Goodrich Petroleum Corp. Given New $35.00 Price Target at Stifel Nicolaus (GDP)
Research analysts at Stifel Nicolaus raised their price target on shares of Goodrich Petroleum Corp. (NYSE:GDP) from $24.00 to $35.00 in a report released on Monday, ARN reports. The firm currently has a “buy” rating on the stock. Stifel Nicolaus’ target price suggests a potential upside of 28.11% from the company’s current price.
A number of other analysts have also recently weighed in on GDP. Analysts at SunTrust raised their price target on shares of Goodrich Petroleum Corp. (NYSE:GDP) from $27.50 to $40.00 in a research note to investors on Monday, September 9th. They now have a “buy” rating on the stock. Separately, analysts at Canaccord Genuity set a $27.00 price target on shares of Goodrich Petroleum Corp. (NYSE:GDP) in a research note to investors on Thursday, September 5th. They now have a “buy” rating on the stock. Finally, analysts at RBC Capital reiterated a “buy” rating on shares of Goodrich Petroleum Corp. (NYSE:GDP) in a research note to investors on Tuesday, September 3rd. They now have a $27.00 price target on the stock.
Three analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Goodrich Petroleum Corp. presently has a consensus rating of “Buy” and a consensus target price of $25.80.
Shares of Goodrich Petroleum Corp. (NYSE:GDP) opened at 27.32 on Monday. Goodrich Petroleum Corp. has a one year low of $7.77 and a one year high of $27.65. The stock has a 50-day moving average of $21.58 and a 200-day moving average of $15.62. The company’s market cap is $1.003 billion.
Goodrich Petroleum Corp. (NYSE:GDP) last announced its earnings results on Tuesday, August 6th. The company reported ($0.63) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.61) by $0.02. The company had revenue of $48.50 million for the quarter, compared to the consensus estimate of $58.00 million. During the same quarter in the previous year, the company posted ($0.21) earnings per share. The company’s revenue for the quarter was up 17.4% on a year-over-year basis. Analysts expect that Goodrich Petroleum Corp. will post $-2.61 EPS for the current fiscal year.
In other Goodrich Petroleum Corp. news, Director Henry Goodrich sold 4,000 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $25.04, for a total transaction of $100,160.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.
Goodrich Petroleum Corporation is an independent oil and natural gas company engaged in exploration, development and production of oil and natural gas on properties primarily in Northwest Louisiana, East Texas and South Texas.
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