Laredo Petroleum (NYSE:LPI) Posts Earnings Results

Laredo Petroleum (NYSE:LPI) released its quarterly earnings results on Sunday. The oil and gas producer reported $3.23 EPS for the quarter, topping analysts’ consensus estimates of $3.19 by $0.04, Fidelity Earnings reports. Laredo Petroleum had a negative net margin of 111.63% and a positive return on equity of 23.92%.

Shares of NYSE LPI traded up $0.61 during trading hours on Tuesday, hitting $36.90. 28,090 shares of the stock were exchanged, compared to its average volume of 467,705. The company has a debt-to-equity ratio of 8.61, a current ratio of 1.39 and a quick ratio of 1.39. The company’s 50 day moving average is $27.98 and its 200 day moving average is $17.06. The firm has a market capitalization of $442.95 million, a P/E ratio of -0.49 and a beta of 4.72. Laredo Petroleum has a one year low of $6.60 and a one year high of $39.42.

A number of research firms have commented on LPI. Siebert Williams Shank restated a “hold” rating and set a $26.00 price target on shares of Laredo Petroleum in a research report on Tuesday, February 2nd. Zacks Investment Research upgraded shares of Laredo Petroleum from a “sell” rating to a “hold” rating in a research report on Wednesday, December 9th. Finally, Piper Sandler dropped their price target on shares of Laredo Petroleum from $20.00 to $14.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 11th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target 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 transaction of $4,909,111.52. Following the completion of the sale, the insider now directly owns 19,200 shares of the company’s stock, valued at approximately $230,592. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 3.20% of the stock is currently owned by corporate insiders.

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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