Watch stocks you care about
The single, easiest way to keep track of all the stocks that matter...
Your own personalized stock watchlist!
It's a 100% FREE Motley Fool service...
Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Shares of oil and gas producer Goodrich Petroleum (NYSE: GDP ) fell 16% today after the company released earnings.
So what: In the third quarter, revenue fell 17% to $46.0 million, and the adjusted loss per share was $0.23. Analysts had expected $66.6 million in revenue and a loss of $0.05 per share.
Now what: There aren't a lot of positive developments to point to for Goodrich. Oil production did increase 17% sequentially, but total production fell 7% on the same basis. I don't see any reason to be a buyer here, with the company continuing to rack up big losses quarter after quarter.
Interested in more info on Goodrich Petroleum? Add it to your watchlist by clicking here.