Goodrich Petroleum (NYSEAMERICAN:GDP) Posts Earnings Results, Beats Expectations By $0.09 EPS

Goodrich Petroleum (NYSEAMERICAN:GDP) released its quarterly earnings results on Tuesday. The company reported $0.34 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.25 by $0.09, Morningstar.com reports. The firm had revenue of $31.88 million for the quarter, compared to analyst estimates of $34.46 million.

GDP stock traded up $0.29 during trading hours on Wednesday, hitting $11.09. The company’s stock had a trading volume of 151 shares, compared to its average volume of 20,852. Goodrich Petroleum has a 12 month low of $10.01 and a 12 month high of $15.50.

A number of hedge funds have recently bought and sold shares of GDP. BlackRock Inc. grew its position in Goodrich Petroleum by 1.0% in the fourth quarter. BlackRock Inc. now owns 433,741 shares of the company’s stock worth $5,856,000 after acquiring an additional 4,173 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Goodrich Petroleum by 3.6% in the fourth quarter. Bank of New York Mellon Corp now owns 25,617 shares of the company’s stock worth $346,000 after buying an additional 902 shares during the last quarter. Citigroup Inc. lifted its stake in shares of Goodrich Petroleum by 98.0% in the fourth quarter. Citigroup Inc. now owns 5,670 shares of the company’s stock worth $77,000 after buying an additional 2,807 shares during the last quarter. Northern Trust Corp lifted its stake in shares of Goodrich Petroleum by 2.9% in the fourth quarter. Northern Trust Corp now owns 87,784 shares of the company’s stock worth $1,185,000 after buying an additional 2,467 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in shares of Goodrich Petroleum by 15.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 122,104 shares of the company’s stock worth $1,648,000 after buying an additional 16,625 shares during the last quarter.

A number of equities research analysts have recently issued reports on GDP shares. TheStreet lowered shares of Goodrich Petroleum from a “b” rating to a “c” rating in a report on Monday, June 17th. B. Riley started coverage on shares of Goodrich Petroleum in a report on Monday, May 20th. They set a “buy” rating and a $15.50 price target on the stock. Alembic Global Advisors restated a “buy” rating on shares of Goodrich Petroleum in a report on Monday, June 17th. Finally, Northland Securities restated a “buy” rating and set a $16.00 price target on shares of Goodrich Petroleum in a report on Wednesday. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company. Goodrich Petroleum currently has an average rating of “Buy” and a consensus target price of $15.75.

Goodrich Petroleum Company Profile

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 for Goodrich Petroleum (NYSEAMERICAN:GDP)

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