Short Interest in Goodrich Petroleum Corp (NYSEAMERICAN:GDP) Increases By 27.8%

Goodrich Petroleum Corp (NYSEAMERICAN:GDP) was the target of a large growth in short interest in the month of June. As of June 30th, there was short interest totalling 171,200 shares, a growth of 27.8% from the May 30th total of 134,000 shares. Currently, 2.1% of the shares of the company are short sold. Based on an average daily trading volume, of 23,100 shares, the short-interest ratio is presently 7.4 days.

A number of institutional investors have recently modified their holdings of the business. Rhumbline Advisers acquired a new position in shares of Goodrich Petroleum in the 4th quarter valued at approximately $152,000. BlackRock Inc. raised its position 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 in the last quarter. Bank of New York Mellon Corp raised its position in shares of Goodrich Petroleum by 3.6% in the 4th quarter. Bank of New York Mellon Corp now owns 25,617 shares of the company’s stock valued at $346,000 after buying an additional 902 shares in the last quarter. Citigroup Inc. raised its position in shares of Goodrich Petroleum by 98.0% in the 4th quarter. Citigroup Inc. now owns 5,670 shares of the company’s stock valued at $77,000 after buying an additional 2,807 shares in the last quarter. Finally, Northern Trust Corp raised its position 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 in the last quarter.

Shares of Goodrich Petroleum stock opened at $11.39 on Friday. Goodrich Petroleum has a twelve month low of $10.67 and a twelve month high of $15.50.

Goodrich Petroleum (NYSEAMERICAN:GDP) last issued its quarterly earnings data on Wednesday, May 8th. The company reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.21 by ($0.18). The business had revenue of $29.14 million for the quarter, compared to analyst estimates of $29.10 million.

GDP has been the subject of several research analyst reports. Northland Securities reaffirmed a “buy” rating and set a $6.00 target price on shares of EMCORE in a report on Monday, June 10th. B. Riley reaffirmed a “buy” rating on shares of Goodrich Petroleum in a report on Monday, May 20th. Alembic Global Advisors reaffirmed a “buy” rating on shares of Goodrich Petroleum in a report on Monday, June 17th. Finally, TheStreet downgraded shares of Timkensteel from a “c-” rating to a “d+” rating in a report on Monday, June 17th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $18.75.

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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