Laredo Petroleum (NYSE:LPI) stated gains of 452,736 shares or 2.2% in the short interest. The short interest registered from 20,376,419 on May 31,2016 to 20,829,155 on June 15,2016. In terms of floated shares, the shorted positions stood at 15.7%. The stock has been averaging 3,446,680 shares daily in trading and would need 6 days to cover the shorts. The information was released by Financial Industry Regulatory Authority, Inc (FINRA) on June 24th after market close.
Laredo Petroleum (NYSE:LPI): The stock opened at $10.65 on Friday but the bulls could not build on the opening and the stock topped out at $11.12 for the day. The stock traded down to $10.62 during the day, due to lack of any buying support eventually closed down at $10.81 with a loss of -5.67% for the day. The stock had closed at $11.46 on the previous day. The total traded volume was 5,083,147 shares.
The company shares have dropped -14.48% from its 1 Year high price. On Oct 9, 2015, the shares registered one year high at $14.19 and the one year low was seen on Feb 19, 2016. The 50-Day Moving Average price is $11.61 and the 200 Day Moving Average price is recorded at $8.85.
Laredo Petroleum (NYSE:LPI) has tumbled 4.17% during the past week and has dropped 6.81% in the last 4 week period. The stocks are negative as compared to the S&P 500 for the past week with a loss of 2.58%. Laredo Petroleum (NYSE:LPI) has underperformed the index by 3.99% in the last 4 weeks. Investors should watch out for further signals and trade with caution.
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.