Goodrich Petroleum Corp (NYSEAMERICAN:GDP) Short Interest Update

Goodrich Petroleum Corp (NYSEAMERICAN:GDP) was the recipient of a large growth in short interest during the month of March. As of March 13th, there was short interest totalling 464,700 shares, a growth of 125.8% from the February 27th total of 205,800 shares. Based on an average daily volume of 24,000 shares, the days-to-cover ratio is currently 19.4 days. Approximately 4.2% of the company’s shares are sold short.

Shares of GDP traded down $0.10 during midday trading on Thursday, hitting $4.04. The company had a trading volume of 46,229 shares, compared to its average volume of 31,525. The company has a 50-day moving average price of $10.73. Goodrich Petroleum has a 1 year low of $2.39 and a 1 year high of $15.24.

Goodrich Petroleum (NYSEAMERICAN:GDP) last announced its quarterly earnings data on Thursday, March 5th. The company reported $0.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.21 by $0.02. The company had revenue of $33.59 million during the quarter, compared to analysts’ expectations of $31.88 million.

A number of analysts recently issued reports on the company. Zacks Investment Research raised Goodrich Petroleum from a “sell” rating to a “hold” rating in a research report on Friday, February 14th. Capital One Financial raised Goodrich Petroleum from an “equal weight” rating to an “overweight” rating in a research report on Monday, March 16th. Roth Capital downgraded Goodrich Petroleum to a “hold” rating in a research report on Friday, March 13th. Finally, SunTrust Banks cut their price objective on Goodrich Petroleum from $16.00 to $14.00 and set a “buy” rating for the company in a research report on Thursday, December 19th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $13.38.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Barclays PLC raised its position in shares of Goodrich Petroleum by 102.9% during the 4th quarter. Barclays PLC now owns 9,087 shares of the company’s stock worth $91,000 after acquiring an additional 4,609 shares in the last quarter. UBS Group AG raised its position in shares of Goodrich Petroleum by 43.5% during the 4th quarter. UBS Group AG now owns 12,614 shares of the company’s stock worth $127,000 after acquiring an additional 3,822 shares in the last quarter. Walthausen & Co. LLC raised its position in shares of Goodrich Petroleum by 7.4% during the 4th quarter. Walthausen & Co. LLC now owns 94,150 shares of the company’s stock worth $945,000 after acquiring an additional 6,500 shares in the last quarter. Finally, State Street Corp raised its position in shares of Goodrich Petroleum by 3.4% during the 4th quarter. State Street Corp now owns 148,696 shares of the company’s stock worth $1,493,000 after acquiring an additional 4,921 shares in 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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