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Laredo Petroleum (LPI) Update - June 3

Posted: Thu Jun 03, 2021 10:35 am
by dan_s
At today's oil price my valuation of LPI is $70

Larado is a "special situation" stock because of the transactions they announced on May 9. If their actual results for Q2 and Q3 match up with my valuation model, my valuation will jump to $100.

Re: Laredo Petroleum (LPI) Update - June 3

Posted: Wed Jun 23, 2021 11:35 am
by ironman
Looks to me like LPI is in the midst of a short squeeze.

The stock is up again another 10%+. 4 days ago it closed at $62.06. Right now it is at $85.90 and has blown through all the price targets that I see on it. Shares short as a % of float is just under 10%. I am selling LPI now, who knows when the squeeze ends.

Re: Laredo Petroleum (LPI) Update - June 3

Posted: Wed Jun 23, 2021 12:28 pm
by dan_s
LPI is now getting "pricy" so if you have a large stake in this stock I recommend harvesting at least half of your gains.

ESTE may be a good choice. Yesterday, RBC Capital rated ESTE as Outperform with a price target of $13.00. My valuation is $16.00.

Re: Laredo Petroleum (LPI) Update - June 3

Posted: Wed Jun 23, 2021 12:56 pm
by ironman
Good advice and I am selling it all.

I also note LPI is to be added to the Russell 2000, 1.77 million shares to be bought on an average daily trading volume of 555k/days. There was a huge block at the close on 6/18 at $65 which really catapulted the stock starting this run.

I own ESTE and that is a good idea to add more. Excellent management and they will get more accretive deals, build scale and get a better multiple.

Re: Laredo Petroleum (LPI) Update - June 3

Posted: Wed Jun 23, 2021 1:44 pm
by dan_s
Read my new profile on Hemisphere Energy that will be in your email tomorrow morning. It has almost zero downside risk and could be a triple for us in less than a year. My updated valuation model is now on the EPG website.