Laredo Petroleum Director L F. Rooney III Acquires 20,882 Shares (LPI)
Laredo Petroleum (NYSE:LPI) Director L F. Rooney III purchased 20,882 shares of the stock on the open market in a transaction that occurred on Thursday, August 14th. The shares were purchased at an average price of $23.50 per share, for a total transaction of $490,727.00. Following the acquisition, the director now directly owns 39,074 shares of the company’s stock, valued at approximately $918,239. The purchase was disclosed in a filing with the SEC, which is available at this link.
A number of research firms have recently commented on LPI. Analysts at Global Hunter Securities cut their price target on shares of Laredo Petroleum from $44.00 to $41.00 in a research note on Tuesday, August 12th. Separately, analysts at Stephens downgraded shares of Laredo Petroleum from an “overweight” rating to an “equal weight” rating in a research note on Monday, August 11th. They now have a $29.00 price target on the stock, down previously from $35.00. Finally, analysts at KLR Group raised their price target on shares of Laredo Petroleum from $2.00 to $27.00 in a research note on Friday, August 8th. Six analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $33.22.
Shares of Laredo Petroleum (NYSE:LPI) traded down 0.91% on Wednesday, hitting $22.91. 1,736,472 shares of the company’s stock traded hands. Laredo Petroleum has a 52 week low of $22.82 and a 52 week high of $34.60. The stock has a 50-day moving average of $27.43 and a 200-day moving average of $27.38. The company has a market cap of $3.238 billion and a price-to-earnings ratio of 52.67.
Laredo Petroleum (NYSE:LPI) last posted its quarterly earnings results on Thursday, August 7th. The company reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by $0.04. The company had revenue of $183.00 million for the quarter, compared to the consensus estimate of $190.23 million. The company’s revenue for the quarter was up 3.2% on a year-over-year basis. On average, analysts predict that Laredo Petroleum will post $0.91 earnings per share 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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