SAC Capital Advisors'
has sparked intrigue lately due to his recent bullish moves on
some of his shareholdings in energy stocks. His most recent one:
a 1141.47% addition to his stake of independent oil and gas
exploration and production company, Goodrich Petroleum Corp. (
After the purchase, Cohen's ownership grew to 5.1%, with a
current holding of almost 1.9 million shares. In the second
quarter, he reported 150,400 Goodrich shares.
Since the start of October, Cohen has also increased in other
energy stocks such as Plain Exploration and Production Company (
) and Superior Energy Services Inc. (
In the third quarter, some of Cohen's reported big energy stock
purchases included Bill Barrett Corp. (
), Forest Oil Corp. (
) and Genon Energy Inc. (
Based in Texas, Goodrich Petroleum reported $4.7 million in net
losses for the second quarter of this year, according to its
quarterly fiscal release. With a reported long-term debt of $627
million in the second quarter, its net income has declined $29.6
million in the past 12 months, according to
GuruFocus 10-Year Financials
Its adjusted EBITDAX (earnings before interest, taxes,
depreciation, depletion, amortization and exploration expenses)
rose 12 percent in the quarter to $45.2 million, and its
discretionary cash flow also increased 16 percent for the quarter
to 34.8 million.
The company will release its third quarter 2012 earnings on
Tuesday, Nov. 6 in a news release and Wednesday, Nov. 7 at 11
a.m. in a conference call.
Altogether GuruFocus provides Goodrich Petroleum a Financial
Strength rank of 2 out of 10, a Profitability and Growth rank of
2 out of 10 and a Business Predictability rank of 1 out of 5
Also with an unstable gross margin trendline, GuruFocus places
Goodrich Petroleum under watch, due to its five Severe Warning
Signs indicating poor financial strength, an Altman Z-Score in
the distress zone and an extremely low interest coverage. View
all of Goodrich Petroleum's warning signs details here.
Currently trading at $12.48 per share, Goodrich has a market cap
of $450.5 million, a P/B ratio of 3.6 and a P/S ratio of 2.2.
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Steven Cohen Boosts State in Two HoldingsAbout GuruFocus:
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