Raffles Associates LP Purchases New Position in Goodrich Petroleum Corp (GDP)

Raffles Associates LP purchased a new stake in Goodrich Petroleum Corp (NYSE:GDP) during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 190,503 shares of the oil and natural gas company’s stock, valued at approximately $2,316,000. Goodrich Petroleum Corp accounts for approximately 2.2% of Raffles Associates LP’s portfolio, making the stock its 15th biggest holding. Raffles Associates LP owned 1.81% of Goodrich Petroleum Corp as of its most recent filing with the SEC.

A number of other institutional investors also recently added to or reduced their stakes in GDP. Schneider Capital Management Corp acquired a new stake in Goodrich Petroleum Corp in the 2nd quarter valued at $274,000. Parkwood LLC grew its stake in Goodrich Petroleum Corp by 89.9% in the 2nd quarter. Parkwood LLC now owns 85,471 shares of the oil and natural gas company’s stock valued at $1,039,000 after acquiring an additional 40,471 shares during the period. Ameriprise Financial Inc. acquired a new stake in Goodrich Petroleum Corp in the 2nd quarter valued at $1,387,000. Penn Capital Management Co. Inc. acquired a new stake in Goodrich Petroleum Corp in the 2nd quarter valued at $1,701,000. Finally, FMR LLC acquired a new stake in Goodrich Petroleum Corp in the 2nd quarter valued at $2,739,000.

In related news, major shareholder Franklin Resources Inc sold 2,689 shares of the stock in a transaction on Monday, September 25th. The stock was sold at an average price of $9.66, for a total transaction of $25,975.74. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

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A number of equities research analysts recently issued reports on GDP shares. Northland Securities started coverage on shares of Goodrich Petroleum Corp in a research note on Wednesday, June 28th. They issued an “outperform” rating and a $21.00 price target on the stock. Capital One Financial Corporation initiated coverage on shares of Goodrich Petroleum Corp in a research note on Tuesday, July 11th. They issued an “overweight” rating on the stock. Zacks Investment Research lowered Goodrich Petroleum Corp from a “hold” rating to a “sell” rating in a report on Tuesday, July 25th. Eurobank EFG initiated coverage on Goodrich Petroleum Corp in a report on Tuesday, October 3rd. They issued a “buy” rating and a $16.00 price objective on the stock. Finally, EuroPacific Canada initiated coverage on Goodrich Petroleum Corp in a report on Tuesday, October 3rd. They issued a “buy” rating and a $16.00 price objective on the stock. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. Goodrich Petroleum Corp has a consensus rating of “Buy” and a consensus target price of $16.80.

Goodrich Petroleum Corp (NYSE:GDP) last posted its quarterly earnings data on Friday, August 4th. The oil and natural gas company reported ($0.13) EPS for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.08. The company had revenue of $12.50 million for the quarter, compared to analyst estimates of $10.70 million. The firm’s quarterly revenue was down 42.9% compared to the same quarter last year.

Goodrich Petroleum Corp Company Profile

Goodrich Petroleum Corporation is an independent oil and natural gas company. The Company is engaged in the exploration, development and production of oil and natural gas on properties primarily in Southwest Mississippi and Southeast Louisiana, which includes the Tuscaloosa Marine Shale Trend (TMS); Northwest Louisiana and East Texas, which includes the Haynesville Shale Trend, and South Texas, which includes the Eagle Ford Shale Trend.

Institutional Ownership by Quarter for Goodrich Petroleum Corp (NYSE:GDP)

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