Shares of Goodrich Petroleum Corp (OTCMKTS:GDPMQ) have been given an average recommendation of “Buy” by the eight brokerages that are currently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating and seven have assigned a buy rating to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $17.33.
A number of brokerages have commented on GDPMQ. Seaport Global Securities reiterated a “buy” rating on shares of Goodrich Petroleum in a report on Wednesday, October 18th. Zacks Investment Research lowered shares of Goodrich Petroleum from a “hold” rating to a “sell” rating in a research note on Thursday, October 19th. EuroPacific Canada began coverage on shares of Goodrich Petroleum in a research note on Tuesday, October 3rd. They issued a “buy” rating and a $16.00 target price on the stock. Finally, Eurobank EFG began coverage on shares of Goodrich Petroleum in a research note on Tuesday, October 3rd. They issued a “buy” rating and a $16.00 target price on the stock.
Shares of Goodrich Petroleum (OTCMKTS:GDPMQ) remained flat at $$0.01 during trading 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 EPS for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.09. The firm had revenue of $13.22 million during the quarter, compared to analyst estimates of $13.61 million. During the same quarter in the prior year, the firm earned ($0.64) EPS. The business’s quarterly revenue was down 62.3% compared to the same quarter last year.
In related news, major shareholder Franklin Resources Inc sold 5,700 shares of the stock in a transaction that occurred on Friday, November 10th. The shares were sold at an average price of $11.06, for a total transaction of $63,042.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Mark E. Ferchau sold 2,939 shares of the 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 disclosure for this sale can be found here. In the last 90 days, insiders sold 87,704 shares of company stock valued at $919,097.
Hedge funds have recently added to or reduced their stakes in the stock. Oakview Capital Management L.P. purchased a new stake in shares of Goodrich Petroleum in the 3rd quarter valued at approximately $350,000. Macquarie Group Ltd. acquired a new position in Goodrich Petroleum in the 3rd quarter valued at approximately $245,000. Parkwood LLC increased its stake in Goodrich Petroleum by 123.0% in the 3rd quarter. Parkwood LLC now owns 190,589 shares of the oil and natural gas company’s stock valued at $1,851,000 after buying an additional 105,118 shares during the period. Raffles Associates LP acquired a new position in Goodrich Petroleum in the 2nd quarter valued at approximately $2,316,000. Finally, Schneider Capital Management Corp acquired a new position in Goodrich Petroleum in the 2nd quarter valued at approximately $274,000.
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Goodrich Petroleum Company Profile
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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