Laredo Petroleum Inc (LPI) Stake Lessened by Cubist Systematic Strategies LLC

Cubist Systematic Strategies LLC lowered its stake in shares of Laredo Petroleum Inc (NYSE:LPI) by 57.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 27,849 shares of the oil and gas producer’s stock after selling 38,019 shares during the period. Cubist Systematic Strategies LLC’s holdings in Laredo Petroleum were worth $360,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently added to or reduced their stakes in LPI. Vanguard Group Inc. increased its position in Laredo Petroleum by 7.9% in the second quarter. Vanguard Group Inc. now owns 16,083,332 shares of the oil and gas producer’s stock worth $169,197,000 after purchasing an additional 1,176,608 shares during the last quarter. WS Management Lllp increased its position in Laredo Petroleum by 50.8% in the third quarter. WS Management Lllp now owns 5,934,700 shares of the oil and gas producer’s stock worth $76,736,000 after purchasing an additional 2,000,000 shares during the last quarter. State Street Corp increased its position in Laredo Petroleum by 15.9% in the second quarter. State Street Corp now owns 5,810,244 shares of the oil and gas producer’s stock worth $61,121,000 after purchasing an additional 799,073 shares during the last quarter. Van ECK Associates Corp increased its position in Laredo Petroleum by 1.8% in the third quarter. Van ECK Associates Corp now owns 4,045,680 shares of the oil and gas producer’s stock worth $52,311,000 after purchasing an additional 71,104 shares during the last quarter. Finally, Vaughan Nelson Investment Management L.P. increased its position in Laredo Petroleum by 36.8% in the third quarter. Vaughan Nelson Investment Management L.P. now owns 3,886,100 shares of the oil and gas producer’s stock worth $50,247,000 after purchasing an additional 1,044,525 shares during the last quarter.

Laredo Petroleum Inc (NYSE LPI) opened at $11.08 on Wednesday. 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 company has a market cap of $2,690.00, a price-to-earnings ratio of 22.16, a price-to-earnings-growth ratio of 4.10 and a beta of 1.32. Laredo Petroleum Inc has a one year low of $9.46 and a one year high of $15.55.

Laredo Petroleum (NYSE:LPI) last posted its quarterly earnings data on Wednesday, November 1st. The oil and gas producer reported $0.13 EPS for the quarter, missing the consensus estimate of $0.14 by ($0.01). The firm had revenue of $205.82 million for the quarter, compared to analysts’ expectations of $178.48 million. Laredo Petroleum had a return on equity of 43.77% and a net margin of 15.92%. The firm’s quarterly revenue was up 28.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.12 earnings per share. equities analysts anticipate that Laredo Petroleum Inc will post 0.52 EPS for the current fiscal year.

Several brokerages recently weighed in on LPI. Stifel Nicolaus restated a “buy” rating and issued a $17.00 price target on shares of Laredo Petroleum in a research report on Wednesday, October 4th. Cowen restated a “hold” rating and issued a $12.00 price target on shares of Laredo Petroleum in a research report on Sunday, September 17th. Robert W. Baird reduced their price target on shares of Laredo Petroleum from $17.00 to $14.00 and set an “outperform” rating on the stock in a research report on Monday, December 18th. Barclays reduced their price target on shares of Laredo Petroleum from $15.00 to $14.00 and set an “overweight” rating on the stock in a research report on Monday, November 20th. Finally, Zacks Investment Research cut shares of Laredo Petroleum from a “buy” rating to a “hold” rating in a research report on Tuesday, October 31st. Two 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’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $13.78.

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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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