Today, PNC Financial Services Group Inc. decides to keep it stake in Laredo Petroleum Inc. (LPI) to the level of $186,000

Today, PNC Financial Services Group Inc. decides to keep it stake in Laredo Petroleum Inc. (LPI) to the level of $186,000

PNC Financial Services Group Inc. maintained its stake in shares of Laredo Petroleum Inc. (NYSE:LPI) during the second quarter, according to its most recent filing with the SEC. The fund owned 17,736 shares of the company’s stock at the end of the second quarter. PNC Financial Services Group Inc.’s holdings in Laredo Petroleum were worth $186,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. IBM Retirement Fund increased its stake in shares of Laredo Petroleum by 8.8% in the second quarter. IBM Retirement Fund now owns 13,548 shares of the company’s stock valued at $142,000 after buying an additional 1,099 shares in the last quarter. CIBC World Markets Inc. purchased a new stake in shares of Laredo Petroleum during the second quarter valued at approximately $178,000. Societe Generale purchased a new stake in shares of Laredo Petroleum during the second quarter valued at approximately $245,000. SG Americas Securities LLC purchased a new stake in shares of Laredo Petroleum during the second quarter valued at approximately $245,000. Finally, Utah Retirement Systems increased its stake in shares of Laredo Petroleum by 10.4% in the second quarter. Utah Retirement Systems now owns 24,366 shares of the company’s stock valued at $256,000 after buying an additional 2,300 shares in the last quarter. Institutional investors own 98.78% of the company’s stock.

Shares of Laredo Petroleum Inc. (NYSE:LPI) traded down 0.702% during midday trading on Thursday, reaching $13.445. 1,479,881 shares of the company were exchanged. The company has a 50 day moving average price of $12.33 and a 200-day moving average price of $11.08. Laredo Petroleum Inc. has a 12-month low of $3.90 and a 12-month high of $14.19. The stock’s market capitalization is $3.00 billion.

Laredo Petroleum (NYSE:LPI) last issued its earnings results on Wednesday, August 3rd. The company reported ($0.33) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.10 by $0.43. Laredo Petroleum had a positive return on equity of 24.95% and a negative net margin of 391.74%. The business earned $146.77 million during the quarter, compared to analysts’ expectations of $138.30 million. During the same period last year, the firm posted $0.05 EPS. Laredo Petroleum’s quarterly revenue was down 19.5% compared to the same quarter last year. On average, analysts forecast that Laredo Petroleum Inc. will post $0.47 earnings per share for the current fiscal year.

Several equities analysts recently weighed in on LPI shares. Zacks Investment Research lowered shares of Laredo Petroleum from a “buy” rating to a “hold” rating in a research report on Thursday, August 11th. Williams Capital started coverage on shares of Laredo Petroleum in a research report on Monday, August 29th. They set a “hold” rating and a $14.00 price target for the company. Capital One Financial Corp. upgraded shares of Laredo Petroleum from an “equal weight” rating to an “overweight” rating and set a $15.00 price target for the company in a research report on Wednesday, August 24th. Seaport Global Securities upgraded shares of Laredo Petroleum from a “sell” rating to a “neutral” rating and increased their price target for the company from $8.00 to $11.00 in a research report on Tuesday, August 30th. Finally, Barclays PLC started coverage on shares of Laredo Petroleum in a research report on Tuesday, June 21st. They set an “overweight” rating and a $14.00 price target for the company. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and eight have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $12.79.

In other news, VP Patrick J. Curth sold 17,000 shares of the company’s stock in a transaction dated Monday, August 29th. The shares were sold at an average price of $12.57, for a total transaction of $213,690.00. Following the completion of the sale, the vice president now owns 172,926 shares of the company’s stock, valued at approximately $2,173,679.82. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.50% of the company’s stock.

About Laredo Petroleum

Laredo Petroleum, Inc (Laredo) is an independent energy company 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 segments include Exploration and production, and Midstream and marketing.

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