Fall Quarter Shakes Up Goodrich Petroleum Corp

Market analysts at Seaport Global Securities dropped their first quarter earnings per share estimates for Goodrich Petroleum in a study issued on Tuesday, according to Zacks Investment Research. M. Kelly now anticipates that the corporate will put up earnings per share of $0.31 for the quarter, low from their earlier forecast of $0.37. Seaport also issued estimations for Goodrich Petroleum’s fourth-quarter earnings at $0.78 EPS.

Goodrich Petroleum last published its quarterly earnings information on Tuesday. The corporate recorded $0.58 profits per share for the quarter, failing the Thomson Reuters’ consensus estimations of $0.45 by $0.13. The corporate made profits of $33.91 million during the quarter, compared to the agreement estimate of $32.86 million.

Several other equities analysts recently nudged on the corporate. Northland Securities restated a “purchase” ranking and set a $22.00 target on shares of Goodrich Petroleum in a report on Wednesday. Zacks Investment Research downgraded Goodrich Petroleum from a “maintain” ranking to a “sturdy sell” ranking in a report on Tuesday.

Shares of GDP stock opened at $12.56 on Wednesday. The company has a fifty-two-week low of $11.60 and a fifty-two-week high of $15.75.

Some institutional traders also made adjustments to their positions in GDP. Financial institution of New York Mellon Corp upped its holdings in the corporate by 3.6% in the fourth quarter. BNP Paribas Arbitrage SA now owns 1,877 shares of the company’s stock worth $26,000 after buying more 1,834 shares during the period. Northern Trust Corp grew its stake by 2.9% in the fourth quarter. Northern Trust Corp now owns 87,784 shares of worth $1,185,000 after an additional purchase of 2,467 shares.

Bank of America Corp DE also scaled up its holdings 63.1% in the quarter. The bank now owns 7,576 shares worth $102,000 following an additional purchase of 2,932 shares.


Alfredoo Epps

Alfredo Epps is a finance expert heading the petroleum column. He joined the group last year as an associate writer. But his thorough research skills and ability to seamlessly putting numerical data into words helped him get a senior position. Apart from a column head, Alfredo is a dancer and a violinist.

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *