Laredo Petroleum (NYSE:LPI) Announces Quarterly Earnings Results


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Laredo Petroleum (NYSE:LPI) posted its quarterly earnings data on Sunday. The oil and gas producer reported $3.23 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $3.19 by $0.04, Fidelity Earnings reports. Laredo Petroleum had a positive return on equity of 23.92% and a negative net margin of 111.63%.

Shares of Laredo Petroleum stock opened at $36.29 on Tuesday. The company has a market capitalization of $435.63 million, a P/E ratio of -0.54 and a beta of 4.72. The company has a debt-to-equity ratio of 8.61, a quick ratio of 1.39 and a current ratio of 1.39. The company has a fifty day moving average of $27.98 and a 200 day moving average of $17.06. Laredo Petroleum has a fifty-two week low of $6.60 and a fifty-two week high of $39.42.

Several equities analysts have recently issued reports on LPI shares. Piper Sandler lowered their target price on shares of Laredo Petroleum from $20.00 to $14.00 and set a “neutral” rating for the company in a report on Wednesday, November 11th. Zacks Investment Research upgraded shares of Laredo Petroleum from a “sell” rating to a “hold” rating in a report on Wednesday, December 9th. Finally, Siebert Williams Shank restated a “hold” rating and issued a $26.00 price objective on shares of Laredo Petroleum in a report on Tuesday, February 2nd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $22.33.

In related news, major shareholder Pincus Private Equity Warburg sold 408,752 shares of the company’s stock in a transaction on Monday, November 30th. The shares were sold at an average price of $12.01, for a total value of $4,909,111.52. Following the completion of the transaction, the insider now owns 19,200 shares of the company’s stock, valued at approximately $230,592. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 3.20% of the company’s stock.

Laredo Petroleum Company Profile

Laredo Petroleum, Inc, an independent energy company, engages in the acquisition, exploration, and development of oil and natural gas properties in the Permian Basin of West Texas, the United States. The company also engages in midstream and marketing infrastructure activities, including transportation and marketing of oil and natural gas, and handling of fresh, recycled, and produced water, as well as operates natural gas lift facilities.

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Earnings History for Laredo Petroleum (NYSE:LPI)

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