GDP - Goodrich Petroleum Corporation

NYSE American - NYSE American Delayed Price. Currency in USD
6.01
+0.06 (+1.01%)
At close: 4:00PM EST
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Previous Close5.95
Open6.15
Bid5.91 x 800
Ask6.15 x 900
Day's Range5.91 - 6.18
52 Week Range5.18 - 15.24
Volume8,801
Avg. Volume17,850
Market Cap73.139M
Beta (5Y Monthly)0.98
PE Ratio (TTM)4.17
EPS (TTM)1.44
Earnings DateMar 04, 2020
Forward Dividend & YieldN/A (N/A)
Ex-Dividend DateN/A
1y Target Est12.20
  • Fed signals pause on easing after quarter point rate cut
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    Fed signals pause on easing after quarter point rate cut

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  • PR Newswire

    EnerCom Dallas 2020 Energy Investment Conference Set to Welcome Hundreds of Energy Industry Executives to Texas

    Institutional investors, portfolio managers, financial analysts, CIOs and other capital market professionals who invest in the energy space will attend the EnerCom Dallas energy investment conference, coming to The Tower Club beginning tomorrow February 11th through the 12th in downtown Dallas.

  • PR Newswire

    Goodrich Petroleum To Participate At Upcoming Events

    Goodrich Petroleum Corporation (NYSE American: GDP) (the "Company") today announced that the Company's management team will be participating at the following conferences.

  • PR Newswire

    Day One Keynote Speaker, Chris Wright, Announced for EnerCom Dallas Energy Investment Conference, February 11-12, 2020

    Institutional investors, portfolio managers, financial analysts, CIOs and other capital market professionals who invest in the energy space should register now for the EnerCom Dallas energy investment conference, which is coming to The Tower Club February 11-12 in downtown Dallas.

