Goodrich Petroleum Corp (GDP) Receives $18.25 Average Target Price from Analysts

Goodrich Petroleum Corp (NYSE:GDP) has earned a consensus recommendation of “Buy” from the seven research firms that are currently covering the firm, MarketBeat Ratings reports. Seven research analysts have rated the stock with a buy rating. The average 1-year price objective among analysts that have covered the stock in the last year is $16.80.

A number of analysts have commented on GDP shares. Northland Securities started coverage on shares of Goodrich Petroleum Corp in a report on Wednesday, June 28th. They set an “outperform” rating and a $21.00 target price for the company. Capital One Financial Corporation started coverage on shares of Goodrich Petroleum Corp in a report on Tuesday, July 11th. They set an “overweight” rating for the company. Zacks Investment Research lowered shares of Goodrich Petroleum Corp from a “hold” rating to a “sell” rating in a report on Tuesday, July 25th. Eurobank EFG started coverage on shares of Goodrich Petroleum Corp in a report on Tuesday, October 3rd. They set a “buy” rating and a $16.00 target price for the company. Finally, EuroPacific Canada started coverage on shares of Goodrich Petroleum Corp in a report on Tuesday, October 3rd. They set a “buy” rating and a $16.00 target price for the company.

Shares of Goodrich Petroleum Corp (GDP) traded up 0.10% during trading on Tuesday, reaching $10.25. The company’s stock had a trading volume of 59,510 shares. Goodrich Petroleum Corp has a 12 month low of $8.20 and a 12 month high of $17.25. The company’s 50-day moving average is $10.47 and its 200-day moving average is $12.76. The company has a market capitalization of $108.01 million and a P/E ratio of 5.81.

Goodrich Petroleum Corp (NYSE:GDP) last posted its quarterly earnings data on Friday, August 4th. The oil and natural gas company reported ($0.13) earnings per share for the quarter, topping the consensus estimate of ($0.21) by $0.08. The company had revenue of $12.50 million during the quarter, compared to the consensus estimate of $10.70 million. The business’s revenue was down 42.9% on a year-over-year basis. On average, analysts forecast that Goodrich Petroleum Corp will post ($0.77) EPS for the current fiscal year.

ILLEGAL ACTIVITY WARNING: This story was originally posted by Transcript Daily and is the sole property of of Transcript Daily. If you are accessing this story on another publication, it was copied illegally and reposted in violation of United States and international copyright and trademark legislation. The legal version of this story can be accessed at https://transcriptdaily.com/2017/10/09/goodrich-petroleum-corp-gdp-receives-18-25-average-target-price-from-analysts.html.

In other Goodrich Petroleum Corp news, major shareholder Franklin Resources Inc sold 2,689 shares of Goodrich Petroleum Corp stock in a transaction on Monday, September 25th. The shares were sold at an average price of $9.66, for a total transaction of $25,975.74. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Schneider Capital Management Corp acquired a new position in shares of Goodrich Petroleum Corp in the 2nd quarter valued at $274,000. Parkwood LLC grew its holdings in shares of Goodrich Petroleum Corp by 89.9% in the 2nd quarter. Parkwood LLC now owns 85,471 shares of the oil and natural gas company’s stock valued at $1,039,000 after buying an additional 40,471 shares during the period. Ameriprise Financial Inc. acquired a new position in shares of Goodrich Petroleum Corp in the 2nd quarter valued at $1,387,000. Penn Capital Management Co. Inc. acquired a new position in shares of Goodrich Petroleum Corp in the 2nd quarter valued at $1,701,000. Finally, Raffles Associates LP acquired a new position in shares of Goodrich Petroleum Corp in the 2nd quarter valued at $2,316,000.

Goodrich Petroleum Corp Company Profile

Goodrich Petroleum Corporation is an independent oil and natural gas company. The Company is engaged in the exploration, development and production of oil and natural gas on properties primarily in Southwest Mississippi and Southeast Louisiana, which includes the Tuscaloosa Marine Shale Trend (TMS); Northwest Louisiana and East Texas, which includes the Haynesville Shale Trend, and South Texas, which includes the Eagle Ford Shale Trend.

Analyst Recommendations for Goodrich Petroleum Corp (NYSE:GDP)

Receive News & Ratings for Goodrich Petroleum Corp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Goodrich Petroleum Corp and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply