Brokers Issue Forecasts for Goodrich Petroleum Corp’s FY2018 Earnings (GDP)

Goodrich Petroleum Corp (NYSEAMERICAN:GDP) – Research analysts at SunTrust Banks increased their FY2018 earnings per share (EPS) estimates for shares of Goodrich Petroleum in a research report issued to clients and investors on Tuesday, November 27th. SunTrust Banks analyst N. Dingmann now forecasts that the company will post earnings of ($0.03) per share for the year, up from their prior estimate of ($0.05). SunTrust Banks also issued estimates for Goodrich Petroleum’s FY2019 earnings at $1.97 EPS.

Goodrich Petroleum (NYSEAMERICAN:GDP) last released its quarterly earnings results on Thursday, November 8th. The company reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.21 by ($0.09). The firm had revenue of $24.33 million during the quarter, compared to analysts’ expectations of $24.15 million.

Several other equities analysts have also recently weighed in on the company. Zacks Investment Research cut Goodrich Petroleum from a “hold” rating to a “strong sell” rating in a report on Friday, September 28th. Ifs Securities initiated coverage on Goodrich Petroleum in a report on Monday, October 29th. They set an “outperform” rating on the stock.

NYSEAMERICAN GDP opened at $14.42 on Friday. Goodrich Petroleum has a 1-year low of $9.50 and a 1-year high of $15.75.

A number of institutional investors have recently made changes to their positions in the stock. BlackRock Inc. raised its holdings in Goodrich Petroleum by 3.7% in the 3rd quarter. BlackRock Inc. now owns 429,568 shares of the company’s stock worth $6,031,000 after purchasing an additional 15,142 shares during the period. Vanguard Group Inc. raised its holdings in Goodrich Petroleum by 17.8% in the 3rd quarter. Vanguard Group Inc. now owns 330,997 shares of the company’s stock worth $4,647,000 after purchasing an additional 50,118 shares during the period. Renaissance Technologies LLC raised its holdings in Goodrich Petroleum by 61.4% in the 2nd quarter. Renaissance Technologies LLC now owns 126,500 shares of the company’s stock worth $1,565,000 after purchasing an additional 48,100 shares during the period. Dimensional Fund Advisors LP raised its holdings in Goodrich Petroleum by 66.1% in the 3rd quarter. Dimensional Fund Advisors LP now owns 105,479 shares of the company’s stock worth $1,481,000 after purchasing an additional 41,984 shares during the period. Finally, Northern Trust Corp bought a new position in Goodrich Petroleum in the 2nd quarter worth $999,000.

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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Earnings History and Estimates for Goodrich Petroleum (NYSEAMERICAN:GDP)

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