Laredo Petroleum (LPI) : Traders are bullish on Laredo Petroleum (LPI) as it has outperformed the S&P 500 by a wide margin of 31.43% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 15.13%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 15.09% in the last 1 week, and is up 31.93% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
Laredo Petroleum, Inc. is up 17.18% in the last 3-month period. Year-to-Date the stock performance stands at 61.33%. The stock has recorded a 20-day Moving Average of 19.92% and the 50-Day Moving Average is 19.16%.
Laredo Petroleum (NYSE:LPI): The stock was completely flat for the day, closing at $12.89 on Friday. The flat closing masks the intraday volatility in the stock. After opening at $12.74, the stock touched an intraday high of $12.99 and a low of $12.45. Neither the bulls nor the bears asserted their supremacy at close, due to which the stock closed completely flat. The stock previously closed at $12.89. The total trading volume on Friday was 2,917,275.
Also, Barclays maintains its view on Laredo Petroleum (NYSE:LPI) according to the research report released by the firm to its investors. The shares have now been rated Overweight by the stock experts at the ratings house. Barclays raises the price target from $14 per share to $15 per share on Laredo Petroleum . The rating by the firm was issued on August 5, 2016.
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.