Franklin Resources Inc Sells 30,211 Shares of Goodrich Petroleum Corp (GDPMQ) Stock

Goodrich Petroleum Corp (OTCMKTS:GDPMQ) major shareholder Franklin Resources Inc sold 30,211 shares of the company’s stock in a transaction dated Wednesday, November 8th. The shares were sold at an average price of $11.00, for a total transaction of $332,321.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Major shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Franklin Resources Inc also recently made the following trade(s):

  • On Monday, November 13th, Franklin Resources Inc sold 13,704 shares of Goodrich Petroleum Corp stock. The shares were sold at an average price of $10.77, for a total transaction of $147,592.08.
  • On Friday, November 10th, Franklin Resources Inc sold 5,700 shares of Goodrich Petroleum Corp stock. The shares were sold at an average price of $11.06, for a total transaction of $63,042.00.
  • On Wednesday, October 11th, Franklin Resources Inc sold 30,000 shares of Goodrich Petroleum Corp stock. The shares were sold at an average price of $10.00, for a total transaction of $300,000.00.
  • On Monday, September 25th, Franklin Resources Inc sold 2,689 shares of Goodrich Petroleum Corp stock. The shares were sold at an average price of $9.66, for a total transaction of $25,975.74.

Shares of Goodrich Petroleum Corp (GDPMQ) opened at $0.01 on Wednesday. Goodrich Petroleum Corp has a 52-week low of $0.01 and a 52-week high of $0.77.

Goodrich Petroleum Corp (OTCMKTS:GDPMQ) last posted its quarterly earnings results on Wednesday, November 8th. The oil and natural gas company reported $0.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.09. The company had revenue of $13.22 million during the quarter, compared to analysts’ expectations of $13.61 million. Goodrich Petroleum Corp’s revenue for the quarter was down 62.3% compared to the same quarter last year. During the same period last year, the company earned ($0.64) earnings per share.

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Hedge funds and other institutional investors have recently bought and sold shares of the company. Penn Capital Management Co. Inc. purchased a new stake in shares of Goodrich Petroleum Corp in the second quarter worth approximately $1,701,000. FMR LLC acquired a new position in Goodrich Petroleum Corp in the second quarter worth approximately $2,739,000. Parkwood LLC increased its holdings in Goodrich Petroleum Corp by 89.9% in the second quarter. Parkwood LLC now owns 85,471 shares of the oil and natural gas company’s stock worth $1,039,000 after buying an additional 40,471 shares during the last quarter. Ameriprise Financial Inc. acquired a new position in Goodrich Petroleum Corp in the second quarter worth approximately $1,387,000. Finally, Raffles Associates LP acquired a new position in Goodrich Petroleum Corp in the second quarter worth approximately $2,316,000.

GDPMQ has been the subject of a number of analyst reports. Zacks Investment Research lowered shares of Goodrich Petroleum Corp from a “hold” rating to a “sell” rating in a research note on Tuesday, July 25th. Seaport Global Securities reaffirmed a “buy” rating on shares of Goodrich Petroleum Corp in a research note on Wednesday, October 18th. EuroPacific Canada initiated coverage on shares of Goodrich Petroleum Corp in a research note on Tuesday, October 3rd. They set a “buy” rating and a $16.00 price objective for the company. Finally, Eurobank EFG initiated coverage on shares of Goodrich Petroleum Corp in a research note on Tuesday, October 3rd. They set a “buy” rating and a $16.00 price objective for the company. One analyst has rated the stock with a sell rating and seven have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $16.83.

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.

Insider Buying and Selling by Quarter for Goodrich Petroleum Corp (OTCMKTS:GDPMQ)

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