Goodrich Petroleum Corp to Post Q2 2019 Earnings of $0.50 Per Share, Seaport Global Securities Forecasts (GDP)

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Goodrich Petroleum Corp (NYSEAMERICAN:GDP) – Equities researchers at Seaport Global Securities boosted their Q2 2019 EPS estimates for shares of Goodrich Petroleum in a research report issued to clients and investors on Wednesday, March 6th. Seaport Global Securities analyst M. Kelly now anticipates that the company will earn $0.50 per share for the quarter, up from their prior estimate of $0.40. Seaport Global Securities also issued estimates for Goodrich Petroleum’s Q3 2019 earnings at $0.65 EPS, FY2019 earnings at $2.33 EPS, Q1 2020 earnings at $1.10 EPS, Q2 2020 earnings at $0.66 EPS, Q3 2020 earnings at $0.82 EPS, Q4 2020 earnings at $0.98 EPS and FY2020 earnings at $3.55 EPS.

Other equities analysts have also issued reports about the stock. Zacks Investment Research upgraded shares of Goodrich Petroleum from a “sell” rating to a “hold” rating in a report on Wednesday, February 20th. Northland Securities reiterated a “buy” rating and set a $22.00 target price on shares of Goodrich Petroleum in a report on Wednesday. Finally, Capital One Financial lowered shares of Goodrich Petroleum from an “overweight” rating to an “equal weight” rating in a report on Thursday, December 20th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $20.00.

Shares of GDP opened at $12.71 on Thursday. Goodrich Petroleum has a one year low of $9.92 and a one year high of $15.75.

Several hedge funds have recently added to or reduced their stakes in the company. Citigroup Inc. raised its holdings in Goodrich Petroleum by 98.0% in the 4th quarter. Citigroup Inc. now owns 5,670 shares of the company’s stock worth $77,000 after acquiring an additional 2,807 shares during the last quarter. Bank of America Corp DE grew its position in Goodrich Petroleum by 63.1% in the 4th quarter. Bank of America Corp DE now owns 7,576 shares of the company’s stock worth $102,000 after purchasing an additional 2,932 shares during the period. Rhumbline Advisers bought a new stake in Goodrich Petroleum in the 4th quarter worth approximately $152,000. Bank of New York Mellon Corp grew its position in Goodrich Petroleum by 3.6% in the 4th quarter. Bank of New York Mellon Corp now owns 25,617 shares of the company’s stock worth $346,000 after purchasing an additional 902 shares during the period. Finally, Geode Capital Management LLC grew its position in Goodrich Petroleum by 9.9% in the 4th quarter. Geode Capital Management LLC now owns 61,593 shares of the company’s stock worth $831,000 after purchasing an additional 5,536 shares during the period.

About Goodrich Petroleum

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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