Goodrich Petroleum Corp (NYSEAMERICAN:GDP) was the target of a significant decrease in short interest in the month of August. As of August 31st, there was short interest totalling 193,900 shares, a decrease of 5.7% from the July 31st total of 205,600 shares. Currently, 2.1% of the company’s shares are sold short. Based on an average trading volume of 21,200 shares, the days-to-cover ratio is presently 9.1 days.
A number of large investors have recently added to or reduced their stakes in GDP. Bank of America Corp DE lifted its stake in Goodrich Petroleum by 63.1% in the fourth quarter. Bank of America Corp DE now owns 7,576 shares of the company’s stock valued at $102,000 after buying an additional 2,932 shares during the period. BNP Paribas Arbitrage SA raised its position in shares of Goodrich Petroleum by 4,265.1% during the first quarter. BNP Paribas Arbitrage SA now owns 1,877 shares of the company’s stock worth $26,000 after purchasing an additional 1,834 shares during the period. Spark Investment Management LLC raised its position in shares of Goodrich Petroleum by 86.5% during the first quarter. Spark Investment Management LLC now owns 40,702 shares of the company’s stock worth $553,000 after purchasing an additional 18,880 shares during the period. Acadian Asset Management LLC raised its position in shares of Goodrich Petroleum by 44.2% during the second quarter. Acadian Asset Management LLC now owns 12,036 shares of the company’s stock worth $156,000 after purchasing an additional 3,691 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Goodrich Petroleum by 11.3% during the second quarter. Charles Schwab Investment Management Inc. now owns 21,898 shares of the company’s stock worth $285,000 after purchasing an additional 2,229 shares during the period.
NYSEAMERICAN:GDP opened at $11.28 on Monday. Goodrich Petroleum has a 1-year low of $9.23 and a 1-year high of $15.50.
Several equities analysts have recently issued reports on GDP shares. B. Riley started coverage on Goodrich Petroleum in a research note on Monday, May 20th. They set a “buy” rating and a $15.50 price target on the stock. Northland Securities assumed coverage on Goodrich Petroleum in a research note on Sunday, September 1st. They issued a “buy” rating and a $13.00 target price on the stock. Alembic Global Advisors reissued a “buy” rating on shares of Goodrich Petroleum in a research note on Monday, June 17th. Finally, TheStreet lowered Goodrich Petroleum from a “b” rating to a “c” rating in a research note on Monday, June 17th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $14.25.
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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