  • 3 “Strong Buy” Energy Stocks to Catch on Oil Demand Growth
    TipRanks

    3 “Strong Buy” Energy Stocks to Catch on Oil Demand Growth

    Oil may be a necessity in today’s economy, but that doesn’t mean oil prices always go up. In recent years, supply has outpaced demand, putting downward pressure on prices. The fracking revolution in the US oil industry, which opened up previously non-viable or unavailable reserves in shale formations, has turned the US into the world’s largest oil producer and, for now, a net exporter of crude oil products.The effect on prices has been long-term macro-level volatility. Prices troughed four years ago, in January 2016, climbed steadily to peak in September 2018, and have been unable to regain highs since, in the face of increasing US production and slack global demand. Prices gained 35% last year, bur remain well below their 2018 high.OPEC, the world’s largest cartel of major oil producers, has announced several production cuts since December 2018 – the most recent just a month ago – in efforts to support prices and balance supply and demand. At the same time, the cartel sees demand expanding in 2020 and into 2021. OPEC Secretary General Mohammed Barkindo said recently, “what we see from our side is an upside potential of growth from the demand side of the equation, which will affect the total balance for the rest of the year…”For oil producers, increased demand may be the only way out of low-price regime. Middle East tensions in recent months – the Iranian attack on Saudi oil facilities, and the US-Iran spat in December – spiked prices, but the spikes faded quickly. Oil producers are hoping that Barkindo turns out to be correct, and that demand intensifies, as that will likely be the surest way out of the current low-price regime.For some small- to mid-sized oil companies, renewed demand may catch them well-prepared for an increased operational tempo and higher product deliveries. Which, in turn, will translate to improved profits and share prices for investors.We’ve used TipRanks’ Stock Screener tool to find three "strong buy" energy stocks that are primed for gains, as recent months have pushed their share price down. Let's take a closer look.Noble Energy (NBL)Houston-based Noble energy is mid-cap hydrocarbon exploration and development company with a global footprint. A slim majority of the company’s operations are in Texas – Noble is a major player in the Permian Basin and Eagle Ford formations – but the company is heavily invested in offshore operations in Equatorial Guinea and in the first natural gas production by both Cyprus and Israel. The Israeli gas fields holds 43% of Noble’s proven reserves.Noble’s operations in the Mediterranean went online in late 2019, and the capex on expansion combined with low prices to depress earnings. The company’s revenue came in at $1.12 billion for Q3, but that was down from $1.27 billion the prior year. Unadjusted earnings saw a sharper loss, from Q3 2018’s 47 cents to the recent 4 cents. However, the adjusted EPS, a net loss of 10 cents, was better than the 11-cent loss expected.Writing on the stock from Stifel Nicolaus, analyst Michael Scialla said, “Our analysis suggests the company's DJ and Southern Delaware Basin wells are significantly outperforming nearby peers. Despite an impending Eagle Ford production decline, the NBL's U.S. assets are poised to generate 2020 oil growth and FCF.”Scialla raised his price target on NBL to $37 (from $34), supporting his Buy rating on the stock. His price target implies room for a robust 65% upside. (To watch Scialla’s track record, click here)Another bullish view of Noble’s strength comes from its TipRanks Smart Score. This score, derived from eight separate data sets, comes in at a perfect 10, showing that the stock is likely to outperform the broader markets in the coming year. All in all, NBL’s recent analyst reviews include 7 Buys and just 2 Holds, giving the stock a Strong Buy from the consensus view. Shares are priced at an affordable $22.36, and the $28.44 average price target suggests an upside potential of 27%. (See Noble stock analysis at TipRanks)Goodrich Petroleum Corporation (GDP)Next up for our inspection is a micro-cap oil and gas company, with oil operations in Texas’ Eagle Ford formation and gas ops in Louisiana’s Haynesville Shale. Falling prices for both oil and gas have hurt the company, depressing share prices more than increasing production could compensate. GDP shares lost 32% in 2019.That loss, however, has made the company’s stock a bargain buy should improved demand push prices back up. In Q3 2019, the most recent reported, Goodrich’s natural gas output increased by 61% year-over-year, reaching 136 million cubic feet per day. High production kept earnings in the black, and while the 14-cent EPS missed the forecast, it was up 16% yoy.So, Goodrich’s situation now is simple: the stock is selling low, yet the company’s oil and gas production is increasing, and earnings are solid. It’s a firm base for future investment, and Wall Street is casting an interested eye at the company.Welles Fitzpatrick, of SunTrust Robinson, is among the analysts who believes Goodrich’s current position makes the stock a buying proposition. Fitzpatrick noted that the company’s forward guidance is “extremely conservative,” offering projections “substantially below” consensus. He was impressed, however, with the “[Goodrich’s] clean balance sheet and acreage in the core of the Haynesville.”Fitzpatrick backed his Buy rating with a $12 price target, suggesting room for 34% upside growth. (To watch Fitzpatrick’s track record, click here)GDP’s three most recent analyst reviews are all Buys, giving the stock a unanimous consensus rating of Strong Buy. Shares are priced modestly, at $8.71, and the $14.33 average price target indicates an impressive upside of 86%. (See Goodrich’s price targets and analyst ratings on TipRanks)WPX Energy, Inc. (WPX)Last on our list is WPX, a mid-cap company with a $5.3 billion market cap and operations in North Dakota and Texas. The company’s assets lie in the Williston Basin and the Permian Basin – two of North America’s richest oil-bearing formations. WPX’s proven reserves contain more than 480 million barrels of oil equivalent, of which a majority are in Texas. The company has over 700 operating wells on its land holdings.WPX holds a strong position in production, backed by large reserves. In 2018, the company showed $2.3 billion in revenues and brought in $150 million in net profits. WPX’s most recent reported quarter was Q3 2019, and showed EPS at 9 cents, below the 11-cent forecast but above the 7 cents reported the year before. Revenues beat the forecast, by 25%, coming in at $795 million, and beat the year-ago number by 64%.In mid-December, WPX shares spiked after the company announced its purchase of the privately held oil company – and Permian Basin competitor – Felix Energy. The deal was valued at $2.5 billion, adds land holdings from the Delaware Basin to WPX’s already-valuable portfolio. The Delaware is a rich shale-oil formation; this purchase adds the acreage, and reduces WPX’s competition.Evercore ISI analyst Stephen Richardson writes of WPX, “The market has rewarded WPX for a well-timed, structured, and priced acquisition of Felix… We have been of the view that legacy WPX was setting up to beat and raise in the Permian in 2020, and we think this… accounts for some of the additional oil growth now reflected in combined-co guidance… Felix is ratably almost doubling production on an exit to exit basis which unsurprisingly raised some eyebrows.”Richardson is bullish on this stock, and his Buy rating is backed up by a $16 price target – implying room for 28% growth to the upside. (To watch Richardson’s track record, click here)With 14 Buy ratings, WPX shares hold a Strong Buy rating from the analyst consensus. Shares are not expensive, priced at just $12.51, and the average price target of $17.07 suggests a strong upside potential of 37%. (See WPX’s stock analysis at TipRanks)

  • How Much is Goodrich Petroleum Corporation's (NYSEMKT:GDP) CEO Getting Paid?
    Simply Wall St.

