Laredo Petroleum, Inc. (NYSE:LPI) released its quarterly earnings data on Monday, August 7th. The oil and gas producer reported $0.10 EPS for the quarter, missing analysts’ consensus estimates of $0.11 by $0.01, Briefing.com reports. The business had revenue of $187 million during the quarter, compared to analyst estimates of $173.32 million. Laredo Petroleum had a return on equity of 49.15% and a net margin of 16.73%. The business’s revenue for the quarter was up 27.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.13 EPS.
Laredo Petroleum (LPI) traded up 0.93% during trading on Friday, reaching $11.91. The company’s stock had a trading volume of 2,553,253 shares. The stock’s 50 day moving average is $11.83 and its 200-day moving average is $12.66. The firm has a market cap of $2.85 billion, a P/E ratio of 24.06 and a beta of 1.41. Laredo Petroleum has a 52 week low of $9.57 and a 52 week high of $16.47.
Several hedge funds have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP boosted its stake in Laredo Petroleum by 22.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 934,914 shares of the oil and gas producer’s stock worth $13,220,000 after buying an additional 171,994 shares during the last quarter. Highbridge Capital Management LLC acquired a new stake in Laredo Petroleum during the fourth quarter worth about $392,000. Bank of Montreal Can boosted its stake in Laredo Petroleum by 7.9% in the first quarter. Bank of Montreal Can now owns 868,332 shares of the oil and gas producer’s stock worth $12,678,000 after buying an additional 63,770 shares during the last quarter. James Investment Research Inc. acquired a new stake in Laredo Petroleum during the first quarter worth about $149,000. Finally, Hamilton Lane Advisors LLC acquired a new stake in Laredo Petroleum during the first quarter worth about $3,903,000.
About Laredo Petroleum
Laredo Petroleum, Inc (Laredo) is an independent energy company. The Company is focused on the acquisition, exploration and development of oil and natural gas properties, and the transportation of oil and natural gas from such properties primarily in the Permian Basin in West Texas. It operates through two segments: Exploration and production of oil and natural gas properties, and Midstream and marketing.
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