Laredo Petroleum, Inc. (NYSE:LPI) Shares Sold by Meeder Asset Management Inc.

Meeder Asset Management Inc. reduced its stake in shares of Laredo Petroleum, Inc. (NYSE:LPIGet Rating) by 30.2% during the 2nd quarter, Holdings Channel.com reports. The fund owned 594 shares of the oil and gas producer’s stock after selling 257 shares during the quarter. Meeder Asset Management Inc.’s holdings in Laredo Petroleum were worth $41,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. State Board of Administration of Florida Retirement System purchased a new position in Laredo Petroleum during the 2nd quarter worth $335,000. X Square Capital LLC grew its position in Laredo Petroleum by 9.5% during the 2nd quarter. X Square Capital LLC now owns 43,615 shares of the oil and gas producer’s stock worth $3,007,000 after purchasing an additional 3,769 shares during the last quarter. Loomis Sayles & Co. L P purchased a new position in Laredo Petroleum during the 2nd quarter worth $7,721,000. Nisa Investment Advisors LLC grew its position in Laredo Petroleum by 57.5% during the 2nd quarter. Nisa Investment Advisors LLC now owns 630 shares of the oil and gas producer’s stock worth $43,000 after purchasing an additional 230 shares during the last quarter. Finally, Janney Montgomery Scott LLC purchased a new position in Laredo Petroleum during the 2nd quarter worth $882,000. 77.39% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. Piper Sandler lowered their price objective on shares of Laredo Petroleum from $83.00 to $82.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 18th. StockNews.com started coverage on shares of Laredo Petroleum in a research report on Wednesday, October 12th. They set a “hold” rating on the stock. Finally, Raymond James lowered their target price on shares of Laredo Petroleum from $95.00 to $75.00 and set an “outperform” rating on the stock in a report on Monday, October 24th. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat, Laredo Petroleum currently has an average rating of “Hold” and an average target price of $100.50.

Insider Activity

In other news, insider Jessica R. Wren sold 1,009 shares of Laredo Petroleum stock in a transaction dated Monday, August 22nd. The shares were sold at an average price of $72.02, for a total value of $72,668.18. Following the sale, the insider now owns 3,145 shares of the company’s stock, valued at $226,502.90. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, CEO M. Jason Pigott sold 3,750 shares of the business’s stock in a transaction dated Monday, October 3rd. The shares were sold at an average price of $66.85, for a total transaction of $250,687.50. Following the sale, the chief executive officer now owns 110,657 shares of the company’s stock, valued at $7,397,420.45. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Jessica R. Wren sold 1,009 shares of the business’s stock in a transaction dated Monday, August 22nd. The stock was sold at an average price of $72.02, for a total transaction of $72,668.18. Following the sale, the insider now directly owns 3,145 shares in the company, valued at approximately $226,502.90. The disclosure for this sale can be found here. Insiders have sold a total of 12,259 shares of company stock valued at $833,506 over the last quarter. Corporate insiders own 2.20% of the company’s stock.

Laredo Petroleum Stock Up 3.1 %

Shares of NYSE:LPI opened at $68.60 on Monday. The company has a market cap of $1.15 billion, a price-to-earnings ratio of 1.59 and a beta of 3.34. The firm’s 50-day simple moving average is $66.87 and its 200-day simple moving average is $73.22. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 1.18. Laredo Petroleum, Inc. has a fifty-two week low of $51.22 and a fifty-two week high of $120.86.

Laredo Petroleum Company Profile

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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.

Further Reading

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

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