Goodrich Petroleum Co. (NYSE:GDP) major shareholder Franklin Resources Inc sold 30,211 shares of the company’s stock in a transaction on Wednesday, November 8th. The shares were sold at an average price of $11.00, for a total value of $332,321.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Large shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

Franklin Resources Inc also recently made the following trade(s):

  • On Wednesday, October 11th, Franklin Resources Inc sold 30,000 shares of Goodrich Petroleum stock. The shares were sold at an average price of $10.00, for a total value of $300,000.00.
  • On Monday, September 25th, Franklin Resources Inc sold 2,689 shares of Goodrich Petroleum stock. The shares were sold at an average price of $9.66, for a total value of $25,975.74.

Goodrich Petroleum Co. (NYSE:GDP) opened at $10.98 on Tuesday. Goodrich Petroleum Co. has a one year low of $0.01 and a one year high of $0.77.

Goodrich Petroleum (NYSE:GDP) last issued its quarterly earnings results on Wednesday, November 8th. The oil and natural gas company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.04) by $0.09. The firm had revenue of $13.22 million for the quarter, compared to analyst estimates of $13.61 million. During the same period last year, the company earned ($0.64) EPS. The company’s revenue was down 62.3% compared to the same quarter last year.

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A number of analysts have weighed in on GDP shares. Zacks Investment Research cut Goodrich Petroleum from a “hold” rating to a “sell” rating in a research report on Tuesday, July 25th. Seaport Global Securities reissued a “buy” rating on shares of Goodrich Petroleum in a research note on Wednesday, October 18th. EuroPacific Canada began coverage on Goodrich Petroleum in a research note on Tuesday, October 3rd. They issued a “buy” rating and a $16.00 price objective on the stock. Finally, Eurobank EFG began coverage on Goodrich Petroleum in a research note on Tuesday, October 3rd. They issued a “buy” rating and a $16.00 price objective on the stock. One analyst has rated the stock with a sell rating and seven have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $16.83.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GDP. Vanguard Group Inc. bought a new stake in Goodrich Petroleum in the second quarter valued at about $2,941,000. FMR LLC bought a new stake in Goodrich Petroleum in the second quarter valued at about $2,739,000. Raffles Associates LP bought a new stake in Goodrich Petroleum in the second quarter valued at about $2,316,000. Penn Capital Management Co. Inc. bought a new stake in Goodrich Petroleum in the second quarter valued at about $1,701,000. Finally, Ameriprise Financial Inc. bought a new stake in Goodrich Petroleum in the second quarter valued at about $1,387,000.

About Goodrich Petroleum

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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