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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.

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