Castleton Investment Management LLC Invests $315,000 in Laredo Petroleum, Inc. (LPI)
Castleton Investment Management LLC purchased a new stake in shares of Laredo Petroleum, Inc. (NYSE:LPI) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 30,000 shares of the oil and gas producer’s stock, valued at approximately $315,000.
Other institutional investors have also added to or reduced their stakes in the company. Two Sigma Securities LLC bought a new position in shares of Laredo Petroleum during the 1st quarter valued at $514,000. Credit Suisse AG raised its holdings in shares of Laredo Petroleum by 189.6% during the 1st quarter. Credit Suisse AG now owns 349,708 shares of the oil and gas producer’s stock valued at $5,105,000 after purchasing an additional 228,946 shares in the last quarter. Prudential Financial Inc. raised its holdings in shares of Laredo Petroleum by 108.5% during the 2nd quarter. Prudential Financial Inc. now owns 1,354,512 shares of the oil and gas producer’s stock valued at $14,249,000 after purchasing an additional 704,874 shares in the last quarter. Bank of Montreal Can raised its holdings in shares of Laredo Petroleum by 18.4% during the 2nd quarter. Bank of Montreal Can now owns 1,027,804 shares of the oil and gas producer’s stock valued at $10,813,000 after purchasing an additional 159,472 shares in the last quarter. Finally, Sei Investments Co. raised its holdings in shares of Laredo Petroleum by 21.7% during the 2nd quarter. Sei Investments Co. now owns 382,825 shares of the oil and gas producer’s stock valued at $4,027,000 after purchasing an additional 68,320 shares in the last quarter.
Laredo Petroleum, Inc. (NYSE LPI) traded up 1.18% on Thursday, hitting $12.81. 921,123 shares of the stock traded hands. Laredo Petroleum, Inc. has a 52 week low of $9.57 and a 52 week high of $16.47. The stock has a market cap of $3.07 billion, a price-to-earnings ratio of 25.88 and a beta of 1.45. The firm’s 50 day moving average is $12.36 and its 200 day moving average is $12.32.
Laredo Petroleum (NYSE:LPI) last announced its quarterly earnings results on Monday, August 7th. The oil and gas producer reported $0.10 EPS for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.01). The firm had revenue of $187.00 million during the quarter, compared to analyst estimates of $173.32 million. Laredo Petroleum had a net margin of 16.73% and a return on equity of 49.15%. The business’s revenue was up 27.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.13 EPS. Equities analysts anticipate that Laredo Petroleum, Inc. will post $0.51 earnings per share for the current year.
LPI has been the topic of a number of recent research reports. Bank of America Corporation initiated coverage on shares of Laredo Petroleum in a report on Wednesday, July 19th. They set an “underperform” rating and a $11.00 price target on the stock. Seaport Global Securities downgraded shares of Laredo Petroleum from a “buy” rating to a “neutral” rating and cut their price target for the company from $19.00 to $9.00 in a report on Wednesday, June 21st. Cowen and Company set a $12.00 price target on shares of Laredo Petroleum and gave the company a “hold” rating in a report on Tuesday, July 18th. BidaskClub upgraded shares of Laredo Petroleum from a “strong sell” rating to a “sell” rating in a report on Wednesday, July 5th. Finally, KeyCorp restated a “hold” rating on shares of Laredo Petroleum in a report on Friday, September 1st. Three analysts have rated the stock with a sell rating, ten have given a hold rating and eight have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $14.65.
About Laredo Petroleum
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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