Zacks: Goodrich Petroleum Corporation (NASDAQ:GDP) Given Consensus Rating of “Strong Buy” by Brokerages

Shares of Goodrich Petroleum Corporation (NASDAQ:GDP) have earned a consensus broker rating score of 1.43 (Strong Buy) from the seven brokers that cover the stock, Zacks Investment Research reports. One research analyst has rated the stock with a hold recommendation, one has issued a buy recommendation and five have assigned a strong buy recommendation to the company. Goodrich Petroleum’s rating score has declined by 3.6% from three months ago as a result of a number of analysts’ upgrades and downgrades.

Analysts have set a 1 year consensus price target of $17.29 for the company and are forecasting that the company will post $0.39 earnings per share for the current quarter, according to Zacks. Zacks has also given Goodrich Petroleum an industry rank of 181 out of 256 based on the ratings given to its competitors.

Separately, B. Riley reaffirmed a “buy” rating on shares of Goodrich Petroleum in a report on Monday, May 20th.

Shares of Goodrich Petroleum stock traded down $0.46 on Wednesday, reaching $9.80. The company’s stock had a trading volume of 15,079 shares, compared to its average volume of 20,449. Goodrich Petroleum has a 52 week low of $9.42 and a 52 week high of $15.50. The company’s fifty day moving average price is $11.49.

Goodrich Petroleum Company Profile

Goodrich Petroleum Corporation, an independent oil and natural gas company, engages in the exploration, development, and production of oil and natural gas. It primarily holds interests in the Haynesville Shale Trend in northwest Louisiana and East Texas; Tuscaloosa Marine Shale Trend located in southwest Mississippi and southeast Louisiana; and the Eagle Ford Shale Trend situated in South Texas.

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