We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Here's Why Laredo (LPI) is an Attractive Investment Bet Now
Read MoreHide Full Article
Laredo Petroleum, Inc.’s stock price has jumped 49.4% year to date compared with the Zacks Oil and Gas - Exploration and Production - United States industry’s rise of 43.9%. Moreover, this publicly-traded exploration and production company has witnessed upward earnings estimate revisions for 2021 and 2022 in the past 30 days.
The West Texas Intermediate crude price, which is currently hovering around $60 per barrel, has significantly improved from its slump into negative territory in April 2020. As vaccination rollout led to an increase in fuel demand on a global scale, a strong economic recovery is expected within this year.
The rally in oil price has also been supported by OPEC+ (OPEC and its non-OPEC partners) since the cartel and its allies have extended production cut till April. Per the agreement reached on Mar 4, following a meeting through video-conferencing between OPEC led by Saudi Arabia and Russia-led non-OPEC producers, the majority of OPEC+ members decided to keep the output unchanged.
Rising oil prices are undoubtedly a boon for the company’s upstream operations. Hence, Laredo Petroleum, engaged in operating unconventional resources in the prolific oil and natural gas producing regions like Permian Basin, has the ability toexploit additional upside potential and utilize the improving commodity price scenario.
Further, the company has done a commendable job of enhancing its unit metrics. Last year, Laredo Petroleum managed to reduce drilling and completion costs by 21%, while increasing drilling efficiencies by 4%.
The company’s emission-reduction targets, such as reduction in GHG intensity by 20%, methane emissions to less than 0.20% of natural gas production, and the elimination of routine flaring by 2025 are also noteworthy.
Thus, Laredo, one of the leading producers in the Permian Basin, is poised for further upside in the coming days.
Other Stocks to Consider
Some other top-ranked players in the same space are Exxon Mobil Corporation (XOM - Free Report) , Magnolia Oil & Gas Corporation (MGY - Free Report) and Suncor Energy Inc. (SU - Free Report) , currently sporting a Zacks Rank #1.
Exxon’s earnings for 2021 are expected to rise 19.5% year over year.
Magnolia’s earnings for 2021 are expected to grow 23% year over year.
Suncor’s earnings for 2021 are expected to surge 230% year over year.
Time to Invest in Legal Marijuana
If you’re looking for big gains, there couldn’t be a better time to get in on a young industry primed to skyrocket from $17.7 billion back in 2019 to an expected $73.6 billion by 2027.
After a clean sweep of 6 election referendums in 5 states, pot is now legal in 36 states plus D.C. Federal legalization is expected soon and that could be a still greater bonanza for investors. Even before the latest wave of legalization, Zacks Investment Research has recommended pot stocks that have shot up as high as +285.9%.
You’re invited to check out Zacks’ Marijuana Moneymakers: An Investor’s Guide. It features a timely Watch List of pot stocks and ETFs with exceptional growth potential.
Image: Bigstock
Here's Why Laredo (LPI) is an Attractive Investment Bet Now
Laredo Petroleum, Inc.’s stock price has jumped 49.4% year to date compared with the Zacks Oil and Gas - Exploration and Production - United States industry’s rise of 43.9%. Moreover, this publicly-traded exploration and production company has witnessed upward earnings estimate revisions for 2021 and 2022 in the past 30 days.
The company currently carries a Zacks Rank #1 (Strong Buy).You can see the complete list of today’s Zacks #1 Rank stocks here.
Factors Favoring the Stock
The West Texas Intermediate crude price, which is currently hovering around $60 per barrel, has significantly improved from its slump into negative territory in April 2020. As vaccination rollout led to an increase in fuel demand on a global scale, a strong economic recovery is expected within this year.
The rally in oil price has also been supported by OPEC+ (OPEC and its non-OPEC partners) since the cartel and its allies have extended production cut till April. Per the agreement reached on Mar 4, following a meeting through video-conferencing between OPEC led by Saudi Arabia and Russia-led non-OPEC producers, the majority of OPEC+ members decided to keep the output unchanged.
Rising oil prices are undoubtedly a boon for the company’s upstream operations. Hence, Laredo Petroleum, engaged in operating unconventional resources in the prolific oil and natural gas producing regions like Permian Basin, has the ability toexploit additional upside potential and utilize the improving commodity price scenario.
Further, the company has done a commendable job of enhancing its unit metrics. Last year, Laredo Petroleum managed to reduce drilling and completion costs by 21%, while increasing drilling efficiencies by 4%.
The company’s emission-reduction targets, such as reduction in GHG intensity by 20%, methane emissions to less than 0.20% of natural gas production, and the elimination of routine flaring by 2025 are also noteworthy.
Thus, Laredo, one of the leading producers in the Permian Basin, is poised for further upside in the coming days.
Other Stocks to Consider
Some other top-ranked players in the same space are Exxon Mobil Corporation (XOM - Free Report) , Magnolia Oil & Gas Corporation (MGY - Free Report) and Suncor Energy Inc. (SU - Free Report) , currently sporting a Zacks Rank #1.
Exxon’s earnings for 2021 are expected to rise 19.5% year over year.
Magnolia’s earnings for 2021 are expected to grow 23% year over year.
Suncor’s earnings for 2021 are expected to surge 230% year over year.
Time to Invest in Legal Marijuana
If you’re looking for big gains, there couldn’t be a better time to get in on a young industry primed to skyrocket from $17.7 billion back in 2019 to an expected $73.6 billion by 2027.
After a clean sweep of 6 election referendums in 5 states, pot is now legal in 36 states plus D.C. Federal legalization is expected soon and that could be a still greater bonanza for investors. Even before the latest wave of legalization, Zacks Investment Research has recommended pot stocks that have shot up as high as +285.9%.
You’re invited to check out Zacks’ Marijuana Moneymakers: An Investor’s Guide. It features a timely Watch List of pot stocks and ETFs with exceptional growth potential.
Today, Download Marijuana Moneymakers FREE >>