Goodrich Petroleum Corp. Price Target Lowered to $30.00 at Canaccord Genuity (GDP)
Research analysts at Canaccord Genuity dropped their price target on shares of Goodrich Petroleum Corp. (NYSE:GDP) from $31.00 to $30.00 in a report released on Monday, American Banking & Market News reports. The firm currently has a “buy” rating on the stock. Canaccord Genuity’s target price would indicate a potential upside of 10.21% from the stock’s previous close.
Shares of Goodrich Petroleum Corp. (NYSE:GDP) opened at 27.37 on Monday. Goodrich Petroleum Corp. has a 52 week low of $7.77 and a 52 week high of $28.55. The stock has a 50-day moving average of $25.71 and a 200-day moving average of $17.69. The company’s market cap is $1.005 billion.
Goodrich Petroleum Corp. (NYSE:GDP) last released its 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.
A number of other analysts have also recently weighed in on GDP. Analysts at Imperial Capital initiated coverage on shares of Goodrich Petroleum Corp. in a research note to investors on Wednesday, October 9th. They set an “in-line” rating and a $27.00 price target on the stock. Separately, analysts at Goldman Sachs Group Inc. initiated coverage on shares of Goodrich Petroleum Corp. in a research note to investors on Tuesday, September 24th. They set a “neutral” rating on the stock. Finally, analysts at Stifel Nicolaus raised their price target on shares of Goodrich Petroleum Corp. 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. Four analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $26.12.
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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