Goodrich Petroleum Corp (GDP) Major Shareholder Sells $300,000.00 in Stock
Goodrich Petroleum Corp (NYSE:GDP) major shareholder Franklin Resources Inc sold 30,000 shares of the firm’s stock in a transaction on Wednesday, October 11th. The shares were sold at an average price of $10.00, for a total value of $300,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Major shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.
Franklin Resources Inc also recently made the following trade(s):
- On Monday, September 25th, Franklin Resources Inc sold 2,689 shares of Goodrich Petroleum Corp stock. The shares were sold at an average price of $9.66, for a total value of $25,975.74.
Shares of Goodrich Petroleum Corp (GDP) traded down 3.61% during mid-day trading on Friday, hitting $9.35. The company had a trading volume of 74,270 shares. The company has a market cap of $98.53 million and a PE ratio of 5.30. Goodrich Petroleum Corp has a 12 month low of $8.20 and a 12 month high of $17.25. The firm has a 50-day moving average of $10.37 and a 200-day moving average of $12.74.
Goodrich Petroleum Corp (NYSE:GDP) last released its quarterly earnings data on Friday, August 4th. The oil and natural gas company reported ($0.13) EPS for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.08. The firm had revenue of $12.50 million during the quarter, compared to analysts’ expectations of $10.70 million. The business’s revenue for the quarter was down 42.9% on a year-over-year basis. On average, analysts expect that Goodrich Petroleum Corp will post ($0.77) EPS for the current year.
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Several institutional investors have recently added to or reduced their stakes in GDP. Schneider Capital Management Corp acquired a new stake in shares of Goodrich Petroleum Corp in the second quarter valued at about $274,000. Parkwood LLC grew its stake in shares of Goodrich Petroleum Corp by 89.9% in the second quarter. Parkwood LLC now owns 85,471 shares of the oil and natural gas company’s stock valued at $1,039,000 after buying an additional 40,471 shares in the last quarter. Ameriprise Financial Inc. acquired a new stake in shares of Goodrich Petroleum Corp in the second quarter valued at about $1,387,000. Penn Capital Management Co. Inc. acquired a new stake in shares of Goodrich Petroleum Corp in the second quarter valued at about $1,701,000. Finally, Raffles Associates LP acquired a new stake in shares of Goodrich Petroleum Corp in the second quarter valued at about $2,316,000.
Several research analysts have recently commented on GDP shares. Capital One Financial Corporation started coverage on Goodrich Petroleum Corp in a report on Tuesday, July 11th. They set an “overweight” rating on the stock. Zacks Investment Research lowered Goodrich Petroleum Corp from a “hold” rating to a “sell” rating in a report on Tuesday, July 25th. Northland Securities started coverage on Goodrich Petroleum Corp in a report on Wednesday, June 28th. They set an “outperform” rating and a $21.00 price target on the stock. EuroPacific Canada started coverage on Goodrich Petroleum Corp in a report on Tuesday, October 3rd. They set a “buy” rating and a $16.00 price target on the stock. Finally, Eurobank EFG started coverage on Goodrich Petroleum Corp in a report on Tuesday, October 3rd. They set a “buy” rating and a $16.00 price target on the stock. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $16.80.
Goodrich Petroleum Corp 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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