A Bull Market Continues To Unfold On Laredo Petroleum Inc. (NYSE: LPI), As It Continued To Rise 31.60% In Year-To-Date – Marketing Sentinel
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A Bull Market Continues To Unfold On Laredo Petroleum Inc. (NYSE: LPI), As It Continued To Rise 31.60% In Year-To-Date

During the last session, Laredo Petroleum Inc. (NYSE:LPI)’s traded shares were 1.04 million, with the beta value of the company hitting 3.27. At the end of the trading day, the stock’s price was $79.13, reflecting an intraday loss of -9.57% or -$8.37. The 52-week high for the LPI share is $120.86, that puts it down -52.74 from that peak though still a striking 54.19% gain since the share price plummeted to a 52-week low of $36.25. The company’s market capitalization is $1.50B, and the average intraday trading volume over the past 10 days was 0.99 million shares, and the average trade volume was 852.72K shares over the past three months.

Laredo Petroleum Inc. (LPI) received a consensus recommendation of an Overweight from analysts. That translates to a mean rating of 2.20. LPI has a Sell rating from 1 analyst(s) out of 9 analysts who have looked at this stock. 2 analyst(s) recommend to Hold the stock while 2 suggest Overweight, and 4 recommend a Buy rating for it. 0 analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be $7.84.

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Laredo Petroleum Inc. (NYSE:LPI) trade information

Laredo Petroleum Inc. (LPI) registered a -9.57% downside in the last session and has traded in the red over the past 5 sessions. The stock plummet -9.57% in intraday trading to $79.13 this Wednesday, 06/22/22, hitting a weekly high. The stock’s 5-day price performance is -24.58%, and it has moved by 26.10% in 30 days. Based on these gigs, the overall price performance for the year is 2.14%. The short interest in Laredo Petroleum Inc. (NYSE:LPI) is 1.26 million shares and it means that shorts have 1.76 day(s) to cover.

The consensus price target of analysts on Wall Street is $126.89, which implies an increase of 37.64% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $80.00 and $197.00 respectively. As a result, LPI is trading at a discount of -148.96% off the target high and -1.1% off the low.

Laredo Petroleum Inc. (LPI) estimates and forecasts

Statistics show that Laredo Petroleum Inc. has outperformed its competitors in share price, compared to the industry in which it operates. Laredo Petroleum Inc. (LPI) shares have gone up 40.60% during the last six months, with a year-to-date growth rate more than the industry average at 231.54% against 26.50. Yet analysts are ramping up their growth forecast for the fiscal year 2022. Revenue is predicted to grow 358.50% this quarter and then jump 338.60% in the quarter after that. In the rating firms’ projections, revenue will increase 16.70% compared to the previous financial year.

Revenue for the current quarter is expected to be $420.13 million as predicted by 6 analyst(s). Meanwhile, a consensus of 6 analyst(s) estimates revenue growth to $410.39 million by the end of Sep 2022. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled $224.41 million and $289.08 million respectively. In this case, analysts expect current quarter sales to grow by 87.20% and then jump by 42.00% in the coming quarter.

An analysis of the company’s performance over the past 5 years shows that the company’s earnings grew an estimated 19.50%. While earnings are projected to return 113.40% in 2022, the next five years will return 10.49% per annum.

LPI Dividends

Laredo Petroleum Inc. is due to release its next quarterly earnings between February 21 and February 25. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance.

Laredo Petroleum Inc. (NYSE:LPI)’s Major holders

Laredo Petroleum Inc. insiders own 6.74% of total outstanding shares while institutional holders control 65.07%, with the float percentage being 69.77%. Blackrock Inc. is the largest shareholder of the company, while 257 institutions own stock in it. As of Mar 30, 2022, the company held over 2.21 million shares (or 12.77% of all shares), a total value of $174.85 million in shares.

The next largest institutional holding, with 1.58 million shares, is of State Street Corporation’s that is approximately 9.12% of outstanding shares. At the market price on Dec 30, 2021, these shares were valued at $94.85 million.

Also, the Mutual Funds coming in first place with the largest holdings of Laredo Petroleum Inc. (LPI) shares are SPDR (R) Ser Tr-SPDR (R) S&P (R) Oil & Gas Explor & Prod ETF and iShares Core S&P Smallcap ETF. Data provided on Jan 30, 2022 indicates that SPDR (R) Ser Tr-SPDR (R) S&P (R) Oil & Gas Explor & Prod ETF owns about 1.28 million shares. This amounts to just over 7.42 percent of the company’s overall shares, with a $86.18 million market value. The same data shows that the other fund manager holds slightly less at 1.01 million, or about 5.82% of the stock, which is worth about $67.64 million.

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