Goodrich Petroleum Corp (GDP) Expected to Post Quarterly Sales of $10.50 Million
Brokerages expect Goodrich Petroleum Corp (NYSE:GDP) to announce sales of $10.50 million for the current fiscal quarter, according to Zacks. Three analysts have made estimates for Goodrich Petroleum Corp’s earnings, with the lowest sales estimate coming in at $10.10 million and the highest estimate coming in at $11.00 million. The company is scheduled to report its next quarterly earnings report before the market opens on Friday, August 4th.
According to Zacks, analysts expect that Goodrich Petroleum Corp will report full-year sales of $10.50 million for the current financial year, with estimates ranging from $46.42 million to $51.20 million. For the next fiscal year, analysts expect that the business will report sales of $93.27 million per share, with estimates ranging from $86.40 million to $104.00 million. Zacks’ sales averages are an average based on a survey of research firms that cover Goodrich Petroleum Corp.
Goodrich Petroleum Corp (NYSE:GDP) last posted its quarterly earnings results on Tuesday, May 9th. The oil and natural gas company reported ($0.63) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.04) by $0.59. The business had revenue of $9.41 million for the quarter, compared to analyst estimates of $9.89 million.
GDP has been the topic of a number of analyst reports. Capital One Financial Corporation initiated coverage on shares of Goodrich Petroleum Corp in a research note on Tuesday, July 11th. They set an “overweight” rating on the stock. SunTrust Banks, Inc. initiated coverage on shares of Goodrich Petroleum Corp in a research note on Tuesday, April 11th. They set a “buy” rating and a $20.00 price objective on the stock. Zacks Investment Research cut shares of Goodrich Petroleum Corp from a “hold” rating to a “sell” rating in a research note on Tuesday. Finally, Northland Securities initiated coverage on shares of Goodrich Petroleum Corp in a research note on Wednesday, June 28th. They set an “outperform” rating and a $21.00 price objective on the stock. One analyst has rated the stock with a sell rating and four have given a buy rating to the company’s stock. Goodrich Petroleum Corp currently has a consensus rating of “Buy” and a consensus price target of $20.50.
Goodrich Petroleum Corp (NYSE GDP) traded down 6.5297% during trading on Wednesday, hitting $12.2633. 6,117 shares of the company’s stock were exchanged. Goodrich Petroleum Corp has a 12-month low of $10.05 and a 12-month high of $17.25. The company’s 50-day moving average price is $12.65 and its 200 day moving average price is $13.61. The firm has a market cap of $111.69 million and a price-to-earnings ratio of 11.9759.
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In related news, VP Robert T. Barker sold 3,072 shares of Goodrich Petroleum Corp stock in a transaction on Tuesday, June 6th. The shares were sold at an average price of $12.20, for a total value of $37,478.40. The transaction was disclosed in a legal filing with the SEC, which is available at this link.
An institutional investor recently raised its position in Goodrich Petroleum Corp stock. Parkwood LLC increased its position in shares of Goodrich Petroleum Corp (NYSE:GDP) by 89.9% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 85,471 shares of the oil and natural gas company’s stock after buying an additional 40,471 shares during the period. Parkwood LLC owned 0.94% of Goodrich Petroleum Corp worth $1,039,000 as of its most recent filing with the SEC.
Goodrich Petroleum Corp Company Profile
Goodrich Petroleum Corporation is an independent oil and natural gas company. The Company is engaged in the exploration, development and production of oil and natural gas on properties primarily in Southwest Mississippi and Southeast Louisiana, which includes the Tuscaloosa Marine Shale Trend (TMS); Northwest Louisiana and East Texas, which includes the Haynesville Shale Trend, and South Texas, which includes the Eagle Ford Shale Trend.
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