Goodrich Petroleum (NYSEAMERICAN:GDP) Raised to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of Goodrich Petroleum (NYSEAMERICAN:GDP) from a sell rating to a hold rating in a research report released on Friday, Zacks.com reports.

According to Zacks, “Goodrich Petroleum Corporation is an exploration and production company. It engaged in the exploitation, development and production of natural gas and crude oil primarily in the Haynesville Shale in Northeast Texas and Northwest Louisiana, the Tuscaloosa Marine Shale in Eastern Louisiana and Southwestern Mississippi and the oil-window of the Eagle Ford Shale trend in South Texas. Goodrich Petroleum Corporation is based in Houston, Texas. “

GDP has been the topic of a number of other reports. SunTrust Banks lowered their price objective on Goodrich Petroleum from $16.00 to $14.00 and set a buy rating on the stock in a research note on Thursday, December 19th. Northland Securities restated a buy rating and issued a $13.00 price objective on shares of Goodrich Petroleum in a research note on Friday, November 8th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. The company has an average rating of Buy and an average target price of $13.38.

Goodrich Petroleum stock traded down $0.26 during midday trading on Friday, reaching $6.02. The stock had a trading volume of 12,100 shares, compared to its average volume of 20,384. Goodrich Petroleum has a 12 month low of $5.18 and a 12 month high of $15.24. The business has a 50-day moving average of $10.73.

Institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. grew its holdings in Goodrich Petroleum by 0.4% during the 2nd quarter. Vanguard Group Inc. now owns 433,569 shares of the company’s stock valued at $5,632,000 after buying an additional 1,757 shares in the last quarter. Northern Trust Corp grew its holdings in 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 buying an additional 1,759 shares in the last quarter. UBS Group AG grew its holdings in Goodrich Petroleum by 43.5% during the 4th quarter. UBS Group AG now owns 12,614 shares of the company’s stock valued at $127,000 after buying an additional 3,822 shares in the last quarter. Barclays PLC grew its holdings in Goodrich Petroleum by 102.9% during the 4th quarter. Barclays PLC now owns 9,087 shares of the company’s stock valued at $91,000 after buying an additional 4,609 shares in the last quarter. Finally, State Street Corp grew its holdings in Goodrich Petroleum by 3.4% during the 4th quarter. State Street Corp now owns 148,696 shares of the company’s stock valued at $1,493,000 after buying an additional 4,921 shares in 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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