King Luther Capital Management Corp acquired a new stake in Laredo Petroleum Inc (NYSE:LPI) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 10,000 shares of the oil and gas producer’s stock, valued at approximately $29,000.

Several other institutional investors have also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP lifted its holdings in Laredo Petroleum by 15.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 10,125,338 shares of the oil and gas producer’s stock valued at $36,654,000 after purchasing an additional 1,330,494 shares during the last quarter. LSV Asset Management boosted its holdings in shares of Laredo Petroleum by 1.7% during the 2nd quarter. LSV Asset Management now owns 3,504,809 shares of the oil and gas producer’s stock worth $10,163,000 after buying an additional 59,700 shares during the period. Caymus Capital Partners L.P. bought a new stake in shares of Laredo Petroleum during the 2nd quarter worth about $6,072,000. Connor Clark & Lunn Investment Management Ltd. grew its stake in Laredo Petroleum by 49.3% in the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,145,600 shares of the oil and gas producer’s stock valued at $3,322,000 after buying an additional 378,300 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in Laredo Petroleum by 6.9% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 941,664 shares of the oil and gas producer’s stock valued at $2,731,000 after buying an additional 60,634 shares during the last quarter. Institutional investors own 94.61% of the company’s stock.

NYSE:LPI traded down $0.15 during mid-day trading on Wednesday, reaching $2.63. 171,802 shares of the company’s stock were exchanged, compared to its average volume of 4,779,542. Laredo Petroleum Inc has a one year low of $2.26 and a one year high of $9.03. The firm has a market capitalization of $660.17 million, a PE ratio of 2.83 and a beta of 1.59. The business’s fifty day simple moving average is $2.71 and its two-hundred day simple moving average is $2.97. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.13 and a current ratio of 1.13.

Laredo Petroleum (NYSE:LPI) last posted its quarterly earnings data on Wednesday, July 31st. The oil and gas producer reported $0.24 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.19 by $0.05. Laredo Petroleum had a net margin of 40.05% and a return on equity of 15.59%. The firm had revenue of $216.60 million during the quarter, compared to the consensus estimate of $213.24 million. During the same quarter in the previous year, the firm posted $0.25 EPS. The business’s revenue for the quarter was down 38.3% compared to the same quarter last year. As a group, equities research analysts forecast that Laredo Petroleum Inc will post 0.75 EPS for the current year.

Several research firms have weighed in on LPI. Williams Capital raised shares of Laredo Petroleum from a “hold” rating to a “buy” rating and increased their price target for the company from $4.00 to $5.50 in a report on Thursday, May 16th. Credit Suisse Group raised Laredo Petroleum from an “underperform” rating to a “neutral” rating and set a $2.83 target price on the stock in a research report on Tuesday, July 9th. They noted that the move was a valuation call. JPMorgan Chase & Co. upgraded Laredo Petroleum from an “underweight” rating to a “neutral” rating in a research note on Wednesday, July 31st. Capital One Financial upgraded Laredo Petroleum from an “underweight” rating to an “equal weight” rating and set a $7.00 target price on the stock in a research note on Thursday, May 23rd. Finally, Zacks Investment Research cut Laredo Petroleum from a “buy” rating to a “hold” rating in a report on Wednesday, July 24th. Seven analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $4.80.

In other news, major shareholder Warburg Pincus Llc sold 69,874 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $2.76, for a total transaction of $192,852.24. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 3.00% of the stock is currently owned by company insiders.

About Laredo Petroleum

Laredo Petroleum, Inc, an independent energy company, engages in the acquisition, exploration, and development of oil and natural gas properties in the Permian Basin of West Texas, the United States. The company also provides midstream and marketing services comprising transportation and marketing of oil and natural gas; and natural gas lift systems, crude oil and natural gas gathering, and water delivery and takeaway services.

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

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