    How Much is Goodrich Petroleum Corporation's (NYSEMKT:GDP) CEO Getting Paid?

    Gil Goodrich became the CEO of Goodrich Petroleum Corporation (NYSEMKT:GDP) in 1995. This analysis aims first to...

  • 3 Beaten-Down Energy Stocks That Are Bound to Make a Comeback
    TipRanks

    3 Beaten-Down Energy Stocks That Are Bound to Make a Comeback

    Markets finished last year on a high note, with annual gains between 22% on the Dow Jones and 35% on the NASDAQ. But just because the markets overall did well, it does not mean that every individual stock saw big gains. Energy stocks, in particular, had a difficult year.According to David Rosenberg, chief economist and strategist of Rosenberg Research and Associates, “In a world where everything looks so expensive, energy stocks look downright cheap.” At the same time, he sees the current low prices as a prime time to buy in. He believes that energy stocks are ready for gains.Defending this belief, Rosenberg points out several factors. First, that US shale companies, which have underperformed the markets due to low oil prices, are working hard to bring investors back in. These companies need capital infusions to maintain operations, and their best path to that is finding a way to push share prices back up.Second, the sudden easing of US-Iran tensions in the Middle East has eased fears of renewed conflict that could constrict the flow oil in world trade. While such tensions would inflate oil prices, their easing promotes safer shipping and renewed exploration in the theater – both better for the industry in the long run.As Rosenberg puts it, “In the energy space… all that has to happen is for something bad not to happen and there will be a positive rerating as the end-result.”TipRanks, a company that collects and collates reams of real-time information on Wall Streets publicly traded stocks – and analysts – has the data necessary to test this hypothesis. Setting the Stock Screener filters to show only stocks from the basic materials sector, with a Strong Buy analyst consensus and upside potential of 20% or more, we picked three energy stocks that Wall Street’s agree are ready to start climbing.Callon Petroleum Co. (CPE)We’ll start with Callon Petroleum, a small-cap oil and gas exploration and development company focused on the Permian Basin of West Texas. Over the past decade, the Permian formation has become North America’s largest proven energy reserve and has pushed the US into position as the world’s top oil producer.Over the course of 2019, while the oil industry was ramping up production, low prices put a damper on profits. CPE shares slipped 26% during the year on falling revenues.The falling revenues and share depreciation came even as the company was managing to beat analyst expectations on reported earnings and revenues. In Q3, the most recent reported, CPE showed EPS of 19 cents, 5.5% above expectation, and revenues of $155.4 million, 2% over the forecast. It was the third time in a year that CPE had beaten the EPS forecast.This could explain CPE’s positive indication from TipRanks’ measurement of investor sentiment. Purchases of the stock are up in both the past 30 days and the past week – a very positive sign for Callon.The company caught the attention of RBC Capital analyst Brad Heffern. Heffern was attracted by Callon’s placement in Texas’ most productive oil region, as well as the company’s potential for increasing free cash flow. He wrote, “We like the company's strong asset positions in the Permian and Eagle Ford Basins… we think CPE has successfully transitioned from a Permian pure play growth story, to sustainable corporate return model with asset diversification, centered around sustainable growth and free cash flow generation. As CPE transitions to a free cash flow model, we would expect the company to… ultimately consider implementing a dividend or returning cash to shareholders through a repurchase program.”Heffern put a Buy rating on CPE, with an $8 price target. His target suggests room for an eye-opening 94% upside growth potential this year. (To watch Heffern’s track record, click here)Currently, Callon sells for $4.22, a bargain price. The average price target of $7.33 shows the stock’s potential – an impressive 74% upside. The Strong Buy analyst consensus rating is based on 8 Buys against a single Hold. (See Callon’s stock analysis at TipRanks)QEP Resources, Inc. (QEP)Our second stock, QEP, is another exploration and development company, working in