Strs Ohio Has $1,869,000 Position in Laredo Petroleum, Inc. (LPI)
Strs Ohio maintained its stake in shares of Laredo Petroleum, Inc. (NYSE:LPI) during the second quarter, Holdings Channel reports. The firm owned 177,750 shares of the oil and gas producer’s stock at the end of the second quarter. Strs Ohio’s holdings in Laredo Petroleum were worth $1,869,000 at the end of the most recent reporting period.
Several other large investors also recently made changes to their positions in LPI. Quantbot Technologies LP bought a new stake in shares of Laredo Petroleum during the first quarter valued at approximately $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 in the last quarter. Glen Harbor Capital Management LLC bought a new stake in shares of Laredo Petroleum during the first quarter valued at approximately $122,000. James Investment Research Inc. bought a new stake in shares of Laredo Petroleum during the first quarter valued at approximately $149,000. Finally, Tiedemann Wealth Management LLC bought a new stake in shares of Laredo Petroleum during the first quarter valued at approximately $150,000.
Laredo Petroleum, Inc. (NYSE LPI) opened at 12.09 on Friday. The firm has a 50-day moving average price of $11.49 and a 200 day moving average price of $12.74. The firm has a market capitalization of $2.89 billion, a price-to-earnings ratio of 24.42 and a beta of 1.41. Laredo Petroleum, Inc. has a 12 month low of $9.57 and a 12 month high of $16.47.
Laredo Petroleum (NYSE:LPI) last issued 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 million during the quarter, compared to the consensus estimate of $173.32 million. Laredo Petroleum had a net margin of 16.73% and a return on equity of 56.13%. The business’s revenue for the quarter was up 27.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.13 earnings per share. On average, equities analysts forecast that Laredo Petroleum, Inc. will post $0.49 EPS for the current year.
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Several equities research analysts have recently commented on the company. Williams Capital set a $14.00 target price on Laredo Petroleum and gave the company a “hold” rating in a report on Tuesday. Zacks Investment Research raised Laredo Petroleum from a “sell” rating to a “hold” rating in a report on Tuesday, August 1st. Scotiabank set a $13.00 target price on Laredo Petroleum and gave the company a “hold” rating in a report on Saturday, July 1st. Stephens raised Laredo Petroleum from an “underweight” rating to a “hold” rating in a report on Monday, May 15th. Finally, Bank of America Corporation upped their target price on Laredo Petroleum from $11.00 to $13.00 and gave the company an “underperform” rating in a report on Tuesday. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and ten have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target 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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