Laredo Petroleum Inc (LPI) : Mizuho Securities Usa has sold out all of its stake in Laredo Petroleum Inc during the most recent quarter, according to the disclosure filed by the company on Apr 21, 2016 with the SEC. The investment management company has sold out 26,500 shares of Laredo Petroleum Inc which is valued at $298,920.
Laredo Petroleum Inc opened for trading at $12.13 and hit $12.8801 on the upside on Wednesday, eventually ending the session at $12.09, with a gain of 1.34% or 0.16 points. The heightened volatility saw the trading volume jump to 62,06,052 shares. Company has a market cap of $2,584 M.
Other Hedge Funds, Including , Strs Ohio sold out all of its stake in LPI during the most recent quarter. The investment firm sold 95,250 shares of LPI which is valued $1,074,420. Beacon Capital Management sold out all of its stake in LPI during the most recent quarter. The investment firm sold 60 shares of LPI which is valued $677. Simplex Trading sold out all of its stake in LPI during the most recent quarter. The investment firm sold 55 shares of LPI which is valued $551. Acadian Asset Management sold out all of its stake in LPI during the most recent quarter. The investment firm sold 504 shares of LPI which is valued $5,045.Creative Planning reduced its stake in LPI by selling 50 shares or 20.0% in the most recent quarter. The Hedge Fund company now holds 200 shares of LPI which is valued at $1,748.
On the company’s financial health, Laredo Petroleum Inc reported $0.07 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Nov 5, 2015. Analyst had a consensus of $0.06. The company had revenue of $150.34 million for the quarter, compared to analysts expectations of $154.64 million. The company’s revenue was down -24.9 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.19 EPS.
Many Wall Street Analysts have commented on Laredo Petroleum Inc. Laredo Petroleum Inc was Downgraded by KLR Group to ” Hold” on Mar 14, 2016. Laredo Petroleum Inc was Upgraded by KLR Group to ” Accumulate” on Feb 18, 2016. Shares were Reiterated by Topeka Capital Markets on Jan 26, 2016 to “Buy” and Lowered the Price Target to $ 11 from a previous price target of $15 .
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.