Laredo Petroleum Inc (LPI) : Columbia Pacific Advisors reduced its stake in Laredo Petroleum Inc by 11.65% during the most recent quarter end. The investment management company now holds a total of 295,937 shares of Laredo Petroleum Inc which is valued at $3,924,125 after selling 39,023 shares in Laredo Petroleum Inc , the firm said in a disclosure report filed with the SEC on Nov 14, 2016.Laredo Petroleum Inc makes up approximately 3.22% of Columbia Pacific Advisors’s portfolio.
Other Hedge Funds, Including , Pinebridge Investments boosted its stake in LPI in the latest quarter, The investment management firm added 450,935 additional shares and now holds a total of 553,682 shares of Laredo Petroleum Inc which is valued at $7,341,823. Laredo Petroleum Inc makes up approx 0.33% of Pinebridge Investments’s portfolio. Trexquant Investment Lp added LPI to its portfolio by purchasing 44,900 company shares during the most recent quarter which is valued at $590,884. Laredo Petroleum Inc makes up approx 0.13% of Trexquant Investment Lp’s portfolio. Acrospire Investment Management added LPI to its portfolio by purchasing 200 company shares during the most recent quarter which is valued at $5,264.Advisor Group reduced its stake in LPI by selling 66 shares or 55.46% in the most recent quarter. The Hedge Fund company now holds 53 shares of LPI which is valued at $713.Utah Retirement Systems boosted its stake in LPI in the latest quarter, The investment management firm added 1,800 additional shares and now holds a total of 26,166 shares of Laredo Petroleum Inc which is valued at $339,635. Laredo Petroleum Inc makes up approx 0.01% of Utah Retirement Systems’s portfolio.
Laredo Petroleum Inc opened for trading at $14.15 and hit $14.615 on the upside on Monday, eventually ending the session at $14.42, with a gain of 2.78% or 0.39 points. The heightened volatility saw the trading volume jump to 23,82,149 shares. Company has a market cap of $3,489 M.
On the company’s financial health, Laredo Petroleum Inc reported $0.12 EPS for the quarter, based on the information available during the earnings call on Nov 2, 2016. Analyst had a consensus estimate of $0.12. The company had revenue of $159.70 million for the quarter, compared to analysts expectations of $133.91 million. The company’s revenue was up 6.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.07 EPS.
Many Wall Street Analysts have commented on Laredo Petroleum Inc. Laredo Petroleum Inc was Downgraded by Credit Suisse to ” Underperform” on Oct 13, 2016. FBR & Co. Initiated Laredo Petroleum Inc on Sep 13, 2016 to “Outperform”, Price Target of the shares are set at $14.FBR Capital Initiated Laredo Petroleum Inc on Sep 13, 2016 to “Outperform”, Price Target of the shares are set at $14.
Laredo Petroleum Inc. (Laredo) is an independent energy company focused on the acquisition exploration and development of oil and natural gas properties primarily in the Permian Basin in West Texas. The Company’s Permian Basin is comprised of several distinct geological provinces including the Midland Basin to the east the Delaware Basin to the west and the Central Platform in the middle. The Permian Basin is located in West Texas and Southeastern New Mexico where the Company has assembled approximately 196683 net acres. Its primary production and exploitation fairway (Permian-Garden City area) is located on the eastern side of the basin 35 miles east of Midland Texas and extends 20 miles wide (east/west) and 85 miles long (north/south) in Howard Glasscock Reagan Sterling Irion and Tom Green counties. It holds approximately 155405 net acres in 360 sections in the Permian-Garden City area.