Goodrich Petroleum Corp (NYSEAMERICAN:GDP) Receives $13.00 Consensus Price Target from Brokerages

Goodrich Petroleum Corp (NYSEAMERICAN:GDP) has received a consensus recommendation of “Buy” from the seven ratings firms that are covering the stock, MarketBeat reports. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $13.00.

A number of research firms have recently weighed in on GDP. Seaport Global Securities reaffirmed a “buy” rating on shares of Goodrich Petroleum in a research note on Thursday, October 10th. Zacks Investment Research downgraded Goodrich Petroleum from a “buy” rating to a “hold” rating in a research note on Saturday, November 2nd. Finally, Northland Securities reissued a “buy” rating and issued a $13.00 price target on shares of Goodrich Petroleum in a report on Friday, November 8th.

NYSEAMERICAN:GDP opened at $9.44 on Friday. The business’s 50-day simple moving average is $10.73 and its two-hundred day simple moving average is $12.09. Goodrich Petroleum has a 52 week low of $8.70 and a 52 week high of $15.24.

Large investors have recently modified their holdings of the stock. Bank of New York Mellon Corp increased its holdings in Goodrich Petroleum by 5.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 26,967 shares of the company’s stock valued at $351,000 after acquiring an additional 1,283 shares during the last quarter. Vanguard Group Inc. lifted its stake in Goodrich Petroleum by 0.4% in the 2nd quarter. Vanguard Group Inc. now owns 433,569 shares of the company’s stock worth $5,632,000 after purchasing an additional 1,757 shares in the last quarter. Northern Trust Corp boosted its holdings in shares of Goodrich Petroleum by 1.9% during the 2nd quarter. Northern Trust Corp now owns 94,276 shares of the company’s stock valued at $1,224,000 after purchasing an additional 1,759 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Goodrich Petroleum by 11.3% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 21,898 shares of the company’s stock valued at $285,000 after purchasing an additional 2,229 shares during the last quarter. Finally, Acadian Asset Management LLC boosted its holdings in shares of Goodrich Petroleum by 44.2% during the 2nd quarter. Acadian Asset Management LLC now owns 12,036 shares of the company’s stock valued at $156,000 after purchasing an additional 3,691 shares during the last quarter.

About Goodrich Petroleum

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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Analyst Recommendations for Goodrich Petroleum (NYSEAMERICAN:GDP)

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