Marshall Wace North America L.P. Takes Position in Laredo Petroleum Inc (LPI)

Marshall Wace North America L.P. acquired a new position in shares of Laredo Petroleum Inc (NYSE:LPI) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 1,800,000 shares of the oil and gas producer’s stock, valued at approximately $14,706,000. Marshall Wace North America L.P. owned 0.77% of Laredo Petroleum at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. Aperio Group LLC increased its holdings in Laredo Petroleum by 435.2% in the second quarter. Aperio Group LLC now owns 143,703 shares of the oil and gas producer’s stock valued at $1,382,000 after buying an additional 116,855 shares during the last quarter. First Trust Advisors LP increased its holdings in Laredo Petroleum by 563.5% in the second quarter. First Trust Advisors LP now owns 296,874 shares of the oil and gas producer’s stock valued at $2,856,000 after buying an additional 252,132 shares during the last quarter. Victory Capital Management Inc. increased its holdings in Laredo Petroleum by 2,827.1% in the second quarter. Victory Capital Management Inc. now owns 563,927 shares of the oil and gas producer’s stock valued at $5,425,000 after buying an additional 544,661 shares during the last quarter. Virginia Retirement Systems ET AL purchased a new position in Laredo Petroleum in the second quarter valued at $642,000. Finally, Sei Investments Co. increased its holdings in Laredo Petroleum by 99.7% in the second quarter. Sei Investments Co. now owns 179,979 shares of the oil and gas producer’s stock valued at $1,732,000 after buying an additional 89,857 shares during the last quarter.

Several research firms recently commented on LPI. Zacks Investment Research raised Laredo Petroleum from a “hold” rating to a “buy” rating and set a $6.00 target price on the stock in a report on Friday, October 26th. Williams Capital reissued a “hold” rating and issued a $8.00 target price on shares of Laredo Petroleum in a report on Tuesday, November 6th. Finally, MKM Partners began coverage on Laredo Petroleum in a report on Wednesday. They issued a “buy” rating and a $9.00 target price on the stock. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $11.23.

In other Laredo Petroleum news, Director Peter Kagan sold 12,300,000 shares of the firm’s stock in a transaction dated Thursday, September 27th. The stock was sold at an average price of $8.08, for a total transaction of $99,384,000.00. Following the transaction, the director now owns 115,107 shares of the company’s stock, valued at $930,064.56. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, major shareholder Pincus Private Equity Warburg sold 14,200,000 shares of the firm’s stock in a transaction dated Tuesday, September 11th. The stock was sold at an average price of $7.42, for a total value of $105,364,000.00. The disclosure for this sale can be found here. Company insiders own 2.20% of the company’s stock.

Shares of LPI stock opened at $4.56 on Friday. The stock has a market cap of $1.04 billion, a price-to-earnings ratio of 4.66, a PEG ratio of 0.87 and a beta of 1.62. Laredo Petroleum Inc has a 1 year low of $4.24 and a 1 year high of $11.68. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.73 and a current ratio of 0.73.

Laredo Petroleum (NYSE:LPI) last issued its quarterly earnings data on Monday, November 5th. The oil and gas producer reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.30 by ($0.03). The firm had revenue of $279.70 million for the quarter, compared to analysts’ expectations of $276.95 million. Laredo Petroleum had a return on equity of 24.30% and a net margin of 51.61%. The business’s revenue for the quarter was up 35.9% compared to the same quarter last year. During the same period in the previous year, the business posted $0.13 EPS. Analysts predict that Laredo Petroleum Inc will post 1.02 earnings per share for the current year.

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Laredo Petroleum Company Profile

Laredo Petroleum, Inc operates as an independent energy company in the United States. It operates through two segments, Exploration and Production; and Midstream and Marketing. The company engages in the acquisition, exploration, and development of oil and natural gas properties; and the transportation of oil and natural gas primarily in the Permian Basin in West Texas, as well as rig fuel, natural gas lift, and water delivery and takeaway services.

Further Reading: Investing in Growth Stocks

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

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