Goodrich Petroleum Corp (NYSE:GDP) Posts Quarterly Earnings Results, Beats Expectations By $0.08 EPS
Goodrich Petroleum Corp (NYSE:GDP) posted its earnings results on Friday. The oil and natural gas company reported ($0.13) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.21) by $0.08, Morningstar.com reports. The firm had revenue of $12.50 million during the quarter, compared to analysts’ expectations of $10.70 million. Goodrich Petroleum Corp’s quarterly revenue was down 42.9% on a year-over-year basis.
Goodrich Petroleum Corp (NYSE:GDP) traded down 0.84% during trading on Friday, reaching $11.75. The company’s stock had a trading volume of 50,181 shares. Goodrich Petroleum Corp has a 52 week low of $10.05 and a 52 week high of $17.25. The firm has a 50 day moving average of $12.74 and a 200 day moving average of $13.58. The stock has a market capitalization of $107.03 million and a price-to-earnings ratio of 11.47.
Several analysts have recently weighed in on GDP shares. Capital One Financial Corporation started coverage on Goodrich Petroleum Corp in a report on Tuesday, July 11th. They issued an “overweight” rating for the company. SunTrust Banks, Inc. began coverage on Goodrich Petroleum Corp in a report on Tuesday, April 11th. They issued a “buy” rating and a $20.00 target price for the company. Zacks Investment Research cut Goodrich Petroleum Corp from a “hold” rating to a “sell” rating in a research report on Tuesday, July 25th. Finally, Northland Securities began coverage on Goodrich Petroleum Corp in a research report on Wednesday, June 28th. They issued an “outperform” rating and a $21.00 price target on the stock. One equities research analyst has rated the stock with a sell rating and four have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $20.50.
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In related news, VP Robert T. Barker sold 3,072 shares of the firm’s stock in a transaction that occurred on Tuesday, June 6th. The shares were sold at an average price of $12.20, for a total transaction of $37,478.40. The transaction was disclosed in a document filed with the SEC, which is available at this link.
A hedge fund recently bought a new stake in Goodrich Petroleum Corp stock. Parkwood LLC acquired a new position in shares of Goodrich Petroleum Corp (NYSE:GDP) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 45,000 shares of the oil and natural gas company’s stock, valued at approximately $633,000. Parkwood LLC owned about 0.49% of Goodrich Petroleum Corp at the end of the most recent quarter.
About Goodrich Petroleum Corp
Goodrich Petroleum Corporation is an independent oil and natural gas company. The Company is engaged in the exploration, development and production of oil and natural gas on properties primarily in Southwest Mississippi and Southeast Louisiana, which includes the Tuscaloosa Marine Shale Trend (TMS); Northwest Louisiana and East Texas, which includes the Haynesville Shale Trend, and South Texas, which includes the Eagle Ford Shale Trend.
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