Selected Reads

Smartkarma

Equity Bottom-Up

Executive Summary: LPI’s balance sheet is heavily levered, historically lacks FCF, its debt yields &gt;9%, and the Company pivoted its asset base starting in 2019. Marginal assets in a supply constrained environment...<a target="_blank" href="https://www.valueinvestorsclub.com/idea/LAREDO_PETROLEUM_INC/2315163318">Read the article on Value Investor Club »</a>

Morningstar

Morningstar, Inc.

After a closer look at Laredo Petroleum's first-quarter operating and financial results, we are raising our fair value estimate to $6 per share, which reflects a 100% premium to the last closing price
We believe this stock is one of the most compelling opportunities in the upstream oil and gas segment. Only a year ago, it was trading above $10, before Laredo announced a midstream dispute with Shell that left it vulnerable to Permian Basin basis differentials right before a major pipeline…

Laredo Petroleum is an upstream oil and gas company with operations concentrated in the eastern portion of western Texas' Midland Basin (Glasscock and Reagan counties). That's east of the play's Midland County sweet spot, in an area with a lower oil content (translating to lower realized prices). Initial production rates aren't typically as impressive there, either. So, because it does not operate in the core of the basin, Laredo does not share the cost advantage that other Permian producers…

After a first look at Laredo’s first-quarter operating and financial results we are raising our fair value to estimate to $5 per share, which reflects a 68% premium to the last close. That makes it one of the most compelling ideas in the upstream oil and gas segment. Only a year ago the stock was trading above $10, before the firm announced a midstream dispute with Shell that left it vulnerable to Permian Basin basis differentials right before a major pipeline capacity shortage took hold in the…

Laredo's stock rallied in early trading following the April 8 announcement that the company has reduced its personnel costs by 25%. But at the time of writing the price increase of approximately 10% looks like an underreaction. The cost cuts are expected to deliver annualized savings of around $30 million, which equates to a margin improvement of $1.10 per barrel of oil equivalent (based on our 2019 guidance calling for production of 74 boe/d). After incorporating the change, we have increased…

United States

Vital Energy, Inc. is an independent oil and gas company. The Company focused on oil and gas assets exploration, development, and production in the Permian Basin. Vital Energy serves customers in the United States.

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