Laredo Petroleum (NYSE:LPI) issued its quarterly earnings data on Sunday. The oil and gas producer reported $3.23 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $3.19 by $0.04, Fidelity Earnings reports. Laredo Petroleum had a positive return on equity of 23.92% and a negative net margin of 111.63%.
NYSE LPI opened at $35.51 on Tuesday. The company has a 50-day simple moving average of $27.98 and a two-hundred day simple moving average of $17.06. The company has a quick ratio of 1.39, a current ratio of 1.39 and a debt-to-equity ratio of 8.61. Laredo Petroleum has a 12-month low of $6.60 and a 12-month high of $39.42. The firm has a market cap of $426.26 million, a price-to-earnings ratio of -0.54 and a beta of 4.72.
In other Laredo Petroleum news, major shareholder Pincus Private Equity Warburg sold 408,752 shares of the company’s stock in a transaction dated 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 in the company, valued at $230,592. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 3.20% of the company’s stock.
Several brokerages recently issued reports on LPI. Siebert Williams Shank reiterated a “hold” rating and issued a $26.00 target price on shares of Laredo Petroleum in a research report on Tuesday, February 2nd. Piper Sandler cut their target price on shares of Laredo Petroleum from $20.00 to $14.00 and set a “neutral” rating for the company in a research report on Wednesday, November 11th. Finally, Zacks Investment Research upgraded shares of Laredo Petroleum from a “sell” rating to a “hold” rating in a research report on Wednesday, December 9th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $22.33.
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.
Featured Story: Day Trading
Receive News & Ratings for Laredo Petroleum Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Laredo Petroleum and related companies with MarketBeat.com's FREE daily email newsletter.