Penn Capital Management Co. Inc. Takes Position in Goodrich Petroleum Corp (GDP)
Penn Capital Management Co. Inc. bought a new stake in shares of Goodrich Petroleum Corp (NYSE:GDP) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 139,440 shares of the oil and natural gas company’s stock, valued at approximately $1,701,000. Penn Capital Management Co. Inc. owned approximately 1.32% of Goodrich Petroleum Corp as of its most recent filing with the Securities and Exchange Commission.
Separately, Ameriprise Financial Inc. purchased a new position in shares of Goodrich Petroleum Corp during the 2nd quarter valued at $1,387,000.
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A number of research analysts recently weighed in on the stock. Capital One Financial Corporation assumed coverage on shares of Goodrich Petroleum Corp in a research note on Tuesday, July 11th. They set an “overweight” rating on the stock. Zacks Investment Research cut shares of Goodrich Petroleum Corp from a “hold” rating to a “sell” rating in a research note on Tuesday, July 25th. Finally, Northland Securities assumed coverage on shares of Goodrich Petroleum Corp in a research note on Wednesday, June 28th. They set an “outperform” rating and a $21.00 target price on the stock. One equities research analyst has rated the stock with a sell rating and four have given a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $20.50.
Shares of Goodrich Petroleum Corp (GDP) opened at 9.79 on Friday. Goodrich Petroleum Corp has a one year low of $8.20 and a one year high of $17.25. The firm has a 50-day moving average of $10.37 and a 200-day moving average of $12.74. The company has a market capitalization of $103.17 million and a P/E ratio of 5.55.
Goodrich Petroleum Corp (NYSE:GDP) last posted its quarterly earnings data on Friday, August 4th. The oil and natural gas company reported ($0.13) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.21) by $0.08. The company had revenue of $12.50 million for the quarter, compared to analysts’ expectations of $10.70 million. The firm’s revenue for the quarter was down 42.9% compared to the same quarter last year. Analysts forecast that Goodrich Petroleum Corp will post ($0.80) earnings per share for the current year.
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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