Revenue Update on Laredo Petroleum Inc(NYSE:LPI)

Laredo Petroleum Inc(NYSE:LPI) announced the earnings results for Fiscal Year 2016 and Q2. The results came in during After-hours on Aug 3, 2016. Company reported revenue of $146.77M. Analysts estimated a revenue of $138.30M. Earnings per share were $0.13. Analysts had estimated an EPS of $0.10.

In a different note, On Jun 14, 2016, iBERIA Capital Partners said it Upgrades its rating on Laredo Petroleum Inc. In the research note, the firm Raises the price-target to $8.00 per share. The shares have been rated ‘Outperform’ by the firm. Imperial Capital said it Initiates Coverage on Laredo Petroleum Inc, according to a research note issued on May 26, 2016. The shares have been rated ‘In-line’ by the firm. On May 13, 2016, JP Morgan said it Upgrades its rating on Laredo Petroleum Inc. In the research note, the firm Raises the price-target to $9.00 per share. The shares have been rated ‘Neutral’ by the firm.

Laredo Petroleum Inc (LPI) shares turned negative on Fridays trading session with the shares closing down -0.04 points or -0.36% at a volume of 28,27,243. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $11.57. The peak price level was also seen at $11.57 while the days lowest was $10.9. Finally the shares closed at $11.2. The 52-week high of the shares is $14.19 while the 52-week low is $3.9. According to the latest information available, the market cap of the company is $2,689 M.

Several Insider Transactions has been reported to the SEC. On Apr 4, 2016, Randy A Foutch (CEO) purchased 22,072 shares at $4.52 per share price.Also, 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.

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