Goodrich Petroleum Corp. Receives “Buy” Rating from Canaccord Genuity (GDP)
Goodrich Petroleum Corp. (NYSE:GDP)‘s stock had its “buy” rating reaffirmed by analysts at Canaccord Genuity in a research report issued to clients and investors on Monday, American Banking News reports. They currently have a $27.00 price objective on the stock. Canaccord Genuity’s target price would indicate a potential downside of 1.17% from the company’s current price.
GDP has been the subject of a number of other recent research reports. Analysts at Stifel Nicolaus raised their price target on shares of Goodrich Petroleum Corp. (NYSE:GDP) from $24.00 to $35.00 in a research note to investors on Monday. They now have a “buy” rating on the stock. Separately, 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. 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 research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $25.80.
Goodrich Petroleum Corp. (NYSE:GDP) traded down 2.38% during mid-day trading on Monday, hitting $26.67. The stock had a trading volume of 240,495 shares. Goodrich Petroleum Corp. has a 1-year low of $7.77 and a 1-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 $979.5 million.
Goodrich Petroleum Corp. (NYSE:GDP) last issued its quarterly earnings data on Tuesday, August 6th. The company reported ($0.63) earnings per share for the quarter, missing the analysts’ 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 last year, the company posted ($0.21) earnings per share. Goodrich Petroleum Corp.’s revenue was up 17.4% compared to the same quarter last year. On average, analysts predict that Goodrich Petroleum Corp. will post $-2.61 earnings per share for the current fiscal year.
In other Goodrich Petroleum Corp. news, Director Henry Goodrich sold 4,000 shares of the company’s stock on the open market in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $25.04, for a total value of $100,160.00. The transaction was disclosed in a legal filing with the SEC, which is available at 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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