Goodrich Petroleum Corp (NYSEAMERICAN:GDP) was the target of a significant increase in short interest in the month of September. As of September 14th, there was short interest totalling 251,731 shares, an increase of 23.1% from the August 31st total of 204,513 shares. Approximately 3.1% of the company’s shares are short sold. Based on an average trading volume of 25,942 shares, the days-to-cover ratio is currently 9.7 days.

A number of hedge funds have recently bought and sold shares of the stock. Northern Trust Corp purchased a new position in Goodrich Petroleum in the 2nd quarter worth about $999,000. Bank of New York Mellon Corp purchased a new position in Goodrich Petroleum in the 2nd quarter worth about $232,000. Raymond James & Associates purchased a new position in Goodrich Petroleum in the 2nd quarter worth about $217,000. Renaissance Technologies LLC increased its stake in Goodrich Petroleum by 61.4% in the 2nd quarter. Renaissance Technologies LLC now owns 126,500 shares of the company’s stock worth $1,565,000 after buying an additional 48,100 shares during the period. Finally, MYDA Advisors LLC purchased a new position in Goodrich Petroleum in the 2nd quarter worth about $247,000.

GDP stock opened at $13.97 on Wednesday. Goodrich Petroleum has a 12 month low of $8.96 and a 12 month high of $15.75.

Goodrich Petroleum (NYSEAMERICAN:GDP) last posted its quarterly earnings results on Tuesday, August 7th. The company reported ($0.04) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.02 by ($0.06). The company had revenue of $17.84 million for the quarter, compared to the consensus estimate of $16.70 million.

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.

See Also: Hedge Funds

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