Laredo Petroleum Inc (LPI) was Upgraded by CapitalOne to ” Overweight”. Earlier the firm had a rating of “Equal Weight ” on the company shares. CapitalOne advised their investors in a research report released on Aug 24, 2016.
Many Wall Street Analysts have commented on Laredo Petroleum Inc. Barclays Initiated Laredo Petroleum Inc on Jun 21, 2016 to “Overweight”, Price Target of the shares are set at $14.Laredo Petroleum Inc was Upgraded by Iberia to ” Outperform” on Jun 14, 2016.
On the company’s financial health, Laredo Petroleum Inc reported $0.13 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on Aug 3, 2016. Analyst had a consensus of $0.10. The company had revenue of $146.77 million for the quarter, compared to analysts expectations of $123.51 million. The company’s revenue was down -19.5 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.05 EPS.
Laredo Petroleum Inc (LPI) witnessed a volatile trading activity on Tuesday , and eventually ended flat at 0.00% or 0 points without letting the bulls or bears take much advantage. The trading began at $12.38 and reached the intraday high at $12.82. The bulls started the profit booking and pushed the shares to intraday low of $12.35. The trading session was marked by a volume range of 21,81,035 shares exchanging hands. The 52-week high of the shares is $14.19 and the 52-week low is $3.9. The market cap of the company stands at $3,018 M and there are 24,01,24,870 shares in public circulation.
In a different news, on Apr 4, 2016, Randy A Foutch (CEO) purchased 22,072 shares at $4.52 per share price. According to the SEC, on May 12, 2015, Patrick J Curth (Sr. VP – Exploration & Land) sold 15,200 shares at $13.47 per share price.
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 Company’s 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 196683 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 155405 net acres in 360 sections in the Permian-Garden City area.