Here’s Who Picked Goodrich Petroleum Corp (NYSEMKT:GDP) Shares

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In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), Goodrich Petroleum Corp (NYSEMKT:GDP) reported that Franklin Resources Inc. has picked up 5,087,202 of common stock as of 2017-06-02.

The acquisition brings the aggregate amount owned by Franklin Resources Inc. to a total of 5,087,202 representing less than 50.5% stake in the company.

For those not familiar with the company, Goodrich Petroleum Corporation is an independent exploration and production company engaged in the exploitation, development and production of natural gas and crude oil primarily in the Haynesville Shale in Northeast Texas and Northwest Louisiana, the Tuscaloosa Marine Shale (“TMS”) in Eastern Louisiana and Southwestern Mississippi, and the oil-window of the Eagle Ford Shale trend in South Texas.  Goodrich Petroleum Corporation is publically traded and listed on the New York Stock Exchange under the symbol GDP.

A glance at Goodrich Petroleum Corp (NYSEMKT:GDP)’s key stats reveals a current market capitalization of 111.13 Million based on 9.11 Million shares outstanding and a price at last close of $11.98 per share.

Looking at insider activity, there are a few transactions worth noting.

Specifically, on 2016-12-07, Turnham picked up 19 at a purchase price of $5.50. This brings their total holding to 375,019 as of the date of the filing.

On the sell side, the most recent transaction saw Franklin unload 113,165 shares at a sale price of $11.90. This brings their total holding to 4,130,170.

It’s possible to gauge a company’s potential by tracking the activity of its major holders, as well as checking in on insider activity such as those transactions listed above. We’ll be keeping an eye on Goodrich Petroleum Corp (NYSEMKT:GDP) as things move forward to see if its progress aligns with these transactions.

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