Notable Price Action: Can Laredo Petroleum Inc’s Tomorrow be Different? The Stock Just Broke Its High

Notable Price Action: Can Laredo Petroleum Inc's Tomorrow be Different? The Stock Just Broke Its High

The stock of Laredo Petroleum Inc (NYSE:LPI) hit a new 52-week high and has $22.43 target or 61.00% above today’s $13.93 share price. The 5 months bullish chart indicates low risk for the $3.62 billion company. The 1-year high was reported on Nov, 16 by Barchart.com. If the $22.43 price target is reached, the company will be worth $2.21 billion 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 274,496 shares traded hands. Laredo Petroleum Inc (NYSE:LPI) has risen 39.65% since April 14, 2016 and is uptrending. It has outperformed by 34.96% 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 firm earned “Buy” rating on Thursday, August 6 by Topeka Capital Markets. Williams Capital Group initiated the shares of LPI in a report on Monday, August 29 with “Hold” rating. Cowen & Co downgraded Laredo Petroleum Inc (NYSE:LPI) on Monday, April 18 to “Market Perform” rating. The firm has “Market Perform” rating given on Monday, August 10 by Raymond James. On Wednesday, May 11 the stock rating was maintained by Topeka Capital Markets with “Buy”. The stock has “Neutral” rating given by Seaport Global on Tuesday, August 30. The stock of Laredo Petroleum Inc (NYSE:LPI) earned “Equal-Weight” rating by Stephens on Thursday, February 18. The company was initiated on Friday, August 14 by KeyBanc Capital Markets. The stock of Laredo Petroleum Inc (NYSE:LPI) earned “Accumulate” rating by KLR Group on Thursday, February 18. JP Morgan upgraded the stock to “Neutral” rating in Friday, May 13 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 Q2 2016. Its up 1.06, from 0.71 in 2016Q1. The ratio improved, 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.
Metropolitan Life Ny holds 3,967 shares or 0% of its portfolio. Zacks Investment Mgmt holds 0.03% of its portfolio in Laredo Petroleum Inc (NYSE:LPI) for 78,853 shares. Walleye Trading Limited Liability Company last reported 0% of its portfolio in the stock. Oppenheimer And Inc last reported 0.01% of its portfolio in the stock. Credit Suisse Ag holds 303,379 shares or 0% of its portfolio. Arosa Cap Lp owns 200,000 shares or 0.26% of their US portfolio. Morgan Stanley accumulated 323,709 shares or 0% of the stock. Gradient Investments last reported 3 shares in the company. Engineers Gate Manager L P accumulated 0.07% or 98,916 shares. Blackrock Advsrs Lc holds 0% or 75,539 shares in its portfolio. Strs Ohio holds 0% of its portfolio in Laredo Petroleum Inc (NYSE:LPI) for 95,250 shares. Amalgamated Bancorporation holds 0.01% of its portfolio in Laredo Petroleum Inc (NYSE:LPI) for 16,206 shares. Oxford Asset Management, a United Kingdom-based fund reported 346,853 shares. Goldman Sachs Gru holds 0% of its portfolio in Laredo Petroleum Inc (NYSE:LPI) for 745,344 shares. Quantitative Investment Management Limited Co last reported 173,100 shares in the company.

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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