SunTrust Banks Comments on Goodrich Petroleum Corp’s Q2 2019 Earnings (NYSEAMERICAN:GDP)

Goodrich Petroleum Corp (NYSEAMERICAN:GDP) – Analysts at SunTrust Banks dropped their Q2 2019 earnings estimates for Goodrich Petroleum in a report released on Wednesday, March 20th, Zacks Investment Research reports. SunTrust Banks analyst W. Fitzpatrick now anticipates that the company will post earnings of $0.21 per share for the quarter, down from their previous forecast of $0.24. SunTrust Banks also issued estimates for Goodrich Petroleum’s Q1 2020 earnings at $0.51 EPS.

GDP has been the subject of a number of other research reports. Capital One Financial downgraded Goodrich Petroleum from an “overweight” rating to an “equal weight” rating in a research report on Thursday, December 20th. Northland Securities reiterated a “buy” rating and issued a $22.00 price objective on shares of Goodrich Petroleum in a research report on Wednesday, March 6th. Finally, Zacks Investment Research upgraded Goodrich Petroleum from a “sell” rating to a “hold” rating in a research report on Wednesday, February 20th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Goodrich Petroleum has an average rating of “Buy” and an average target price of $20.00.

Shares of Goodrich Petroleum stock traded up $0.16 during trading hours on Friday, reaching $14.80. 7,300 shares of the company’s stock were exchanged, compared to its average volume of 20,208. Goodrich Petroleum has a 1 year low of $11.52 and a 1 year high of $15.75.

Hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. increased its stake in shares of Goodrich Petroleum by 1.0% in the 4th quarter. BlackRock Inc. now owns 433,741 shares of the company’s stock valued at $5,856,000 after buying an additional 4,173 shares during the period. Vanguard Group Inc. increased its stake in shares of Goodrich Petroleum by 17.8% in the 3rd quarter. Vanguard Group Inc. now owns 330,997 shares of the company’s stock valued at $4,647,000 after buying an additional 50,118 shares during the period. Vanguard Group Inc increased its stake in shares of Goodrich Petroleum by 17.8% in the 3rd quarter. Vanguard Group Inc now owns 330,997 shares of the company’s stock valued at $4,647,000 after buying an additional 50,118 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Goodrich Petroleum by 15.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 122,104 shares of the company’s stock valued at $1,648,000 after buying an additional 16,625 shares during the period. Finally, Northern Trust Corp increased its stake in shares of Goodrich Petroleum by 2.9% in the 4th quarter. Northern Trust Corp now owns 87,784 shares of the company’s stock valued at $1,185,000 after buying an additional 2,467 shares during the period.

About Goodrich Petroleum

Goodrich Petroleum Corporation, an independent oil and natural gas company, engages in the exploration, development, and production of oil and natural gas. It primarily holds interests in the Haynesville Shale Trend in northwest Louisiana and East Texas; Tuscaloosa Marine Shale Trend located in southwest Mississippi and southeast Louisiana; and the Eagle Ford Shale Trend situated in South Texas.

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Earnings History and Estimates for Goodrich Petroleum (NYSEAMERICAN:GDP)

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