Goodrich Petroleum Corp. Now Covered by Analysts at Goldman Sachs Group Inc. (GDP)
Analysts at Goldman Sachs Group Inc. initiated coverage on shares of Goodrich Petroleum Corp. (NYSE:GDP) in a research report issued to clients and investors on Tuesday, TheFlyOnTheWall.com reports. The firm set a “neutral” rating on the stock.
Other equities research analysts have also recently issued reports about the stock. Analysts at Canaccord Genuity reiterated a “buy” rating on shares of Goodrich Petroleum Corp. (NYSE:GDP) in a research note to investors on Monday, September 16th. They now have a $27.00 price target on the stock. Separately, 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, September 16th. They now have a “buy” rating on the stock. Finally, 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.
Four analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Goodrich Petroleum Corp. presently has an average rating of “Buy” and an average target price of $25.80.
Shares of Goodrich Petroleum Corp. (NYSE:GDP) opened at 25.57 on Tuesday. Goodrich Petroleum Corp. has a 52-week low of $7.77 and a 52-week high of $27.65. The stock’s 50-day moving average is $22.86 and its 200-day moving average is $16.21. The company’s market cap is $939.1 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. Analysts expect that Goodrich Petroleum Corp. will post $-2.61 EPS for the current fiscal year.
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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