Laredo Petroleum (NYSE:LPI) announced that its Board of Directors has initiated a share repurchase program, which permits the company to repurchase $200.00 million in outstanding shares on Wednesday, February 14th, EventVestor reports. This repurchase authorization permits the oil and gas producer to buy shares of its stock through open market purchases. Shares repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.
Shares of Laredo Petroleum (LPI) traded down $0.04 during midday trading on Thursday, reaching $7.89. 2,851,779 shares of the company were exchanged, compared to its average volume of 3,435,558. Laredo Petroleum has a one year low of $7.41 and a one year high of $15.15. The stock has a market cap of $2,020.00, a PE ratio of 16.68, a P/E/G ratio of 1.48 and a beta of 1.21. The company has a debt-to-equity ratio of 4.16, a quick ratio of 0.64 and a current ratio of 0.64.
Laredo Petroleum (NYSE:LPI) last released its quarterly earnings data on Wednesday, February 14th. The oil and gas producer reported $0.19 earnings per share for the quarter, beating analysts’ consensus estimates of $0.18 by $0.01. The business had revenue of $240.34 million during the quarter, compared to analyst estimates of $212.57 million. Laredo Petroleum had a net margin of 15.92% and a return on equity of 43.77%. Laredo Petroleum’s revenue was up 30.4% compared to the same quarter last year. During the same period last year, the business earned $0.16 EPS. research analysts anticipate that Laredo Petroleum will post 0.5 earnings per share for the current year.
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Laredo Petroleum Company Profile
Laredo Petroleum, Inc (Laredo) is an independent energy company. The Company 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. It operates through two segments: Exploration and production of oil and natural gas properties, and Midstream and marketing.
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