Breaking: Laredo Petroleum Inc Declines Again; Strong Momentum for Sellers

Breaking: Laredo Petroleum Inc Declines Again; Strong Momentum for Sellers

The stock of Laredo Petroleum Inc (NYSE:LPI) is a huge mover today! About 1.97 million shares traded hands. Laredo Petroleum Inc (NYSE:LPI) has risen 68.46% since March 9, 2016 and is uptrending. It has outperformed by 61.05% the S&P500.
The move comes after 6 months negative chart setup for the $3.09 billion company. It was reported on Oct, 12 by We have $12.08 PT which if reached, will make NYSE:LPI worth $216.30M less.

Analysts await Laredo Petroleum Inc (NYSE:LPI) to report earnings on November, 3. They expect $0.13 earnings per share, up 85.71% or $0.06 from last year’s $0.07 per share. LPI’s profit will be $30.92M for 24.98 P/E if the $0.13 EPS becomes a reality. After $0.13 actual earnings per share reported by Laredo Petroleum Inc for the previous quarter, Wall Street now forecasts 0.00% EPS growth.

Laredo Petroleum Inc (NYSE:LPI) Ratings Coverage

Out of 19 analysts covering Laredo Petroleum Holdings Inc (NYSE:LPI), 5 rate it a “Buy”, 0 “Sell”, while 14 “Hold”. This means 26% are positive. Laredo Petroleum Holdings Inc has been the topic of 50 analyst reports since July 21, 2015 according to StockzIntelligence Inc. The stock of Laredo Petroleum Inc (NYSE:LPI) has “Market Perform” rating given on Friday, August 7 by Northland Capital. The stock of Laredo Petroleum Inc (NYSE:LPI) earned “Hold” rating by Zacks on Monday, August 10. The firm has “Market Perform” rating by Cowen & Co given on Monday, April 18. Imperial Capital initiated the stock with “In-Line” rating in Thursday, May 26 report. The stock of Laredo Petroleum Inc (NYSE:LPI) has “Hold” rating given on Monday, March 14 by KLR Group. As per Thursday, December 3, the company rating was initiated by Nomura. The firm earned “Sector Perform” rating on Tuesday, October 13 by IBERIA. The rating was downgraded by Zacks to “Buy” on Wednesday, August 12. The rating was maintained by Topeka Capital Markets with “Buy” on Tuesday, January 26. Topeka Capital Markets maintained the stock with “Buy” rating in Thursday, August 6 report.

According to Zacks Investment Research, “Laredo Petroleum Holdings, Inc. is engaged in the exploration, development and acquisition of oil and natural gas properties in the Permian and Mid-Continent regions of the United States. Laredo Petroleum Holdings, Inc. is headquartered in Tulsa, Oklahoma.”

Insitutional Activity: The institutional sentiment increased to 1.77 in 2016 Q2. Its up 1.06, from 0.71 in 2016Q1. The ratio is positive, as 20 funds sold all Laredo Petroleum Inc shares owned while 32 reduced positions. 33 funds bought stakes while 59 increased positions. They now own 236.22 million shares or 5.15% more from 224.65 million shares in 2016Q1.
Comerica Comml Bank accumulated 0% or 13,035 shares. Utah Retirement System holds 0.01% or 24,366 shares in its portfolio. National Bank & Trust Of America Corp De reported 175,773 shares or 0% of all its holdings. Swiss Comml Bank has invested 0% of its portfolio in Laredo Petroleum Inc (NYSE:LPI). The New York-based Blackrock Inc has invested 0.01% in Laredo Petroleum Inc (NYSE:LPI). Cibc Mkts, a Ontario – Canada-based fund reported 16,971 shares. The Germany-based Allianz Asset Management Ag has invested 0% in Laredo Petroleum Inc (NYSE:LPI). Teacher Retirement Of Texas accumulated 17,535 shares or 0% of the stock. Jane Street Gp Lc has invested 0% of its portfolio in Laredo Petroleum Inc (NYSE:LPI). Ladenburg Thalmann Ser Incorporated accumulated 0% or 3,705 shares. Wafra Investment Advisory Incorporated Ny has invested 0.4% of its portfolio in Laredo Petroleum Inc (NYSE:LPI). State Of Wisconsin Inv Board has invested 0% of its portfolio in Laredo Petroleum Inc (NYSE:LPI). Ibm Retirement Fund last reported 13,548 shares in the company. Natl Bank Of New York Mellon last reported 774,432 shares in the company. Vanguard Grp Inc Inc holds 0.01% or 9.75M shares in its portfolio.

LPI Company Profile

Laredo Petroleum, Inc. (Laredo), incorporated in August 12, 2011, is an independent energy company. The Firm 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. The Company’s divisions include Exploration and production, and Midstream and marketing. The exploration and production of oil and natural gas properties are conducted principally by the Company through the exploration and development of its acreage in the Permian Basin. The Firm has assembled approximately 135,410 net acres in the Permian Basin and has total proved reserves presented on a three-stream basis of over 125,700 thousand barrel of oil equivalent (MBOE). The Midstream and marketing segment’s activities are conducted principally by its subsidiary, Laredo Midstream Services, LLC (LMS), which buys, sells, gathers and transports oil, natural gas and water primarily for the account of Laredo. This system gathers, transports and delivers over 69,000 barrels per day. It is conducting hydraulic fracturing activity in the completion of both its vertical and horizontal wells in the Permian Basin.

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