This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

5 Stocks With Big Insider Buying

Goodrich Petroleum

Content on this page requires a newer version of Adobe Flash Player.

Get Adobe Flash player

One energy player that insiders are finding value in here is Goodrich Petroleum ( GDP), which explores, exploits, develops and produces oil and natural gas properties in East Texas and Northwest Louisiana. Insiders are buying this stock into major strength, since shares are up a whopping 130% so far in 2013.

>>5 Dividend Stocks That Want to Pay You More

Goodrich Petroleum has a market cap of $786 million and an enterprise value of $1.40 billion. This stock trades at a reasonable valuation, with a price-to-sales of 4.48 and a price-to-book of 7.25. Its estimated growth rate for this year is -190%, and for next year it's pegged at 37.9%. This is not a cash-rich company, since the total cash position on its balance sheet is $2.65 million and its total debt is $554.11 million.

The chairman of the board just bought 40,000 shares, or about $1 million worth of stock, at $25 per share. Another director also just bought shares 70,000, or about $1.75 million worth of stock, at $25 per share.

From a technical perspective, GDP is currently trending above both its 50-day and 200-day moving averages, which is bullish. This stock has been uptrending very strong for the last two months, with shares soaring higher from its low of $11.16 to its recent high of $24 a share. During that uptrend, shares of GDP have been consistently making higher lows and higher highs, which is bullish technical price action. That move now has GDP trending within range of triggering a near-term breakout trade.

If you're bullish on GDP, then look for long-biased trades as long as this stock is trending some near-term support levels at $20.10 or above $19, and then once it breaks out above some near-term overhead resistance levels at $23 to its 52-week high at $24.01 a share high volume. Look for a sustained move or close above those levels with volume that hits near or above its three-month average volume of 1.07 million shares. If that breakout hits, then GDP will set up to enter new 52-week-high territory, which is bullish technical price action. Some possible upside targets off that move are $30 to $33 a share.
5 of 6

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
GDP $0.04 6.98%
AXDX $12.64 -2.50%
HALO $10.46 -3.60%
GMCR $91.67 -0.30%
IDRA $1.68 0.00%


Chart of I:DJI
DOW 17,715.05 -176.11 -0.98%
S&P 500 2,059.19 -22.24 -1.07%
NASDAQ 4,760.6130 -56.9810 -1.18%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs