Goodrich Petroleum Corp (NYSEAMERICAN:GDP) was the target of a significant decrease in short interest in the month of January. As of January 31st, there was short interest totalling 126,085 shares, a decrease of 29.4% from the January 15th total of 178,657 shares. Based on an average trading volume of 25,389 shares, the short-interest ratio is presently 5.0 days. Currently, 1.6% of the shares of the stock are sold short.

A number of brokerages have weighed in on GDP. Zacks Investment Research downgraded shares of Goodrich Petroleum from a “hold” rating to a “sell” rating in a research report on Friday, February 1st. Capital One Financial downgraded shares of Goodrich Petroleum from an “overweight” rating to an “equal weight” rating in a research report on Thursday, December 20th. Finally, Ifs Securities began coverage on shares of Goodrich Petroleum in a research report on Monday, October 29th. They set an “outperform” rating for the company.

GDP opened at $13.03 on Thursday. Goodrich Petroleum has a twelve month low of $9.92 and a twelve month high of $15.75.

Several institutional investors and hedge funds have recently added to or reduced their stakes in GDP. Citigroup Inc. raised its position in shares of Goodrich Petroleum by 98.0% during the 4th quarter. Citigroup Inc. now owns 5,670 shares of the company’s stock worth $77,000 after purchasing an additional 2,807 shares during the last quarter. Rhumbline Advisers acquired a new position in shares of Goodrich Petroleum during the 4th quarter worth about $152,000. Schwab Charles Investment Management Inc. acquired a new position in shares of Goodrich Petroleum during the 2nd quarter worth about $205,000. Raymond James & Associates acquired a new position in shares of Goodrich Petroleum during the 2nd quarter worth about $217,000. Finally, Bank of New York Mellon Corp acquired a new position in shares of Goodrich Petroleum during the 2nd quarter worth about $232,000.

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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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