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $13.78.

Shares of Laredo Petroleum Inc (LPI) opened at $11.13 on Thursday. Laredo Petroleum Inc has a 12 month low of $9.46 and a 12 month high of $15.55. The firm has a market capitalization of $2,700.00, a price-to-earnings ratio of 22.26, a PEG ratio of 2.41 and a beta of 1.32. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 4.16.

Laredo Petroleum (NYSE:LPI) last announced its earnings results on Wednesday, November 1st. The oil and gas producer reported $0.13 earnings per share for the quarter, missing the Zacks’ 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 analyst estimates of $178.48 million. During the same quarter last year, the business posted $0.12 earnings per share. The business’s quarterly revenue was up 28.9% compared to the same quarter last year. sell-side analysts predict that Laredo Petroleum Inc will post 0.52 EPS 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.

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

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