Goodrich Petroleum Co. (NYSEAMERICAN:GDP) – SunTrust Banks decreased their Q2 2018 earnings per share estimates for Goodrich Petroleum in a report released on Wednesday, May 16th. SunTrust Banks analyst N. Dingmann now expects that the company will post earnings of ($0.05) per share for the quarter, down from their previous estimate of $0.07. SunTrust Banks also issued estimates for Goodrich Petroleum’s Q4 2018 earnings at $0.39 EPS, FY2018 earnings at $0.01 EPS, FY2019 earnings at $1.50 EPS and FY2020 earnings at $2.15 EPS.
Separately, Robert W. Baird set a $18.00 price objective on shares of Goodrich Petroleum and gave the company a “buy” rating in a research note on Tuesday, May 1st.
Goodrich Petroleum (NYSEAMERICAN:GDP) last released its quarterly earnings data on Tuesday, May 15th. The company reported ($0.47) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.43). The business had revenue of $11.83 million for the quarter, compared to analysts’ expectations of $14.66 million.
In other news, major shareholder Gen Iv Investment Opportunitie bought 69,519 shares of the stock in a transaction dated Thursday, March 29th. The stock was bought at an average price of $10.75 per share, for a total transaction of $747,329.25. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Franklin Resources Inc sold 655,660 shares of the stock in a transaction dated Tuesday, March 20th. The shares were sold at an average price of $10.75, for a total transaction of $7,048,345.00. The disclosure for this sale can be found here.
Hedge funds have recently made changes to their positions in the company. ZPR Investment Management purchased a new stake in shares of Goodrich Petroleum in the first quarter valued at about $150,000. Dimensional Fund Advisors LP raised its holdings in shares of Goodrich Petroleum by 147.4% in the first quarter. Dimensional Fund Advisors LP now owns 48,645 shares of the company’s stock valued at $534,000 after purchasing an additional 28,984 shares during the last quarter. Finally, Spark Investment Management LLC purchased a new stake in shares of Goodrich Petroleum in the first quarter valued at about $109,000.
Goodrich Petroleum Company Profile
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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