Benzinga | Feb 22, 2021 05:04PM EST

Laredo Petroleum: Q4 Earnings Insights

Shares of Laredo Petroleum (NYSE:LPI) moved higher in after-market trading after the company reported Q4 results.

Quarterly Results

Earnings per share increased 1794.12% year over year to $3.22, which beat the estimate of $3.19.

Revenue of $188,065,000 declined by 13.78% from the same period last year, which beat the estimate of $187,760,000.

Guidance

Laredo Petroleum hasn't issued any earnings guidance for the time being.

Revenue guidance hasn't been issued by the company for now.

Technicals

Company's 52-week high was at $39.42

Company's 52-week low was at $0.33

Price action over last quarter: Up 301.67%

Company Overview

Laredo Petroleum is an independent oil and gas producer in the United States. It operates exclusively in the Permian (Midland) Basin. At the end of 2019, the company reported net proves reserves of 294 million barrels of oil equivalent. Net production averaged about 81 thousand barrels per day in 2019 at a ratio of 66% oil and natural gas liquids and 34% natural gas.