Seaport Global Securities Comments on Goodrich Petroleum Corp’s Q4 2018 Earnings (NYSEAMERICAN:GDP)

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Goodrich Petroleum Corp (NYSEAMERICAN:GDP) – Seaport Global Securities cut their Q4 2018 EPS estimates for Goodrich Petroleum in a research note issued to investors on Thursday, October 18th, Zacks Investment Research reports. Seaport Global Securities analyst M. Kelly now expects that the company will post earnings of $0.48 per share for the quarter, down from their previous forecast of $0.59. Seaport Global Securities also issued estimates for Goodrich Petroleum’s Q1 2019 earnings at $0.57 EPS, Q2 2019 earnings at $0.62 EPS and Q3 2019 earnings at $0.88 EPS.

A number of other brokerages have also commented on GDP. Zacks Investment Research raised Goodrich Petroleum from a “strong sell” rating to a “hold” rating in a report on Monday, October 22nd. Ifs Securities began coverage on Goodrich Petroleum in a report on Monday, October 29th. They issued an “outperform” rating on the stock.

Shares of GDP stock traded down $0.65 during trading on Friday, reaching $13.70. 12,429 shares of the company’s stock were exchanged, compared to its average volume of 42,347. Goodrich Petroleum has a twelve month low of $9.50 and a twelve month high of $15.75.

Goodrich Petroleum (NYSEAMERICAN:GDP) last posted its earnings results on Thursday, November 8th. The company reported $0.12 earnings per share for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.09). The company had revenue of $24.33 million during the quarter, compared to analyst estimates of $24.15 million.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. BlackRock Inc. grew its holdings in Goodrich Petroleum by 3.7% in the 3rd quarter. BlackRock Inc. now owns 429,568 shares of the company’s stock valued at $6,031,000 after buying an additional 15,142 shares in the last quarter. Renaissance Technologies LLC lifted its position in shares of Goodrich Petroleum by 61.4% during the 2nd quarter. Renaissance Technologies LLC now owns 126,500 shares of the company’s stock valued at $1,565,000 after acquiring an additional 48,100 shares during the period. Northern Trust Corp bought a new stake in shares of Goodrich Petroleum during the 2nd quarter valued at $999,000. Dimensional Fund Advisors LP lifted its position in shares of Goodrich Petroleum by 30.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 63,495 shares of the company’s stock valued at $785,000 after acquiring an additional 14,850 shares during the period. Finally, Bank of New York Mellon Corp lifted its position in shares of Goodrich Petroleum by 31.8% during the 3rd quarter. Bank of New York Mellon Corp now owns 24,715 shares of the company’s stock valued at $347,000 after acquiring an additional 5,959 shares during the period.

About Goodrich Petroleum

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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Earnings History and Estimates for Goodrich Petroleum (NYSEAMERICAN:GDP)

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