Price Change to Note: Laredo Petroleum Inc on Focus After Trading At 52-Week Highs

Price Change to Note: Laredo Petroleum Inc on Focus After Trading At 52 Week Highs

The stock of Laredo Petroleum Inc (NYSE:LPI) hit a new 52-week high and has $20.75 target or 39.00% above today’s $14.93 share price. The 9 months bullish chart indicates low risk for the $3.71 billion company. The 1-year high was reported on Nov, 21 by If the $20.75 price target is reached, the company will be worth $1.45B more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 1.39 million shares traded hands. Laredo Petroleum Inc (NYSE:LPI) has risen 33.15% since April 19, 2016 and is uptrending. It has outperformed by 29.29% the S&P500.

Laredo Petroleum Inc (NYSE:LPI) Ratings Coverage

Out of 20 analysts covering Laredo Petroleum Holdings Inc (NYSE:LPI), 5 rate it a “Buy”, 1 “Sell”, while 14 “Hold”. This means 25% are positive. Laredo Petroleum Holdings Inc has been the topic of 51 analyst reports since July 21, 2015 according to StockzIntelligence Inc. The stock of Laredo Petroleum Inc (NYSE:LPI) has “Hold” rating given on Monday, August 10 by Zacks. The rating was maintained by Scotia Capital with “Sector Perform” on Saturday, August 15. As per Wednesday, December 2, the company rating was initiated by Deutsche Bank. Iberia Capital Partners downgraded it to “Sector Perform” rating and $12 target price in Tuesday, October 13 report. The rating was upgraded by Raymond James on Monday, August 10 to “Market Perform”. iBERIA Capital Partners upgraded the shares of LPI in a report on Tuesday, June 14 to “Outperform” rating. The stock has “Sector Perform” rating given by IBERIA on Tuesday, October 13. The firm has “In-Line” rating by Imperial Capital given on Thursday, May 26. KLR Group upgraded Laredo Petroleum Inc (NYSE:LPI) on Thursday, February 18 to “Accumulate” rating. The stock of Laredo Petroleum Inc (NYSE:LPI) earned “Sector Perform” rating by Howard Weil on Friday, August 14.

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 decreased to 1.47 in 2016 Q2. Its down 0.30, from 1.77 in 2016Q1. The ratio turned negative, 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.
California State Teachers Retirement Systems holds 0.01% of its portfolio in Laredo Petroleum Inc (NYSE:LPI) for 291,504 shares. Guggenheim Cap Limited Liability has invested 0.02% of its portfolio in Laredo Petroleum Inc (NYSE:LPI). Parametric Portfolio Assocs Ltd Llc accumulated 0.01% or 370,898 shares. Northern Tru has 675,581 shares for 0% of their US portfolio. Amalgamated Bancorp has invested 0.01% of its portfolio in Laredo Petroleum Inc (NYSE:LPI). State Common Retirement Fund has 0.01% invested in the company for 882,696 shares. Advisory Ser Network Limited Liability Com reported 300 shares or 0% of all its holdings. Strs Ohio owns 95,250 shares or 0% of their US portfolio. Legal And General Grp Public Ltd Com, a United Kingdom-based fund reported 9,208 shares. Pinebridge Invs L P has 0.06% invested in the company for 102,747 shares. Jpmorgan Chase And Communications reported 1,321 shares or 0% of all its holdings. Arosa Management Limited Partnership holds 200,000 shares or 0.26% of its portfolio. The Germany-based Deutsche Bancshares Ag has invested 0% in Laredo Petroleum Inc (NYSE:LPI). Citigroup owns 5,300 shares or 0% of their US portfolio. Zurcher Kantonalbank (Zurich Cantonalbank) owns 3,902 shares or 0% of their US 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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