Bank of New York Mellon Corp lifted its position in shares of Laredo Petroleum Inc (NYSE:LPI) by 23.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,278,477 shares of the oil and gas producer’s stock after buying an additional 243,977 shares during the quarter. Bank of New York Mellon Corp owned about 0.54% of Laredo Petroleum worth $12,300,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of LPI. BlackRock Inc. increased its position in shares of Laredo Petroleum by 60.3% during the second quarter. BlackRock Inc. now owns 10,509,841 shares of the oil and gas producer’s stock worth $101,104,000 after buying an additional 3,954,104 shares during the period. LSV Asset Management grew its holdings in Laredo Petroleum by 267.0% in the second quarter. LSV Asset Management now owns 3,452,709 shares of the oil and gas producer’s stock worth $33,215,000 after purchasing an additional 2,512,009 shares during the period. Dimensional Fund Advisors LP grew its holdings in Laredo Petroleum by 52.4% in the second quarter. Dimensional Fund Advisors LP now owns 7,234,971 shares of the oil and gas producer’s stock worth $69,599,000 after purchasing an additional 2,487,113 shares during the period. Thompson Siegel & Walmsley LLC acquired a new stake in Laredo Petroleum in the second quarter worth $17,730,000. Finally, Schroder Investment Management Group grew its holdings in Laredo Petroleum by 222.0% in the second quarter. Schroder Investment Management Group now owns 2,060,930 shares of the oil and gas producer’s stock worth $19,352,000 after purchasing an additional 1,420,930 shares during the period.

A number of equities research analysts have commented on LPI shares. MKM Partners started coverage on shares of Laredo Petroleum in a report on Wednesday. They issued a “buy” rating and a $9.00 price target for the company. Williams Capital restated a “hold” rating and issued a $8.00 price target on shares of Laredo Petroleum in a report on Tuesday, November 6th. Finally, Zacks Investment Research upgraded shares of Laredo Petroleum from a “hold” rating to a “buy” rating and set a $6.00 price target for the company in a report on Friday, October 26th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $11.23.

In other news, Director Peter Kagan sold 12,300,000 shares of Laredo Petroleum stock in a transaction dated Thursday, September 27th. The shares were sold at an average price of $8.08, for a total transaction of $99,384,000.00. Following the completion of the transaction, the director now directly owns 115,107 shares in the company, valued at $930,064.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Pincus Private Equity Warburg sold 14,200,000 shares of Laredo Petroleum stock in a transaction dated Tuesday, September 11th. The shares were sold at an average price of $7.42, for a total transaction of $105,364,000.00. The disclosure for this sale can be found here. 2.20% of the stock is owned by company insiders.

NYSE:LPI opened at $4.56 on Friday. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.95. The firm has a market capitalization of $1.11 billion, a price-to-earnings ratio of 7.60, a P/E/G ratio of 0.93 and a beta of 1.62. Laredo Petroleum Inc has a 12 month low of $4.24 and a 12 month high of $11.68.

Laredo Petroleum (NYSE:LPI) last issued its quarterly earnings data on Monday, November 5th. The oil and gas producer reported $0.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.03). The business had revenue of $279.70 million for the quarter, compared to analyst estimates of $276.95 million. Laredo Petroleum had a net margin of 51.61% and a return on equity of 24.30%. The firm’s quarterly revenue was up 35.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.13 earnings per share. As a group, research analysts anticipate that Laredo Petroleum Inc will post 1.02 EPS for the current year.

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Laredo Petroleum Company Profile

Laredo Petroleum, Inc operates as an independent energy company in the United States. It operates through two segments, Exploration and Production; and Midstream and Marketing. The company engages in the acquisition, exploration, and development of oil and natural gas properties; and the transportation of oil and natural gas primarily in the Permian Basin in West Texas, as well as rig fuel, natural gas lift, and water delivery and takeaway services.

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

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