Laredo Petroleum (NYSE:LPI) released its quarterly earnings data on Sunday. The oil and gas producer reported $3.23 earnings per share (EPS) for the quarter, beating the consensus estimate 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 LPI stock traded up $0.61 during trading hours on Tuesday, hitting $36.90. The company’s stock had a trading volume of 28,090 shares, compared to its average volume of 467,705. The business has a fifty day moving average of $27.98 and a 200-day moving average of $17.06. The stock has a market cap of $442.95 million, a price-to-earnings ratio of -0.49 and a beta of 4.72. Laredo Petroleum has a twelve month low of $6.60 and a twelve month high of $39.42. The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 8.61.
Several research analysts recently issued reports on the stock. Piper Sandler cut their price target 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. Siebert Williams Shank reaffirmed a “hold” rating and issued a $26.00 target price on shares of Laredo Petroleum in a report on Tuesday, February 2nd. Finally, Zacks Investment Research raised shares of Laredo Petroleum from a “sell” rating to a “hold” rating in a report on Wednesday, December 9th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $22.33.
In other news, major shareholder Pincus Private Equity Warburg sold 408,752 shares of the stock in a transaction that occurred 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 sale, the insider now directly owns 19,200 shares in the company, valued at $230,592. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.20% of the stock is owned by corporate insiders.
About Laredo Petroleum
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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