Laredo Petroleum Inc (LPI) : Spo Advisory Corp reduced its stake in Laredo Petroleum Inc by 1.52% during the most recent quarter end. The investment management company now holds a total of 16,870,205 shares of Laredo Petroleum Inc which is valued at $188,946,296 after selling 260,077 shares in Laredo Petroleum Inc , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.Laredo Petroleum Inc makes up approximately 3.03% of Spo Advisory Corp’s portfolio.
Other Hedge Funds, Including , Cubist Systematic Strategies sold out all of its stake in LPI during the most recent quarter. The investment firm sold 24,828 shares of LPI which is valued $278,074. Acrospire Investment Management added LPI to its portfolio by purchasing 200 company shares during the most recent quarter which is valued at $2,350.Royal London Asset Management Ltd boosted its stake in LPI in the latest quarter, The investment management firm added 31,531 additional shares and now holds a total of 167,836 shares of Laredo Petroleum Inc which is valued at $1,757,243. Laredo Petroleum Inc makes up approx 0.03% of Royal London Asset Management Ltd’s portfolio. Capital Fund Management S.a. added LPI to its portfolio by purchasing 165,920 company shares during the most recent quarter which is valued at $1,562,966. Laredo Petroleum Inc makes up approx 0.03% of Capital Fund Management S.a.’s portfolio.Lasalle Street Capital Management reduced its stake in LPI by selling 6,208 shares or 30.06% in the most recent quarter. The Hedge Fund company now holds 14,446 shares of LPI which is valued at $143,015. Laredo Petroleum Inc makes up approx 0.13% of Lasalle Street Capital Management’s portfolio.
Laredo Petroleum Inc closed down -0.15 points or -1.22% at $12.13 with 27,91,215 shares getting traded on Thursday. Post opening the session at $12.16, the shares hit an intraday low of $11.82 and an intraday high of $12.3321 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.
On the company’s financial health, Laredo Petroleum Inc reported $0.13 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on Aug 3, 2016. Analyst had a consensus of $0.10. The company had revenue of $146.77 million for the quarter, compared to analysts expectations of $123.51 million. The company’s revenue was down -19.5 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.05 EPS.
Many Wall Street Analysts have commented on Laredo Petroleum Inc. Laredo Petroleum Inc was Upgraded by Seaport Global Securities to ” Neutral” on Aug 30, 2016. Williams Capital Group Initiated Laredo Petroleum Inc on Aug 29, 2016 to “Hold”, Price Target of the shares are set at $14.Laredo Petroleum Inc was Upgraded by CapitalOne to ” Overweight” on Aug 24, 2016.
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.