Goodrich Petroleum Corp (NYSEAMERICAN:GDP) – Equities research analysts at Seaport Global Securities reduced their Q2 2019 earnings estimates for shares of Goodrich Petroleum in a research note issued to investors on Monday, March 18th. Seaport Global Securities analyst M. Kelly now forecasts that the company will earn $0.48 per share for the quarter, down from their previous forecast of $0.50. Seaport Global Securities also issued estimates for Goodrich Petroleum’s Q3 2019 earnings at $0.63 EPS, Q4 2019 earnings at $0.79 EPS, Q1 2020 earnings at $1.08 EPS, Q2 2020 earnings at $0.64 EPS, Q3 2020 earnings at $0.80 EPS, Q4 2020 earnings at $0.96 EPS and FY2020 earnings at $3.47 EPS.
A number of other analysts have also recently commented on the stock. Capital One Financial cut shares of Goodrich Petroleum from an “overweight” rating to an “equal weight” rating in a research report on Thursday, December 20th. Zacks Investment Research cut shares of Goodrich Petroleum from a “hold” rating to a “strong sell” rating in a research report on Tuesday, January 15th. Finally, Northland Securities reaffirmed a “buy” rating and set a $22.00 price target on shares of Goodrich Petroleum in a research report on Wednesday, March 6th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $20.00.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Citigroup Inc. raised its holdings in shares of Goodrich Petroleum by 98.0% during the fourth quarter. Citigroup Inc. now owns 5,670 shares of the company’s stock valued at $77,000 after purchasing an additional 2,807 shares during the period. Bank of America Corp DE raised its holdings in shares of Goodrich Petroleum by 63.1% in the 4th quarter. Bank of America Corp DE now owns 7,576 shares of the company’s stock worth $102,000 after acquiring an additional 2,932 shares during the last quarter. Rhumbline Advisers acquired a new stake in shares of Goodrich Petroleum in the 4th quarter worth about $152,000. Bank of New York Mellon Corp raised its holdings 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 worth $346,000 after acquiring an additional 902 shares during the last quarter. Finally, Geode Capital Management LLC raised its holdings in shares of Goodrich Petroleum by 9.9% in the 4th quarter. Geode Capital Management LLC now owns 61,593 shares of the company’s stock worth $831,000 after acquiring an additional 5,536 shares during the last quarter.
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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