BlackRock Inc. Increases Holdings in Goodrich Petroleum Corp (GDP)

BlackRock Inc. raised its position in shares of Goodrich Petroleum Corp (NYSEAMERICAN:GDP) by 1.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 433,741 shares of the company’s stock after purchasing an additional 4,173 shares during the period. BlackRock Inc.’s holdings in Goodrich Petroleum were worth $5,856,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in GDP. Bank of New York Mellon Corp grew its holdings in Goodrich Petroleum by 31.8% during the third quarter. Bank of New York Mellon Corp now owns 24,715 shares of the company’s stock valued at $347,000 after purchasing an additional 5,959 shares during the period. Dimensional Fund Advisors LP grew its holdings in Goodrich Petroleum by 66.1% during the third quarter. Dimensional Fund Advisors LP now owns 105,479 shares of the company’s stock valued at $1,481,000 after purchasing an additional 41,984 shares during the period. Vanguard Group Inc. grew its holdings in Goodrich Petroleum by 17.8% during the third quarter. Vanguard Group Inc. now owns 330,997 shares of the company’s stock valued at $4,647,000 after purchasing an additional 50,118 shares during the period. Vanguard Group Inc grew its holdings in Goodrich Petroleum by 17.8% during the third quarter. Vanguard Group Inc now owns 330,997 shares of the company’s stock valued at $4,647,000 after purchasing an additional 50,118 shares during the period. Finally, Rhumbline Advisers bought a new position in Goodrich Petroleum during the fourth quarter valued at $152,000.

Goodrich Petroleum stock opened at $14.08 on Friday. Goodrich Petroleum Corp has a one year low of $11.60 and a one year high of $15.75.

Goodrich Petroleum (NYSEAMERICAN:GDP) last posted its quarterly earnings results on Tuesday, March 5th. The company reported $0.58 EPS for the quarter, topping the Zacks’ consensus estimate of $0.45 by $0.13. The company had revenue of $33.91 million during the quarter, compared to the consensus estimate of $32.86 million.

GDP has been the subject of several research reports. Northland Securities reissued a “buy” rating and set a $22.00 price objective on shares of Goodrich Petroleum in a report on Wednesday, March 6th. Zacks Investment Research lowered Goodrich Petroleum from a “hold” rating to a “strong sell” rating in a report on Tuesday, January 15th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $20.00.

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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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Institutional Ownership by Quarter for Goodrich Petroleum (NYSEAMERICAN:GDP)

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