PENNYBUSTER'S PENNY BUSTIN PLAYS!!

[Pennybuster]

$GDP Shares of Goodrich Petroleum NYSE:$GDP saw a large decrease in short interest in July. As of July 15th, there was short interest totalling 13,150,304 shares, a decrease of 18.4% from the June 30th total of 16,110,090 shares, Market Beat.com reports. Based on an average trading volume of 2,050,517 shares, the short-interest ratio is presently 6.4 days. Approximately 27.8% of the shares of the stock are short sold.

In related news, Director Josiah T. Austin acquired 13,912 shares of the stock in a transaction that occurred on Thursday, June 18th. The stock was purchased at an average price of $6.61 per share, with a total value of $91,958.32. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Several equities research analysts recently commented on GDP shares. RBC Capital reissued an “outperform” rating and set a $4.00 price objective (down from $5.00) on shares of Goodrich Petroleum in a research report on Thursday. Northland Securities reaffirmed a “hold” rating and issued a $1.00 target price on shares of Goodrich Petroleum in a report on Wednesday, July 29th. Zacks cut shares of Goodrich Petroleum from a “buy” rating to a “hold” rating in a research note on Thursday, July 23rd. SunTrust cut their target price on shares of Goodrich Petroleum from $7.00 to $4.00 and set a “buy” rating for the company in a research report on Thursday, June 18th. Finally, Imperial Capital boosted their price objective on shares of Goodrich Petroleum from $4.00 to $7.00 and gave the company an “outperform” rating in a research report on Thursday, May 7th. Five investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and four have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $10.66.

Goodrich Petroleum (NYSE:GDP) opened at 0.73 on Monday. The firm has a 50-day moving average price of $1.32 and a 200-day moving average price of $2.81. Goodrich Petroleum has a 12-month low of $0.65 and a 12-month high of $22.61. The stock’s market cap is $41.73 million.

Goodrich Petroleum (NYSE:GDP) last issued its quarterly earnings results on Wednesday, August 5th. The company reported ($0.33) earnings per share for the quarter, missing the consensus estimate of ($0.29) by $0.04. The business had revenue of $37.30 million for the quarter, compared to the consensus estimate of $34.46 million. Goodrich Petroleum’s revenue was down 25.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.48) earnings per share. Analysts forecast that Goodrich Petroleum will post ($1.21) EPS for the current fiscal year.

Goodrich Petroleum Corporation is an independent oil and natural gas company. The Company is engaged in the investigation, development and production of petroleum and natural gas on properties chiefly in Southwest Mississippi and Southeast Louisiana, which includes the Tuscaloosa Marine Shale Trend (NYSE:GDP); South Texas, including the Eagle Ford Shale Trend, and Northwest Louisiana and East Texas, which includes the Haynesville Shale. The Organization owns interests in about 260 creating petroleum and natural gas wells located in around 43 fields in eight states of the United States. The Organization also offers ownership interests in many other fields in wells and acreage, including the Midway field in the Garfield Unit in Kalkaska County, Michigan, Texas along with San Patricio County. The Business has estimated proved reserves of around 273.7 billion cubic feet equivalent (Bcfe).


http://www.tickerreport.com/banking-finance/703522/goodrich-petroleum-short-interest-down-18-4-in-july-gdp/