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Laredo Petroleum (LPI) Soars: Stock Adds 9.4% in Session

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Laredo Petroleum, Inc. (LPI - Free Report) was a big mover last session, as the company saw its shares rise more than 9% on the day. The move came on solid volume too with far more shares changing hands than in a normal session. This stock, which remained volatile and traded within the range of $7.58–$8.49 in the past one-month time frame, witnessed a sharp increase yesterday.

The stock gained after news that the company will join the S&P SmallCap 600, effective Sep 17.

The company has seen a mixed track record when it comes to estimate revisions of one increase and one decrease over the past few weeks, while the Zacks Consensus Estimate for the current quarter remained unchanged. The recent price action is encouraging though, so make sure to keep a close watch on this firm in the near future.

Laredo Petroleum currently has a Zacks Rank #3 (Hold) while its Earnings ESP is positive.  

Investors interested in the Oil and Gas - Exploration and Production - United States industry may consider Magnolia Oil & Gas Corporation (MGY - Free Report) , which has a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

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