Caxton Associates LP purchased a new position in Laredo Petroleum, Inc. (NYSE:LPI) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 648,183 shares of the oil and gas producer’s stock, valued at approximately $6,819,000. Caxton Associates LP owned about 0.27% of Laredo Petroleum at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in shares of 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 acquiring an additional 1,176,608 shares during the last quarter. BlackRock Inc. boosted its stake in shares of Laredo Petroleum by 2,500.3% in the first quarter. BlackRock Inc. now owns 7,598,973 shares of the oil and gas producer’s stock worth $110,946,000 after acquiring an additional 7,306,738 shares during the last quarter. State Street Corp boosted its stake in shares of 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 acquiring an additional 799,073 shares during the last quarter. Wellington Management Group LLP boosted its stake in shares of Laredo Petroleum by 25.2% in the first quarter. Wellington Management Group LLP now owns 4,311,310 shares of the oil and gas producer’s stock worth $62,944,000 after acquiring an additional 869,100 shares during the last quarter. Finally, Point72 Asset Management L.P. boosted its stake in shares of Laredo Petroleum by 150.2% in the first quarter. Point72 Asset Management L.P. now owns 3,748,400 shares of the oil and gas producer’s stock worth $54,727,000 after acquiring an additional 2,250,300 shares during the last quarter.

LPI has been the topic of a number of research analyst reports. Stifel Nicolaus reaffirmed a “buy” rating and issued a $17.00 price target on shares of Laredo Petroleum in a research note on Friday, July 14th. Williams Capital set a $14.00 price target on Laredo Petroleum and gave the stock a “hold” rating in a research note on Tuesday, August 8th. Zacks Investment Research raised Laredo Petroleum from a “sell” rating to a “hold” rating in a research note on Tuesday, August 1st. Cowen and Company set a $12.00 price target on Laredo Petroleum and gave the stock a “hold” rating in a research note on Tuesday, July 18th. Finally, Scotiabank set a $13.00 price target on Laredo Petroleum and gave the stock a “hold” rating in a research note on Saturday, July 1st. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating and eight have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $14.65.

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Laredo Petroleum, Inc. (LPI) traded down 2.50% during midday trading on Friday, reaching $12.47. The company’s stock had a trading volume of 2,770,265 shares. The company has a 50 day moving average price of $12.40 and a 200 day moving average price of $12.31. Laredo Petroleum, Inc. has a 1-year low of $9.57 and a 1-year high of $16.47. The firm has a market cap of $2.98 billion, a price-to-earnings ratio of 25.19 and a beta of 1.45.

Laredo Petroleum (NYSE:LPI) last issued its quarterly earnings results on Monday, August 7th. The oil and gas producer reported $0.10 earnings per share for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.01). Laredo Petroleum had a return on equity of 49.15% and a net margin of 16.73%. The business had revenue of $187.00 million for the quarter, compared to analysts’ expectations of $173.32 million. During the same period in the prior year, the company earned $0.13 EPS. The company’s revenue for the quarter was up 27.5% compared to the same quarter last year. On average, equities research analysts expect that Laredo Petroleum, Inc. will post $0.62 EPS for the current year.

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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