Laredo Petroleum Accelerates Debt Payoff [Seeking Alpha]
Laredo Petroleum, Inc. (LPI)
Last laredo petroleum, inc. earnings: 2/12 04:30 pm
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investor.laredopetro.com
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Source: Seeking Alpha
Joe Raedle/Getty Images NewsLaredo Petroleum, Inc.NYSE:LPIdoes not pay a dividend, is servicing high-cost debt, and its upside is partially limited by hedges. However, it has a new share repurchase program and has increased itsdebt repayment targetto $700 million by year-end 2023. In 2022, it expects to earn $900 million in free cash flow-triple the levelpredicted a few months ago.Trailing price-earnings ratio is 8.9 and forward price-earnings ratio for 2022 is a bargain 2.7.I recommend Laredo Petroleum as a speculative buy to those seeking capital appreciation based on expectations of oil and gas prices, and more particularly for the company's reorientation toward a higher oil percentage in its production.I recently bought shares in LPI.MacroThe Russian invasion of Ukraine and the sanctions against Russia-explicit and implicit-continues to roil global oil and gas markets. Prior to the invasion, Russia produced about 10% of the world's oil, and exported 5 million barrels per day (BPD)
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