Goodrich Petroleum Corp (GDP) Sees Significant Decline in Short Interest

Goodrich Petroleum Corp (NYSEAMERICAN:GDP) saw a significant decrease in short interest during the month of January. As of January 31st, there was short interest totalling 126,085 shares, a decrease of 29.4% from the January 15th total of 178,657 shares. Based on an average daily volume of 25,389 shares, the short-interest ratio is currently 5.0 days. Approximately 1.6% of the company’s stock are sold short.

Shares of GDP opened at $12.77 on Tuesday. Goodrich Petroleum has a 12-month low of $9.92 and a 12-month high of $15.75.

Institutional investors and hedge funds have recently made changes to their positions in the company. Rhumbline Advisers purchased a new position in shares of Goodrich Petroleum during the fourth quarter worth approximately $152,000. Schwab Charles Investment Management Inc. purchased a new position in shares of Goodrich Petroleum during the second quarter worth approximately $205,000. Raymond James & Associates purchased a new position in shares of Goodrich Petroleum during the second quarter worth approximately $217,000. Bank of New York Mellon Corp purchased a new position in shares of Goodrich Petroleum during the second quarter worth approximately $232,000. Finally, Dimensional Fund Advisors LP grew its position in shares of Goodrich Petroleum by 30.5% during the second quarter. Dimensional Fund Advisors LP now owns 63,495 shares of the company’s stock worth $785,000 after acquiring an additional 14,850 shares during the last quarter.

A number of brokerages have recently issued reports on GDP. Zacks Investment Research lowered shares of Goodrich Petroleum from a “hold” rating to a “sell” rating in a research report on Friday, February 1st. Capital One Financial lowered shares of Goodrich Petroleum from an “overweight” rating to an “equal weight” rating in a research report on Thursday, December 20th. Finally, Ifs Securities began coverage on shares of Goodrich Petroleum in a research report on Monday, October 29th. They set an “outperform” rating on the stock.

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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.

Further Reading: Strangles

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