Short Interest in Goodrich Petroleum Corp (NYSEAMERICAN:GDP) Rises By 125.8%

Goodrich Petroleum Corp (NYSEAMERICAN:GDP) was the target of a significant increase in short interest in March. As of March 13th, there was short interest totalling 464,700 shares, an increase of 125.8% from the February 27th total of 205,800 shares. Based on an average trading volume of 24,000 shares, the short-interest ratio is presently 19.4 days. Currently, 4.2% of the company’s stock are short sold.

NYSEAMERICAN GDP traded down $0.10 during trading on Thursday, hitting $4.04. 46,229 shares of the company traded hands, compared to its average volume of 31,525. Goodrich Petroleum has a 12 month low of $2.39 and a 12 month high of $15.24. The business’s fifty day simple moving average is $10.73.

Goodrich Petroleum (NYSEAMERICAN:GDP) last posted its earnings results on Thursday, March 5th. The company reported $0.23 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.21 by $0.02. The company had revenue of $33.59 million for the quarter, compared to the consensus estimate of $31.88 million.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Barclays PLC raised its holdings in Goodrich Petroleum by 102.9% during the fourth quarter. Barclays PLC now owns 9,087 shares of the company’s stock valued at $91,000 after buying an additional 4,609 shares in the last quarter. State Street Corp increased its stake in shares of Goodrich Petroleum by 3.4% in the fourth quarter. State Street Corp now owns 148,696 shares of the company’s stock worth $1,493,000 after purchasing an additional 4,921 shares during the period. Walthausen & Co. LLC increased its stake in shares of Goodrich Petroleum by 7.4% in the fourth quarter. Walthausen & Co. LLC now owns 94,150 shares of the company’s stock worth $945,000 after purchasing an additional 6,500 shares during the period. Finally, UBS Group AG increased its stake in shares of Goodrich Petroleum by 43.5% in the fourth quarter. UBS Group AG now owns 12,614 shares of the company’s stock worth $127,000 after purchasing an additional 3,822 shares during the period.

Several brokerages recently issued reports on GDP. Zacks Investment Research upgraded Goodrich Petroleum from a “sell” rating to a “hold” rating in a report on Friday, February 14th. SunTrust Banks cut their target price on Goodrich Petroleum from $16.00 to $14.00 and set a “buy” rating on the stock in a report on Thursday, December 19th. Capital One Financial upgraded Goodrich Petroleum from an “equal weight” rating to an “overweight” rating in a report on Monday, March 16th. Finally, Roth Capital lowered Goodrich Petroleum to a “hold” rating in a report on Friday, March 13th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $13.38.

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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