Vaughan Nelson Investment Management L.P. lowered its stake in Laredo Petroleum, Inc. (NYSE:LPI) by 40.9% during the second quarter, Holdings Channel reports. The firm owned 2,841,575 shares of the oil and gas producer’s stock after selling 1,965,675 shares during the period. Vaughan Nelson Investment Management L.P.’s holdings in Laredo Petroleum were worth $29,894,000 at the end of the most recent reporting period.
Other large investors also recently modified their holdings of the company. Evanson Asset Management LLC bought a new stake in shares of Laredo Petroleum during the second quarter valued at about $108,000. Quantbot Technologies LP bought a new stake in shares of Laredo Petroleum during the first quarter valued at about $114,000. Meeder Asset Management Inc. increased its stake in shares of 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 buying an additional 5,977 shares during the period. Glen Harbor Capital Management LLC bought a new stake in shares of Laredo Petroleum during the first quarter valued at about $122,000. Finally, James Investment Research Inc. bought a new stake in shares of Laredo Petroleum during the first quarter valued at about $149,000.
Shares of Laredo Petroleum, Inc. (NYSE LPI) opened at 12.36 on Thursday. Laredo Petroleum, Inc. has a 1-year low of $9.20 and a 1-year high of $16.47. The company’s market cap is $2.96 billion. The firm’s 50 day moving average is $10.96 and its 200-day moving average is $12.91.
Laredo Petroleum (NYSE:LPI) last posted its earnings results on Wednesday, May 3rd. The oil and gas producer reported $0.10 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.11 by $0.01. Laredo Petroleum had a positive return on equity of 75.64% and a negative net margin of 1.78%. The firm had revenue of $189 million during the quarter, compared to analysts’ expectations of $164.39 million. During the same quarter in the prior year, the company earned $0.08 earnings per share. The business’s revenue for the quarter was up 77.3% compared to the same quarter last year. Equities analysts expect that Laredo Petroleum, Inc. will post $0.54 earnings per share for the current year.
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Several equities research analysts have issued reports on LPI shares. Barclays PLC restated a “buy” rating and set a $18.00 price objective (down from $19.00) on shares of Laredo Petroleum in a research report on Thursday, April 20th. Stifel Nicolaus assumed coverage on shares of Laredo Petroleum in a report on Wednesday, April 12th. They set a “buy” rating and a $18.00 target price on the stock. Seaport Global Securities raised shares of Laredo Petroleum from a “neutral” rating to a “buy” rating in a report on Friday, March 31st. FBR & Co reaffirmed a “buy” rating and set a $16.00 target price on shares of Laredo Petroleum in a report on Friday, May 12th. Finally, TheStreet raised shares of Laredo Petroleum from a “d-” rating to a “c-” rating in a report on Wednesday, May 3rd. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and ten have issued a buy rating to the company. Laredo Petroleum has an average rating of “Hold” and a consensus target price of $14.63.
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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