Goodrich Petroleum (GDP) Q4 Disappoints

Goodrich Petroleum Corp. (GDP) shares are up 1.20% to $4.29  in pre-market trading Friday following the company’s fourth quarter earnings results.

The oil and natural gas producer reported earnings of ($0.47) per share on revenues of $48.6 million, down 4.0% from a year ago. Analysts were expecting EPS of ($0.45) on revenues of $58.53 million. For the full-year 2014, the company reported that its loss widened to $353.13 million, or $8.62 per share. Revenue was reported as $208.55 million.

As far as year-end reserves, the company’s proved oil and natural gas reserves as of December 31, 2014 totaled 273.7 Bcfe, versus 452.2 Bcfe in the prior year period. Year-end reserves were comprised of 59.3% oil, 38.3% natural gas and 2.4% natural gas liquids.

On valuation measures, Goodrich Petroleum Corp. shares, which currently have an average 3-month trading volume of 4 million shares, trade at a trailing-12 P/S  of 0.99 and a P/E to growth ratio of (0.14). The median Wall Street price target on the name is $5.00 with a high target of $15.00. Currently ticker boasts 14 ‘Buy’ endorsements, compared to 4 ’Holds’ and no ‘Sell’.

Profitability-wise, GDP has a t-12 profit and operating margin of (71.62%) and (45.44%), respectively. The $188.40 million market cap company reported less than one million $ in cash vs. $568.62 million in debt in its most recent quarter.

GDP currently prints a one year loss of about 67% and a year-to-date loss of around 4.50%.

The chart below shows where the equity has traded over the last 52 weeks.

Goodrich Petroleum Corp. is an independent Houston, Texas-based oil and natural gas company listed on the NYSE.

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