Traders Purchase High Volume of Put Options on Goodrich Petroleum (GDP)
Goodrich Petroleum (NYSE:GDP) was the target of some unusual options trading activity on Tuesday. Stock traders purchased 5,189 put options on the stock, Stock Ratings Network.com reports. This represents an increase of approximately 354% compared to the average volume of 1,144 put options.
A number of analysts have recently weighed in on GDP shares. Analysts at KLR Group upgraded shares of Goodrich Petroleum from a “hold” rating to an “accumulate” rating in a research note on Tuesday, August 12th. They now have a $25.00 price target on the stock. Separately, analysts at SunTrust cut their price target on shares of Goodrich Petroleum from $41.00 to $35.00 in a research note on Friday, August 8th. Finally, analysts at RBC Capital cut their price target on shares of Goodrich Petroleum from $31.00 to $29.00 in a research note on Friday, August 8th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. Goodrich Petroleum has a consensus rating of “Buy” and a consensus target price of $33.75.
Goodrich Petroleum (NYSE:GDP) traded up 1.49% on Tuesday, hitting $18.40. The stock had a trading volume of 1,486,524 shares. 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 $21.4 and a 200-day moving average of $21.0. The company’s market cap is $817.5 million.
Goodrich Petroleum (NYSE:GDP) last announced its earnings results on Thursday, August 7th. The company reported ($0.48) EPS for the quarter, missing the Thomson Reuters consensus estimate of ($0.46) by $0.02. The company had revenue of $53.30 million for the quarter, compared to the consensus estimate of $55.10 million. During the same quarter in the prior year, the company posted ($0.63) earnings per share. The company’s quarterly revenue was up 9.9% on a year-over-year basis. Analysts expect that Goodrich Petroleum will post $-1.70 EPS 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.