Laredo Petroleum Inc (LPI) Stake Lowered by Millennium Management LLC

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Millennium Management LLC lessened its position in Laredo Petroleum Inc (NYSE:LPI) by 9.3% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 7,826,297 shares of the oil and gas producer’s stock after selling 802,715 shares during the period. Millennium Management LLC owned about 3.33% of Laredo Petroleum worth $68,167,000 as of its most recent filing with the SEC.

Other large investors have also recently modified their holdings of the company. HRT Financial LLC acquired a new stake in shares of Laredo Petroleum in the 4th quarter valued at $117,000. Elkfork Partners LLC acquired a new stake in shares of Laredo Petroleum in the 4th quarter valued at $131,000. Virtu Financial LLC acquired a new stake in shares of Laredo Petroleum in the 4th quarter valued at $154,000. Sciencast Management LP acquired a new stake in shares of Laredo Petroleum in the 4th quarter valued at $165,000. Finally, Victory Capital Management Inc. acquired a new stake in shares of Laredo Petroleum in the 1st quarter valued at $168,000.

Several brokerages have recently commented on LPI. Tudor Pickering downgraded shares of Laredo Petroleum from a “buy” rating to a “hold” rating in a research note on Thursday, May 10th. Williams Capital set a $11.00 target price on shares of Laredo Petroleum and gave the company a “hold” rating in a research note on Thursday, May 3rd. Robert W. Baird downgraded shares of Laredo Petroleum from an “outperform” rating to a “neutral” rating in a research note on Thursday, May 3rd. ValuEngine downgraded shares of Laredo Petroleum from a “sell” rating to a “strong sell” rating in a research note on Wednesday, May 2nd. Finally, Stephens restated a “hold” rating and issued a $10.00 target price on shares of Laredo Petroleum in a research note on Thursday, March 15th. Three analysts have rated the stock with a sell rating, thirteen have given a hold rating and four have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $12.34.

Shares of NYSE LPI opened at $8.74 on Wednesday. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.77 and a current ratio of 0.77. The stock has a market cap of $2.03 billion, a P/E ratio of 14.57, a P/E/G ratio of 1.63 and a beta of 1.12. Laredo Petroleum Inc has a 12-month low of $7.41 and a 12-month high of $13.46.

Laredo Petroleum (NYSE:LPI) last posted its quarterly earnings data on Wednesday, May 2nd. The oil and gas producer reported $0.24 EPS for the quarter, missing the Zacks’ consensus estimate of $0.26 by ($0.02). The company had revenue of $259.70 million during the quarter, compared to analyst estimates of $211.73 million. Laredo Petroleum had a return on equity of 27.02% and a net margin of 63.53%. Laredo Petroleum’s revenue was up 37.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.10 earnings per share. sell-side analysts forecast that Laredo Petroleum Inc will post 1.06 earnings per share for the current fiscal year.

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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