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Laredo Petroleum (NYSE:LPI) stated its board approved a $200M share repurchase program, ~14% of the corporate’s present market cap, via Might 2024.
Laredo (LPI) up to date its debt reimbursement goal to ~$700M by year-end 2023 and stated it’s on monitor to realize its focused internet debt to consolidated EBITDAX ratio goal of 1x by Q1 2023.
The corporate additionally stated it expects to generate $900M in free money circulation via the tip of 2023, based mostly on present commodity costs.
Laredo Petroleum’s (LPI) quarterly outcomes this yr “ought to shock the market to the upside, [which] will profit the inventory value significantly,” Lengthy Participant writes in a bullish evaluation printed not too long ago on In search of Alpha.