Brokerages Set Goodrich Petroleum Corp (NYSEAMERICAN:GDP) Price Target at $13.00

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Goodrich Petroleum Corp (NYSEAMERICAN:GDP) has earned a consensus recommendation of “Buy” from the eight analysts that are currently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and five have assigned a buy recommendation to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $13.00.

GDP has been the topic of a number of research analyst reports. Northland Securities initiated coverage on Goodrich Petroleum in a report on Sunday, September 1st. They set a “buy” rating and a $13.00 target price on the stock. Seaport Global Securities reaffirmed a “buy” rating on shares of Goodrich Petroleum in a report on Thursday, October 10th. Finally, Zacks Investment Research downgraded Goodrich Petroleum from a “hold” rating to a “sell” rating in a report on Tuesday, October 8th.

NYSEAMERICAN:GDP traded up $0.36 during trading hours on Thursday, reaching $9.88. 28,082 shares of the stock were exchanged, compared to its average volume of 19,013. The firm has a 50 day simple moving average of $10.73 and a 200-day simple moving average of $12.09. Goodrich Petroleum has a 52 week low of $8.80 and a 52 week high of $15.24.

Goodrich Petroleum (NYSEAMERICAN:GDP) last released its earnings results on Tuesday, August 6th. The company reported $0.34 EPS for the quarter, topping analysts’ consensus estimates of $0.25 by $0.09. The firm had revenue of $31.88 million for the quarter, compared to the consensus estimate of $34.46 million.

Large investors have recently added to or reduced their stakes in the business. Acadian Asset Management LLC lifted its holdings in shares of Goodrich Petroleum by 44.2% in the 2nd quarter. Acadian Asset Management LLC now owns 12,036 shares of the company’s stock worth $156,000 after purchasing an additional 3,691 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Goodrich Petroleum by 11.3% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 21,898 shares of the company’s stock worth $285,000 after purchasing an additional 2,229 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of 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 worth $351,000 after purchasing an additional 1,283 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in shares of Goodrich Petroleum by 7.4% in the 2nd quarter. Renaissance Technologies LLC now owns 114,500 shares of the company’s stock worth $1,487,000 after purchasing an additional 7,900 shares during the last quarter. Finally, Northern Trust Corp lifted its holdings in shares of Goodrich Petroleum by 1.9% in the 2nd quarter. Northern Trust Corp now owns 94,276 shares of the company’s stock worth $1,224,000 after purchasing an additional 1,759 shares during the last quarter.

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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Analyst Recommendations for Goodrich Petroleum (NYSEAMERICAN:GDP)

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