Laredo Petroleum Inc (LPI) : Alta Advisers Ltd scooped up 223,746 additional shares in Laredo Petroleum Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 3, 2016. The investment management firm now holds a total of 571,708 shares of Laredo Petroleum Inc which is valued at $6,826,194.Laredo Petroleum Inc makes up approximately 5.21% of Alta Advisers Ltd’s portfolio.
Other Hedge Funds, Including , Jennison Associates reduced its stake in LPI by selling 497,128 shares or 10.83% in the most recent quarter. The Hedge Fund company now holds 4,094,947 shares of LPI which is valued at $48,893,667. Laredo Petroleum Inc makes up approx 0.05% of Jennison Associates’s portfolio. First Mercantile Trust Co sold out all of its stake in LPI during the most recent quarter. The investment firm sold 45,800 shares of LPI which is valued $557,844.Great West Life Assurance Co Can boosted its stake in LPI in the latest quarter, The investment management firm added 8,981 additional shares and now holds a total of 21,954 shares of Laredo Petroleum Inc which is valued at $267,400. Winfield Associates added LPI to its portfolio by purchasing 80 company shares during the most recent quarter which is valued at $974.Advisory Services Network reduced its stake in LPI by selling 70 shares or 18.92% in the most recent quarter. The Hedge Fund company now holds 300 shares of LPI which is valued at $3,384.
Laredo Petroleum Inc opened for trading at $11.49 and hit $11.79 on the upside on Tuesday, eventually ending the session at $11.63, with a gain of 2.20% or 0.25 points. The heightened volatility saw the trading volume jump to 60,62,460 shares. Company has a market cap of $2,482 M.
On the company’s financial health, Laredo Petroleum Inc reported $0.08 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on May 4, 2016. Analyst had a consensus of $0.05. The company had revenue of $106.60 million for the quarter, compared to analysts expectations of $90.36 million. The company’s revenue was down -29.3 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.03 EPS.
Many Wall Street Analysts have commented on Laredo Petroleum Inc. Company shares were Reiterated by Topeka Capital Markets on May 11, 2016 to “Buy”, Firm has raised the Price Target to $ 15 from a previous price target of $14 .Company shares were Upgraded by Alembic Global Advisors on May 9, 2016 to ” Overweight”, Firm has raised the Price Target to $ 16 from a previous price target of $7 .Company shares were Reiterated by Topeka Capital Markets on May 5, 2016 to “Buy”, Firm has raised the Price Target to $ 14 from a previous price target of $9 .
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.