Goodrich Petroleum Corporation (NYSE:GDP) reported a lower capital outlay budget for fiscal year 2013 as the Houston, Texas based company plans to lower natural gas production and concentrate on oil in either the Eagle Ford Shale or the Tuscaloosa Marine Shale.
Goodrich reported that it set its capital expenditure budget for fiscal year 2013 at $175 million to $200 million, evaluated against its projected 2012 budget of almost $250 million.
The oil and gas producer declared $115 million to $137 million will be paid to oil-directed activity in the Eagle Ford Shale in South Texas.
The planned expenditure in the Tuscaloosa Marine Shale will be in the range of $25 million to $50 million.
Its competitors include Abraxas Petroleum Corp. (NASDAQ:AXAS) that surged 1.75% to $2.33 with the total traded volume of 56,806 shares and Anadarko Petroleum Corporation (NYSE:APC) that dropped -0.05% to $76.02 with the total traded volume of 245,789 shares.
Other Basic Materials stocks with bullish trend include PetroleoBrasileiroPetrobras SA (ADR) (NYSE:PBR) up 1.53% to $19.90, Freeport-McMoRan Copper & Gold Inc. (NYSE:FCX) up 0.28% to $35.27 and Alpha Natural Resources, Inc. (NYSE:ANR) up 2.08% to $9.80, whereas with bearish trend include Vale SA (ADR) (NYSE:VALE) down -0.70% to $21.34, MolycorpInc (NYSE:MCP) down -0.10% to $10.38 and Exxon Mobil Corporation (NYSE:XOM) down -0.14% to $88.59.
Goodrich Petroleum Corporation (NYSE:GDP) stock in current session held volume of 332,758 shares as compare to its average volume of 1.09 million shares. The stock after opening at $9.35 hit high price of $9.35 and then trading at $9.24by scoring-3.25%.
As the revenue measures GDPgenerated revenue of 18.04million in the following twelve months income of -$36.88 million. The Company showed a negative -16.75% in the net profit margin and in decline to in its operating margin which remained -7.32%. Company’s annual sales growth for the past five year was -17.25%.
The stock showed weekly upbeat performance of 6.82% which was maintained for the month at 5.99%. Likewise the negative performance for the quarter was recorded as -24.45% and for the year was -29.62% while the YTD performance remained at +2.47%.
The GDP past twelve months price to sales ratio was 1.89 and price to cash ratio remained 221.35. As far as the returns are concern, the GDP return on equity was recorded as -24.75% and decreased -4.22% return on investment while its return on asset stayed at -3.62%.
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