crude oil, natural gas liquids, and dry gas deposits. With headquarters in Denver, Colorado, QEP has oil and gas operations in both the Texas Permian Basin and North Dakota’s Williston Basin.Ending 2018, QEP had proven reserves of 658 million barrels of oil equivalent, and in Q3 2019 produced 8.4 million barrels. The production breakdown for the quarter was 67% oil, 16% natural gas liquids, and 17% dry gas. During the same quarter, QEP bet the forecasts on EPS despite slowing production outputs. QEP had a strong cash position at the end of Q3, also, with $92.4 million on hand and borrowing against its revolving credit line.QEP shares dropped steadily in 2019, but turned up sharply in December. That gain mitigated the year’s loss, holding it to 21%. The recent tensions in the Middle East hurt the oil industry generally, including QEP shares – but QEP has not lost as much in January as it had gained the month before.Piper Sandler analyst Kashy Harrison was impressed with QEP’s overall position. Harrison believes the company has a solid foundation to improve the balance sheet, and that its prospects going forward depend more on management execution than anything else. He writes, “We think QEP looks cheap as long as it executes on the forward outlook. Notably, recent execution from new management coupled with a conservative approach toward forward guidance improves our confidence in the outlook… We expect FCF generated in the near-term will primarily clean up the balance sheet…”Harrison’s Buy rating is backed up with a $6 price target, indicating room for a 54% upside. (To watch Harrison’s track record, click here)Like CPE above, QEP sells for a bargain price – this time, just $3.89. The average price target of $5.63 suggests room for a robust 44% upside. The Strong Buy analyst consensus rating is based on 4 reviews, including 3 Buys and 1 Hold. (See QEP’s stock analysis at TipRanks)Goodrich Petroleum Corporation (GDP)Third on our list is a micro-cap company, of just $105 million market cap, based in Texas and Louisiana. Unlike the companies above, Goodrich does not operate in the Permian Basin– it is focused on the Eagle Ford formation of East Texas. The company also has operations in Louisiana, where the majority of its operations are focused on natural gas exploitation in the Haynesville Shale.Goodrich saw strong production in Q3 2019, the most recent reported, with natural gas output reaching 136 million cubic feet per day in the quarter. This was a 61% year-over-year increase. Earnings came in at 14 cents per share based on $2 million net income, missing the forecasts however. The company’s higher output overbalanced lower gas prices to generate the positive earnings and avoiding a net loss.The third quarter may have been adequate, but 2019 as a whole was not good for GDP shares. The stock lost 32% during the year, and has started 2020 with further losses. The result is an energy company with a depressed share price – and rising output on expanding exploration areas. This solid base has attracted attention from Wall Street analysts.Writing from Roth Capital, John White is impressed with Goodrich’s management. He said, after the quarterly earnings call, “[The] 2020 plan continues GDP’s allstar execution and prudent management practices, focused on cash flow and balance sheet strength while still achieving production growth.”White puts an $18 price target on GDP, implying a whopping 110% upside growth potential and supporting his Buy rating. (To watch White’s track record, click here)Northland’s Jeff Grampp agrees that GDP is a Buy proposition. He weighed in at the same time, and wrote, “The company's 2020 development program assumes 13 gross (5.8 net) wells are placed to sales (72% of net wells operated) with an average lateral length of 8,500 feet… We think the new guidance implies an attractive financial position for GDP. FCF is expected… to yield ~16% at the midpoint. Additionally, leverage is expected to end 2020 at ~1x and there is solid downside protection with 45%-50% of natural gas production hedged.”Grampp’s Buy rating is supported by a $13 price target – which indicates his confidence in 51% growth to the upside. (To watch Grampp’s track record, click here)Goodrich has a unanimous Strong Buy consensus rating, based on 3 Buy reviews from Wall Street. Shares are cheap, at just $8.56, and the $15 average price target suggests an upside potential of 72% – most impressive indeed. (See Goodrich’s stock analysis at TipRanks)

