Stock Traders Purchase High Volume of Call Options on Goodrich Petroleum (GDP)
Goodrich Petroleum (NYSE:GDP) was the recipient of some unusual options trading on Monday. Stock investors bought 9,511 call options on the company, AnalystRatings.Net reports. This is an increase of 316% compared to the average volume of 2,285 call options.
GDP has been the subject of a number of recent research reports. Analysts at Howard Weil downgraded shares of Goodrich Petroleum from a “focus stock” rating to a “sector outperform” rating in a research note on Wednesday, June 18th. They now have a $37.00 price target on the stock. Separately, analysts at Global Hunter Securities raised their price target on shares of Goodrich Petroleum from $35.00 to $38.00 in a research note on Tuesday, June 3rd. Finally, analysts at Canaccord Genuity raised their price target on shares of Goodrich Petroleum from $29.00 to $33.00 in a research note on Tuesday, June 3rd. They now have a “buy” rating on the stock. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and ten have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $30.33.
Goodrich Petroleum (NYSE:GDP) traded down 9.44% on Monday, hitting $22.92. 3,309,530 shares of the company’s stock traded hands. Goodrich Petroleum has a 52 week low of $11.80 and a 52 week high of $30.52. The stock has a 50-day moving average of $27.3 and a 200-day moving average of $20.1. The company’s market cap is $1.015 billion.
Goodrich Petroleum (NYSE:GDP) last announced its earnings results on Tuesday, May 6th. The company reported ($0.54) EPS for the quarter, missing the Thomson Reuters consensus estimate of ($0.46) by $0.08. The company had revenue of $51.80 million for the quarter, compared to the consensus estimate of $53.71 million. During the same quarter in the prior year, the company posted ($0.76) earnings per share. The company’s quarterly revenue was up 10.0% on a year-over-year basis. On average, analysts predict that Goodrich Petroleum will post $-1.61 earnings per share for the current fiscal year.
Goodrich Petroleum Corporation is an independent oil and natural gas company engaged in exploration, development and production of oil and natural gas on properties primarily in Northwest Louisiana, East Texas and South Texas.
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