Goodrich Petroleum Corp (GDPMQ) Receives Average Rating of “Buy” from Brokerages
Shares of Goodrich Petroleum Corp (OTCMKTS:GDPMQ) have been given an average rating of “Buy” by the eight brokerages that are presently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation and seven have assigned a buy recommendation to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $17.33.
GDPMQ has been the subject of several research reports. EuroPacific Canada initiated coverage on shares of Goodrich Petroleum in a research report on Tuesday, October 3rd. They issued a “buy” rating and a $16.00 price target for the company. Zacks Investment Research downgraded shares of Goodrich Petroleum from a “buy” rating to a “hold” rating in a research report on Tuesday, October 10th. Eurobank EFG initiated coverage on shares of Goodrich Petroleum in a research report on Tuesday, October 3rd. They issued a “buy” rating and a $16.00 price target for the company. Finally, Seaport Global Securities reiterated a “buy” rating on shares of Goodrich Petroleum in a research report on Wednesday, October 18th.
Shares of Goodrich Petroleum (OTCMKTS GDPMQ) opened at $0.01 on Friday. Goodrich Petroleum has a 1 year low of $0.01 and a 1 year high of $0.77.
Goodrich Petroleum (OTCMKTS:GDPMQ) last issued its quarterly earnings data on Wednesday, November 8th. The oil and natural gas company reported $0.05 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.04) by $0.09. The company had revenue of $13.22 million for the quarter, compared to analyst estimates of $13.61 million. The company’s revenue was down 62.3% on a year-over-year basis. During the same quarter last year, the business earned ($0.64) earnings per share.
In other Goodrich Petroleum news, insider Mark E. Ferchau sold 2,939 shares of the business’s stock in a transaction that occurred on Monday, October 16th. The shares were sold at an average price of $9.29, for a total transaction of $27,303.31. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Franklin Resources Inc sold 30,211 shares of the business’s stock in a transaction that occurred on Wednesday, November 8th. The shares were sold at an average price of $11.00, for a total transaction of $332,321.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 87,704 shares of company stock valued at $919,097.
Several hedge funds and other institutional investors have recently bought and sold shares of the business. Oakview Capital Management L.P. bought a new stake in shares of Goodrich Petroleum during the third quarter worth $350,000. Macquarie Group Ltd. bought a new stake in shares of Goodrich Petroleum during the third quarter worth $245,000. Parkwood LLC grew its stake in shares of Goodrich Petroleum by 123.0% during the third quarter. Parkwood LLC now owns 190,589 shares of the oil and natural gas company’s stock worth $1,851,000 after buying an additional 105,118 shares during the last quarter. Raffles Associates LP bought a new stake in shares of Goodrich Petroleum during the second quarter worth $2,316,000. Finally, Schneider Capital Management Corp bought a new stake in shares of Goodrich Petroleum during the second quarter worth $274,000.
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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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