Benzinga | Aug 4, 2021 05:02PM EDT

Laredo Petroleum: Q2 Earnings Insights

Shares of Laredo Petroleum (NYSE:LPI) fell in after-market trading after the company reported Q2 results.

Quarterly Results

Earnings per share were down 29.63% over the past year to $1.71, which missed the estimate of $2.94.

Revenue of $294,371,000 higher by 166.19% year over year, which beat the estimate of $223,880,000.

Guidance

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

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

Technicals

Company's 52-week high was at $99.26

52-week low: $7.71

Price action over last quarter: Up 29.34%

Company Description

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 2020, the company reported net proves reserves of 278 million barrels of oil equivalent. Net production averaged about 88 thousand barrels per day in 2020 at a ratio of 64% oil and natural gas liquids and 34% natural gas.