Royal Bank of Canada Sells 1,112 Shares of Laredo Petroleum, Inc. (LPI)

Royal Bank of Canada decreased its holdings in shares of Laredo Petroleum, Inc. (NYSE:LPI) by 0.1% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 933,553 shares of the oil and gas producer’s stock after selling 1,112 shares during the quarter. Royal Bank of Canada owned about 0.38% of Laredo Petroleum worth $9,821,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also bought and sold shares of the stock. Vanguard Group Inc. lifted its holdings in shares of Laredo Petroleum by 7.9% during the 2nd quarter. Vanguard Group Inc. now owns 16,083,332 shares of the oil and gas producer’s stock valued at $169,197,000 after acquiring an additional 1,176,608 shares in the last quarter. BlackRock Inc. lifted its holdings in Laredo Petroleum by 2,500.3% in the 1st quarter. BlackRock Inc. now owns 7,598,973 shares of the oil and gas producer’s stock worth $110,946,000 after buying an additional 7,306,738 shares in the last quarter. State Street Corp lifted its holdings in Laredo Petroleum by 0.4% in the 1st quarter. State Street Corp now owns 5,011,171 shares of the oil and gas producer’s stock worth $73,163,000 after buying an additional 18,750 shares in the last quarter. Point72 Asset Management L.P. lifted its holdings in Laredo Petroleum by 150.2% in the 1st quarter. Point72 Asset Management L.P. now owns 3,748,400 shares of the oil and gas producer’s stock worth $54,727,000 after buying an additional 2,250,300 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its holdings in Laredo Petroleum by 69.4% in the 2nd quarter. Goldman Sachs Group Inc. now owns 3,082,481 shares of the oil and gas producer’s stock worth $32,428,000 after buying an additional 1,263,202 shares in the last quarter.

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A number of equities analysts have commented on the stock. Zacks Investment Research upgraded shares of Laredo Petroleum from a “sell” rating to a “hold” rating in a report on Tuesday, August 1st. BMO Capital Markets set a $14.00 price objective on shares of Laredo Petroleum and gave the stock a “hold” rating in a report on Tuesday, October 10th. Stifel Nicolaus reiterated a “buy” rating and issued a $17.00 price objective on shares of Laredo Petroleum in a report on Wednesday, October 4th. Seaport Global Securities reiterated a “neutral” rating and issued a $9.50 price objective (down previously from $10.00) on shares of Laredo Petroleum in a report on Monday, October 9th. Finally, KeyCorp reiterated a “hold” rating on shares of Laredo Petroleum in a report on Friday, September 1st. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and nine have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $14.64.

Laredo Petroleum, Inc. (LPI) opened at 12.54 on Tuesday. Laredo Petroleum, Inc. has a 52-week low of $9.57 and a 52-week high of $16.47. The company has a market cap of $3.00 billion, a PE ratio of 25.33 and a beta of 1.44. The firm has a 50-day moving average of $12.52 and a 200 day moving average of $12.27.

Laredo Petroleum (NYSE:LPI) last announced its earnings results on Monday, August 7th. The oil and gas producer reported $0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.01). The firm had revenue of $187.00 million for the quarter, compared to analyst estimates of $173.32 million. Laredo Petroleum had a return on equity of 49.15% and a net margin of 16.73%. The company’s revenue for the quarter was up 27.5% compared to the same quarter last year. During the same quarter last year, the business earned $0.13 EPS. Equities research analysts expect that Laredo Petroleum, Inc. will post $0.62 earnings per share for the current fiscal year.

Laredo Petroleum Profile

Laredo Petroleum, Inc (Laredo) is an independent energy company. The Company is focused on the acquisition, exploration and development of oil and natural gas properties, and the transportation of oil and natural gas from such properties primarily in the Permian Basin in West Texas. It operates through two segments: Exploration and production of oil and natural gas properties, and Midstream and marketing.

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Institutional Ownership by Quarter for Laredo Petroleum (NYSE:LPI)

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