We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Here's Why Goodrich (GDP) Is an Attractive Investment Bet Now
Read MoreHide Full Article
Goodrich Petroleum Corporation has witnessed an upward estimate revision for 2021 and 2022 earnings in the past 30 days. Currently, the upstream energy firm carries a Zacks Rank #2 (Buy).
Factors Favoring the Stock
The company is a leading upstream energy firm with operations spread across prolific natural gas and oil resources like Haynesville Shale, the Tuscaloosa Marine Shale and the Eagle Ford Shale.
Notably, in the core of Haynesville Shale area in Caddo Parish, LA, the company made an acquisition of additional 2,000 net acres through the December quarter of 2020. With this buyout, the company’s total net acres from Haynesville Shale now stand at 26,000 net acres. Importantly, its long-term production outlook seems bright with more than 12 years of inventory of core drilling locations in Haynesville Shale.
It is to be noted that the company’s majority production comprises natural gas. Thus, it is well positioned to gain this year as analysts are expecting the residential and industrial natural gas consumption to grow with economic recovery.
Remarkably, the U.S. Energy Information Administration (EIA) predicts the residential consumption of natural gas to average 13.1 billion cubic feet per day (Bcf/d) in 2021, suggesting an increment of 0.4 Bcf/d from the 2020 reported figure. EIA also projects industrial consumption to average 23.8 Bcf/d in 2021, suggesting a gain of 1.3 Bcf/d from the 2020 reported number, courtesy of the reopening of manufacturing activities.
Diamondback is likely to see earnings growth of 112.5% in 2021.
Matador is likely to see earnings growth of 300% for the ongoing year.
Magnolia Oil & Gas has witnessed an upward estimate revision for 2021 earnings in the past 30 days.
These Stocks Are Poised to Soar Past the Pandemic
The COVID-19 outbreak has shifted consumer behavior dramatically, and a handful of high-tech companies have stepped up to keep America running. Right now, investors in these companies have a shot at serious profits. For example, Zoom jumped 108.5% in less than 4 months while most other stocks were sinking.
Our research shows that 5 cutting-edge stocks could skyrocket from the exponential increase in demand for “stay at home” technologies. This could be one of the biggest buying opportunities of this decade, especially for those who get in early.
Image: Bigstock
Here's Why Goodrich (GDP) Is an Attractive Investment Bet Now
Goodrich Petroleum Corporation has witnessed an upward estimate revision for 2021 and 2022 earnings in the past 30 days. Currently, the upstream energy firm carries a Zacks Rank #2 (Buy).
Factors Favoring the Stock
The company is a leading upstream energy firm with operations spread across prolific natural gas and oil resources like Haynesville Shale, the Tuscaloosa Marine Shale and the Eagle Ford Shale.
Notably, in the core of Haynesville Shale area in Caddo Parish, LA, the company made an acquisition of additional 2,000 net acres through the December quarter of 2020. With this buyout, the company’s total net acres from Haynesville Shale now stand at 26,000 net acres. Importantly, its long-term production outlook seems bright with more than 12 years of inventory of core drilling locations in Haynesville Shale.
It is to be noted that the company’s majority production comprises natural gas. Thus, it is well positioned to gain this year as analysts are expecting the residential and industrial natural gas consumption to grow with economic recovery.
Remarkably, the U.S. Energy Information Administration (EIA) predicts the residential consumption of natural gas to average 13.1 billion cubic feet per day (Bcf/d) in 2021, suggesting an increment of 0.4 Bcf/d from the 2020 reported figure. EIA also projects industrial consumption to average 23.8 Bcf/d in 2021, suggesting a gain of 1.3 Bcf/d from the 2020 reported number, courtesy of the reopening of manufacturing activities.
Goodrich Petroleum Corporation Price
Goodrich Petroleum Corporation price | Goodrich Petroleum Corporation Quote
Other Stocks to Consider
Other prospective players in the energy space include Diamondback Energy, Inc. (FANG - Free Report) , Matador Resources Company (MTDR - Free Report) and Magnolia Oil & Gas Corporation (MGY - Free Report) , all stocks sporting a Zacks Rank #1 (Strong Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
Diamondback is likely to see earnings growth of 112.5% in 2021.
Matador is likely to see earnings growth of 300% for the ongoing year.
Magnolia Oil & Gas has witnessed an upward estimate revision for 2021 earnings in the past 30 days.
These Stocks Are Poised to Soar Past the Pandemic
The COVID-19 outbreak has shifted consumer behavior dramatically, and a handful of high-tech companies have stepped up to keep America running. Right now, investors in these companies have a shot at serious profits. For example, Zoom jumped 108.5% in less than 4 months while most other stocks were sinking.
Our research shows that 5 cutting-edge stocks could skyrocket from the exponential increase in demand for “stay at home” technologies. This could be one of the biggest buying opportunities of this decade, especially for those who get in early.
See the 5 high-tech stocks now>>