Arizona State Retirement System boosted its stake in shares of Laredo Petroleum, Inc. (NYSE:LPI – Get Rating) by 6.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,922 shares of the oil and gas producer’s stock after acquiring an additional 245 shares during the quarter. Arizona State Retirement System’s holdings in Laredo Petroleum were worth $310,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also modified their holdings of the company. Nisa Investment Advisors LLC purchased a new position in shares of Laredo Petroleum during the 4th quarter worth approximately $27,000. Newbridge Financial Services Group Inc. raised its stake in shares of Laredo Petroleum by 800.0% during the 1st quarter. Newbridge Financial Services Group Inc. now owns 1,125 shares of the oil and gas producer’s stock worth $89,000 after buying an additional 1,000 shares in the last quarter. Strs Ohio purchased a new position in shares of Laredo Petroleum during the 1st quarter worth approximately $102,000. Mutual of America Capital Management LLC raised its stake in shares of Laredo Petroleum by 8.8% during the 4th quarter. Mutual of America Capital Management LLC now owns 1,959 shares of the oil and gas producer’s stock worth $118,000 after buying an additional 159 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in shares of Laredo Petroleum during the 4th quarter worth approximately $162,000. 73.49% of the stock is owned by hedge funds and other institutional investors.
Insider Transactions at Laredo Petroleum
In other news, CFO Bryan Lemmerman sold 10,522 shares of the firm’s stock in a transaction on Tuesday, July 5th. The stock was sold at an average price of $62.84, for a total transaction of $661,202.48. Following the sale, the chief financial officer now owns 61,113 shares in the company, valued at $3,840,340.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, SVP Mark David Denny sold 2,707 shares of Laredo Petroleum stock in a transaction on Wednesday, June 1st. The stock was sold at an average price of $88.95, for a total value of $240,787.65. Following the transaction, the senior vice president now owns 18,452 shares in the company, valued at $1,641,305.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Bryan Lemmerman sold 10,522 shares of Laredo Petroleum stock in a transaction on Tuesday, July 5th. The shares were sold at an average price of $62.84, for a total value of $661,202.48. Following the completion of the transaction, the chief financial officer now owns 61,113 shares in the company, valued at approximately $3,840,340.92. The disclosure for this sale can be found here. Insiders own 2.20% of the company’s stock.
Analyst Upgrades and Downgrades
Laredo Petroleum Stock Performance
Laredo Petroleum stock opened at $66.46 on Friday. The company has a debt-to-equity ratio of 3.36, a quick ratio of 0.39 and a current ratio of 0.39. The stock has a fifty day moving average of $82.90 and a two-hundred day moving average of $76.32. The company has a market capitalization of $1.15 billion, a price-to-earnings ratio of 11.56 and a beta of 3.53. Laredo Petroleum, Inc. has a fifty-two week low of $36.25 and a fifty-two week high of $120.86.
Laredo Petroleum (NYSE:LPI – Get Rating) last posted its quarterly earnings data on Wednesday, May 4th. The oil and gas producer reported $5.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $6.51 by ($1.34). Laredo Petroleum had a return on equity of 78.66% and a net margin of 7.97%. The business had revenue of $532.40 million for the quarter, compared to analyst estimates of $497.95 million. During the same quarter last year, the business earned $1.71 EPS. Laredo Petroleum’s revenue for the quarter was up 112.8% compared to the same quarter last year. On average, analysts anticipate that Laredo Petroleum, Inc. will post 29.49 EPS for the current fiscal year.
Laredo Petroleum Company Profile
Laredo Petroleum, Inc, an independent energy company, engages in the acquisition, exploration, and development of oil and natural gas properties in the Permian Basin of West Texas, the United States. The company sells oil, natural gas liquids, and natural gas. As of December 31, 2021, it had assembled 166,064 net acres in the Permian Basin; and had total proved undeveloped reserves of 86,592 thousand barrels of oil equivalent.
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