Insider Selling: Laredo Petroleum VP Sells 10,080 Shares of Stock (LPI)
Laredo Petroleum (NYSE:LPI) VP Patrick J. Curth unloaded 10,080 shares of the stock on the open market in a transaction that occurred on Tuesday, June 10th. The shares were sold at an average price of $28.74, for a total transaction of $289,699.20. Following the transaction, the vice president now directly owns 130,622 shares in the company, valued at approximately $3,754,076. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
LPI has been the subject of a number of recent research reports. Analysts at KLR Group downgraded shares of Laredo Petroleum from an “accumulate” rating to a “hold” rating in a research note on Tuesday, May 13th. They now have a $29.00 price target on the stock, up previously from $2.00. Separately, analysts at TheStreet upgraded shares of Laredo Petroleum from a “hold” rating to a “buy” rating in a research note on Friday, May 9th. Finally, analysts at Brean Capital initiated coverage on shares of Laredo Petroleum in a research note on Friday, May 9th. They set a “buy” rating and a $36.00 price target on the stock. Six analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Laredo Petroleum presently has a consensus rating of “Buy” and an average target price of $33.76.
Laredo Petroleum (NYSE:LPI) traded up 0.24% on Tuesday, hitting $28.83. The stock had a trading volume of 551,683 shares. Laredo Petroleum has a 52-week low of $19.40 and a 52-week high of $34.60. The stock’s 50-day moving average is $28.35 and its 200-day moving average is $26.6. The company has a market cap of $4.072 billion and a P/E ratio of 33.92.
Laredo Petroleum (NYSE:LPI) last released its earnings data on Thursday, May 8th. The company reported $0.49 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.14 by $0.35. The company had revenue of $173.20 million for the quarter, compared to the consensus estimate of $169.86 million. Laredo Petroleum’s revenue was up 5.9% compared to the same quarter last year. Analysts expect that Laredo Petroleum will post $0.96 EPS for the current fiscal year.
Laredo Petroleum, Inc, formerly Laredo Petroleum Holdings, Inc, is focused on the exploration, development and acquisition of oil and natural gas properties primarily in the Permian region of the United States.
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