Laredo Petroleum (NYSE:LPI) announced its earnings results on Sunday. The oil and gas producer reported $3.23 EPS for the quarter, beating analysts’ consensus estimates 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%.
Shares of NYSE LPI traded up $0.93 during trading on Tuesday, reaching $37.22. The company had a trading volume of 19,484 shares, compared to its average volume of 467,705. Laredo Petroleum has a 12-month low of $6.60 and a 12-month high of $39.42. The stock has a market cap of $446.79 million, a PE ratio of -0.49 and a beta of 4.72. The business’s 50-day moving average is $27.98 and its 200 day moving average is $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.
In other news, major shareholder Pincus Private Equity Warburg sold 408,752 shares of the stock in a transaction on Monday, November 30th. The stock was 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 of the company’s stock, valued at $230,592. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 3.20% of the company’s stock.
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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