Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Laredo Petroleum Inc. shares valued at $661,201 were sold by Lemmerman Bryan on Jul 05. At $62.84 per share, Lemmerman Bryan sold 10,522 shares. The insider’s holdings dropped to 61,113 shares worth approximately $4.06 million following the completion of this transaction.
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Also, Denny Mark David sold 2,707 shares, netting a total of over 240,788 in proceeds. Following the sale of shares at $88.95 each, the insider now holds 18,452 shares.
Before that, Denny Mark David had sold 2,626 shares from its account. In a trade valued at $183,032, the SVP, Gen. Counsel & Secretary traded Laredo Petroleum Inc. shares for $69.70 each. Upon closing the transaction, the insider’s holdings decreased to 2,626 shares, worth approximately $1.41 million.
As published in a research note from Piper Sandler on April 07, 2022, Laredo Petroleum Inc. [LPI] has been rated up from a Neutral to an Overweight and the price target has been revised to $115 from $93. This represents a 42.21% premium over Thursday’s closing price. Analysts at Siebert Williams Shank upgraded the stock from ‘”a Hold”‘ to ‘”a Buy”‘ outlook in a report released in early March. As of July 08, 2021, Siebert Williams Shank has decreased its “Buy” rating to a “Hold” for LPI. Earlier on May 13, 2021, Siebert Williams Shank upgraded its rating. Their new recommendation was “a Buy” for LPI stock which previously was a “a Hold”.
Analyzing LPI’s Price Performance
On Thursday, Laredo Petroleum Inc. [NYSE: LPI] plunged -17.63% to $66.46. The stock’s lowest price that day was $66.16, but it reached a high of $78.401 in the same session. During the last five days, there has been a drop of approximately -21.16%. Over the course of the year, Laredo Petroleum Inc. shares have jumped approximately 10.53%. Shares of the company reached a 52-week high of $120.86 on 06/08/22 and a 52-week low of $54.09 on 05/12/22. A 50-day SMA is recorded $82.48, while a 200-day SMA reached $73.81. Nevertheless, trading volume fell to 2.26 million shares from 0.38 million shares the previous day.
Support And Resistance Levels for Laredo Petroleum Inc. (LPI)
According to the 24-hour chart, there is a support level at 62.28, which, if violated, would cause prices to drop to 58.10. In the upper region, resistance lies at 74.52. The next price resistance is at 82.58. RSI (Relative Strength Index) is 38.58 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -1.62, which suggests the price will decrease in the coming days. Percent R is at 98.76%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.
Is Laredo Petroleum Inc. subject to short interest?
Stocks of Laredo Petroleum Inc. saw a sharp rise in short interest on Jul 14, 2022 jumping by 50000.0 shares to 1.35 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 1.3 million shares. A jump of 3.7% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 1.42 of the overall float, the days-to-cover ratio (short ratio) jumped to 1.42.
Which companies own the most shares of Laredo Petroleum Inc. (LPI)?
According to SSgA Funds Management, Inc. filings, the company currently owns 2,085,000 shares, which is about 12.05% of the total LPI shares outstanding. The investor’s shares have appreciated by 507,541 from its previous 13-F filing of 1577459.0 shares. With the completion of the buy transaction, BlackRock Fund Advisors’s stake is now worth $142,668,572. The Vanguard Group, Inc. reduced a -5.47% interest valued at $68.89 million while Maple Rock Capital Partners, Inc. sold a -89,718 stake. A total of 383,713 shares of Laredo Petroleum Inc. were sold by Merewether Investment Management during the quarter, and 371,824 by Millennium Management LLC. In its current portfolio, Dimensional Fund Advisors LP holds 356,625 shares valued at $24.59 million.
In terms of Laredo Petroleum Inc. share price expectations, FactSet research, analysts set an average price target of $121.13 in the next 12 months, up nearly 42.54% from the previous closing price of $80.68. Analysts anticipate Laredo Petroleum Inc. stock to reach $172.00 by 2022, with the lowest price target being $85.00. In spite of this, 8 analysts ranked Laredo Petroleum Inc. stock as an Overweight at the end of 2022. On September 14, 2020, Wells Fargo assigned a price target of “an Underweight” to the stock and downgraded coverage with a $22.