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Weakness Seen in Goodrich Petroleum (GDP): Stock Tanks 12.5%

Goodrich Petroleum Corp. (GDP) saw a big move last session, as the company’s shares fell by over 12% on the day. The move came on pretty good volume too with far more shares changing hands than in a normal session. This continues the recent downtrend for GDP, as the stock is now down nearly 33% since Aug 29.

This slump shouldn’t be too much of a surprise to investors, as the independent oil and natural gas company has seen 2 negative revisions in the past few weeks and its current year earnings consensus has moved lower over the last 30 days. This suggests there may be more trouble down the road. So make sure to keep an eye on this stock going forward to see if this recent slump will continue, as the earnings picture definitely suggests that this might be the case.

GDP currently has a Zacks Rank #3 (Hold) while its Earnings ESP is positive.

Some better-ranked stocks in the same sector include Northern Oil and Gas, Inc. (NOG), WPX Energy, Inc. (WPX) and Warren Resources Inc. (WRES). Northern Oil and Gas and WPX Energy sport a Zacks Rank #1 (Strong Buy), whereas Warren Resources holds a Zacks Rank #2 (Buy).

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GOODRICH PETE CORP (GDP): Free Stock Analysis Report

NORTHERN OIL AND GAS INC (NOG): Free Stock Analysis Report

WPX ENERGY INC (WPX): Free Stock Analysis Report

WARREN RESOURCES INC (WRES): Free Stock Analysis Report


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