Shares of Laredo Petroleum (LPI) Drops by -0.94%

Laredo Petroleum (LPI) : During the past 4 weeks, traders have been relatively bearish on Laredo Petroleum (LPI), hence the stock is down -10.3% when compared to the S&P 500 during the same period. However, in the past 1 week, the selling of the stock is down by -2.4% relative to the S&P 500. The 4-week change in the price of the stock is -6.38% and the stock has fallen -0.94% in the past 1 week. The stock has recorded a 20-day Moving Average of 2.84% and the 50-Day Moving Average is 7.25%.

Laredo Petroleum (NYSE:LPI): The stock opened at $10.80 on Friday but the bulls could not build on the opening and the stock topped out at $10.93 for the day. The stock traded down to $10.38 during the day, due to lack of any buying support eventually closed down at $10.56 with a loss of -1.31% for the day. The stock had closed at $10.70 on the previous day. The total traded volume was 4,763,917 shares.


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%. In a related news, The Securities and Exchange Commission has divulged in a Form 4 filing that the CEO of Laredo Petroleum, Inc., Foutch Randy A had purchased shares worth of $99,765 in a transaction dated on February 19, 2016. A total of 22,072 shares were purchased at a price of $4.52 per share. The information is based on open market trades at the market prices.Option exercises are not covered.

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.

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