Laredo Petroleum (NYSE:LPI) has climbed 0.18% in the past week and advanced 2.55% in the last 4 weeks. In the past week, the company has outperformed the S&P 500 by 1.38% and the outperformance has advanced to 1.61% for the last 4 weeks period.
Laredo Petroleum (NYSE:LPI): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $11.17 and $11.02 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $11.49. The buying momentum continued till the end and the stock did not give up its gains. It closed at $11.28, notching a gain of 4.25% for the day. The total traded volume was 3,662,719 . The stock had closed at $10.82 on the previous day.
The company shares have dropped -21.39% from its 1 Year high price. On Jun 22, 2015, the shares registered one year high at $14.57 and the one year low was seen on Feb 19, 2016. The 50-Day Moving Average price is $11.71 and the 200 Day Moving Average price is recorded at $8.81.
On the companys insider trading activities, Foutch Randy A, CEO of Laredo Petroleum, Inc., executed a transaction worth $99,765 on February 19, 2016. A total of 22,072 shares were purchased at an average price of $4.52. The Insider information was divulged by the Securities and Exchange Commission in a Form 4 filing. The information is based on open market trades at the market prices.Option exercises are not covered.
Many analysts have stated their opinion on the company shares. In a research note released to the investors, iBERIA Capital Partners upgrades its rating on Laredo Petroleum (NYSE:LPI).The analysts at the brokerage house have a current rating of Outperform on the shares. Earlier, the shares were rated a Sector Perform by the brokerage firm. In a recent information released to the investors, iBERIA Capital Partners raises the new price target from $8 per share to $14 per share. The rating by the firm was issued on June 14, 2016. Currently the company Insiders own 1.5% of Laredo Petroleum shares according to the proxy statements. During last six month period, the net percent change held by insiders has seen a change of 6.63%.
Laredo Petroleum, Inc. (Laredo) is an independent energy company, focused on the acquisition, exploration and development of oil and natural gas properties primarily in the Permian Basin in West Texas. The Companys Permian Basin is comprised of several distinct geological provinces, including the Midland Basin to the east, the Delaware Basin to the west and the Central Platform in the middle. The Permian Basin is located in West Texas and Southeastern New Mexico, where the Company has assembled approximately 196,683 net acres. Its primary production and exploitation fairway (Permian-Garden City area) is located on the eastern side of the basin 35 miles east of Midland, Texas, and extends 20 miles wide (east/west) and 85 miles long (north/south) in Howard, Glasscock, Reagan, Sterling, Irion and Tom Green counties. It holds approximately 155,405 net acres in 360 sections in the Permian-Garden City area.