Teacher Retirement System of Texas lifted its position in shares of Laredo Petroleum Inc (NYSE:LPI) by 299.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 52,239 shares of the oil and gas producer’s stock after buying an additional 39,155 shares during the period. Teacher Retirement System of Texas’ holdings in Laredo Petroleum were worth $554,000 at the end of the most recent quarter.
Several other hedge funds have also recently bought and sold shares of LPI. Chicago Equity Partners LLC acquired a new position in Laredo Petroleum during the third quarter valued at approximately $1,177,000. Legal & General Group Plc boosted its position in Laredo Petroleum by 18.4% during the third quarter. Legal & General Group Plc now owns 62,768 shares of the oil and gas producer’s stock valued at $812,000 after purchasing an additional 9,754 shares during the last quarter. Campbell & CO Investment Adviser LLC acquired a new position in Laredo Petroleum during the third quarter valued at approximately $340,000. BNP Paribas Arbitrage SA boosted its position in Laredo Petroleum by 64.2% during the third quarter. BNP Paribas Arbitrage SA now owns 27,485 shares of the oil and gas producer’s stock valued at $355,000 after purchasing an additional 10,750 shares during the last quarter. Finally, Ashburton Jersey Ltd boosted its position in Laredo Petroleum by 215.0% during the third quarter. Ashburton Jersey Ltd now owns 129,960 shares of the oil and gas producer’s stock valued at $1,680,000 after purchasing an additional 88,700 shares during the last quarter.
Several research analysts recently commented on LPI shares. Piper Jaffray Companies reissued a “buy” rating and set a $15.00 price target on shares of Laredo Petroleum in a research report on Tuesday, January 30th. National Securities started coverage on Laredo Petroleum in a research report on Tuesday, January 16th. They set a “buy” rating for the company. Zacks Investment Research raised Laredo Petroleum from a “hold” rating to a “buy” rating and set a $13.00 price target for the company in a research report on Wednesday, January 24th. Credit Suisse Group started coverage on Laredo Petroleum in a research report on Monday, December 11th. They set a “neutral” rating and a $12.00 price target for the company. Finally, Scotiabank set a $14.00 price target on Laredo Petroleum and gave the company a “hold” rating in a research report on Wednesday, November 22nd. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and six have issued a buy rating to the company. Laredo Petroleum presently has an average rating of “Hold” and an average price target of $12.91.
Laredo Petroleum (NYSE:LPI) last released its quarterly earnings data on Wednesday, February 14th. The oil and gas producer reported $0.19 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.18 by $0.01. Laredo Petroleum had a return on equity of 30.02% and a net margin of 66.77%. The company had revenue of $240.34 million during the quarter, compared to analysts’ expectations of $212.57 million. During the same period last year, the firm posted $0.16 earnings per share. The business’s revenue was up 30.4% on a year-over-year basis. sell-side analysts anticipate that Laredo Petroleum Inc will post 1.02 EPS for the current year.
Laredo Petroleum declared that its Board of Directors has authorized a share buyback program on Wednesday, February 14th that permits the company to buyback $200.00 million in outstanding shares. This buyback authorization permits the oil and gas producer to buy shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its shares are undervalued.
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About Laredo Petroleum
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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