  • PR Newswire

    Presenting Company Line-Up Announced for EnerCom Dallas Energy Investment Conference, February 11-12, 2020

    Institutional investors, portfolio managers, financial analysts, CIOs and other capital market professionals who invest in the energy space should register now for the EnerCom Dallas energy investment conference, which is coming to The Tower Club February 11-12 in downtown Dallas.

  • Goodrich Petroleum Corporation (GDP): Hedge Funds Mostly In Wait-and-See Mode
    Insider Monkey

    Goodrich Petroleum Corporation (GDP): Hedge Funds Mostly In Wait-and-See Mode

    Hedge funds are not perfect. They have their bad picks just like everyone else. Facebook, a stock hedge funds have loved dearly, lost nearly 40% of its value at one point in 2018. Although hedge funds are not perfect, their consensus picks do deliver solid returns, however. Our data show the top 20 S&P 500 […]

  • PR Newswire

    Registration is Open for EnerCom Dallas Energy Investment Conference, February 11-12, 2020

    Institutional investors, portfolio managers, financial analysts, CIOs and other investment community professionals who invest in the energy space should register now for the EnerCom Dallas energy investment conference, which is coming to The Tower Club February 11-12 in downtown Dallas.

  • PR Newswire

    Goodrich Petroleum Announces Capital Expenditure Budget And 2020 Guidance

    Goodrich Petroleum Corporation (NYSE American: GDP) today announced a preliminary 2020 capital expenditure budget of $55 - $65 million, an approximate 35% reduction from the midpoint of 2019 capital expenditure guidance. At natural gas and oil prices of $2.50 and $55.00, respectively, the Company expects to generate approximately $15 – $25 million of free cash flow, which at the midpoint of guidance would generate a free cash flow yield of approximately 9% and 16% on the Company's current enterprise value and market capitalization, respectively. At this price deck the Company anticipates exiting 2020 at approximately 1.0 times debt to EBITDA.

  • Is Goodrich Petroleum Corporation’s (NYSEMKT:GDP) 19% ROCE Any Good?
    Simply Wall St.

    Is Goodrich Petroleum Corporation’s (NYSEMKT:GDP) 19% ROCE Any Good?

    Today we'll evaluate Goodrich Petroleum Corporation (NYSEMKT:GDP) to determine whether it could have potential as an...

  • Did You Manage To Avoid Goodrich Petroleum's (NYSEMKT:GDP) 28% Share Price Drop?
    Simply Wall St.

    Did You Manage To Avoid Goodrich Petroleum's (NYSEMKT:GDP) 28% Share Price Drop?

    It's easy to match the overall market return by buying an index fund. When you buy individual stocks, you can make...

  • PR Newswire

    Goodrich Petroleum Announces Third Quarter 2019 Financial Results

    HOUSTON , Nov. 7, 2019 /PRNewswire/ -- Goodrich Petroleum Corporation (NYSE American: GDP) (the "Company") today announced financial results for the third quarter ended September 30, 2019 . QUARTER ...

  • PR Newswire

    Goodrich Petroleum Announces Conference Call to Discuss Third Quarter 2019 Financial Results and Operational Update

    HOUSTON , Oct. 10, 2019 /PRNewswire/ -- Goodrich Petroleum Corporation (NYSE American: GDP) (the "Company") today announced that it will hold a conference call on Thursday, November 7 at 10:00 ...

  • Does Market Volatility Impact Goodrich Petroleum Corporation's (NYSEMKT:GDP) Share Price?
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    Does Market Volatility Impact Goodrich Petroleum Corporation's (NYSEMKT:GDP) Share Price?

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  • Do Institutions Own Goodrich Petroleum Corporation (NYSEMKT:GDP) Shares?
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    Shenkman Capital Management Inc Buys Cumulus Media Inc, Sells Goodrich Petroleum Corp

    New York, NY, based Investment company Shenkman Capital Management Inc (Current Portfolio) buys Cumulus Media Inc, sells Goodrich Petroleum Corp during the 3-months ended 2019Q2, according to the most recent filings of the investment company, Shenkman Capital Management Inc. Continue reading...

  • PR Newswire

    Goodrich Petroleum Announces Second Quarter 2019 Financial Results and an Operational Update

    HOUSTON , Aug. 6, 2019 /PRNewswire/ -- Goodrich Petroleum Corporation (NYSE American: GDP) (the "Company") today announced financial results and an operational update for the second quarter ended ...

  • Here's Why Goodrich Petroleum (NYSEMKT:GDP) Has A Meaningful Debt Burden
    Simply Wall St.

    Here's Why Goodrich Petroleum (NYSEMKT:GDP) Has A Meaningful Debt Burden

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  • Goodrich Petroleum (GDP) Earnings Expected to Grow: What to Know Ahead of Next Week's Release
    Zacks

    Goodrich Petroleum (GDP) Earnings Expected to Grow: What to Know Ahead of Next Week's Release

    Goodrich Petroleum (GDP) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.

  • Is Goodrich Petroleum Corporation’s (NYSEMKT:GDP) 13% ROCE Any Good?
    Simply Wall St.

    Is Goodrich Petroleum Corporation’s (NYSEMKT:GDP) 13% ROCE Any Good?

    Today we'll evaluate Goodrich Petroleum Corporation (NYSEMKT:GDP) to determine whether it could have potential as an...

  • Why We Like Goodrich Petroleum Corporation’s (NYSEMKT:GDP) 13% Return On Capital Employed
    Simply Wall St.

    Why We Like Goodrich Petroleum Corporation’s (NYSEMKT:GDP) 13% Return On Capital Employed

    Today we'll evaluate Goodrich Petroleum Corporation (NYSEMKT:GDP) to determine whether it could have potential as an...