Mark E. Ferchau Sells 2,939 Shares of Goodrich Petroleum Corp (NYSE:GDP) Stock

Goodrich Petroleum Corp (NYSE:GDP) insider Mark E. Ferchau sold 2,939 shares of the business’s stock in a transaction that occurred on Monday, October 16th. The stock was sold at an average price of $9.29, for a total value of $27,303.31. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Goodrich Petroleum Corp (GDP) traded down 1.17% during mid-day trading on Thursday, hitting $10.15. 4,537 shares of the stock traded hands. The stock’s 50 day moving average is $9.65 and its 200-day moving average is $11.72. Goodrich Petroleum Corp has a 12 month low of $8.20 and a 12 month high of $16.85. The company has a market cap of $106.96 million and a price-to-earnings ratio of 5.76.

Goodrich Petroleum Corp (NYSE:GDP) last posted its quarterly earnings results on Friday, August 4th. The oil and natural gas company reported ($0.13) earnings per share for the quarter, topping the Zacks’ 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 quarterly revenue was down 42.9% compared to the same quarter last year. On average, equities research analysts anticipate that Goodrich Petroleum Corp will post ($0.69) EPS for the current year.

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Several hedge funds have recently modified their holdings of the company. Vanguard Group Inc. purchased a new position in shares of Goodrich Petroleum Corp in the 2nd quarter valued at $2,941,000. FMR LLC purchased a new position in shares of Goodrich Petroleum Corp in the 2nd quarter valued at $2,739,000. Raffles Associates LP purchased a new position in shares of Goodrich Petroleum Corp in the 2nd quarter valued at $2,316,000. Penn Capital Management Co. Inc. purchased a new position in shares of Goodrich Petroleum Corp in the 2nd quarter valued at $1,701,000. Finally, Ameriprise Financial Inc. purchased a new position in shares of Goodrich Petroleum Corp in the 2nd quarter valued at $1,387,000.

GDP has been the topic of several recent research reports. Zacks Investment Research upgraded Goodrich Petroleum Corp from a “hold” rating to a “buy” rating and set a $11.00 target price on the stock in a report on Tuesday, October 3rd. EuroPacific Canada assumed coverage on Goodrich Petroleum Corp in a report on Tuesday, October 3rd. They set a “buy” rating and a $16.00 target price on the stock. Eurobank EFG assumed coverage on shares of Goodrich Petroleum Corp in a research report on Tuesday, October 3rd. They set a “buy” rating and a $16.00 price target on the stock. Seaport Global Securities reaffirmed a “buy” rating and set a $17.00 price target on shares of Goodrich Petroleum Corp in a research report on Wednesday, October 18th. Finally, Northland Securities assumed coverage on shares of Goodrich Petroleum Corp in a research report on Wednesday, June 28th. They set an “outperform” rating and a $21.00 price target on the stock. One investment analyst has rated the stock with a sell rating and seven have given a buy rating to the company. Goodrich Petroleum Corp presently has a consensus rating of “Buy” and a consensus price target of $16.83.

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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