Goodrich Petroleum Corp. Price Target Lowered to $18.00 at Imperial Capital (GDP)
Equities researchers at Imperial Capital lowered their price objective on shares of Goodrich Petroleum Corp. (NYSE:GDP) from $22.00 to $18.00 in a research report issued on Friday, Stock Ratings Network.com reports. The firm currently has an “in-line” rating on the stock. Imperial Capital’s target price suggests a potential upside of 8.30% from the stock’s previous close.
Shares of Goodrich Petroleum Corp. (NYSE:GDP) traded down 3.61% on Friday, hitting $16.02. The stock had a trading volume of 2,097,719 shares. Goodrich Petroleum Corp. has a 1-year low of $9.14 and a 1-year high of $28.55. The stock has a 50-day moving average of $17.61 and a 200-day moving average of $20.31. The company’s market cap is $588.7 million.
Goodrich Petroleum Corp. (NYSE:GDP) last issued its quarterly earnings data on Tuesday, November 5th. The company reported ($0.54) earnings per share for the quarter, beating the analysts’ consensus estimate of ($0.85) by $0.31. The company had revenue of $57.20 million for the quarter, compared to the consensus estimate of $59.40 million. During the same quarter last year, the company posted ($0.23) earnings per share. Goodrich Petroleum Corp.’s revenue was up 24.3% compared to the same quarter last year. On average, analysts predict that Goodrich Petroleum Corp. will post $-2.38 earnings per share for the current fiscal year.
A number of other analysts have also recently weighed in on GDP. Analysts at Howard Weil upgraded shares of Goodrich Petroleum Corp. from an “outperform” rating to a “focus list” rating in a research note to investors on Wednesday. Separately, analysts at KeyCorp upgraded shares of Goodrich Petroleum Corp. from a “hold” rating to a “buy” rating in a research note to investors on Monday. Finally, analysts at Northland Securities initiated coverage on shares of Goodrich Petroleum Corp. in a research note to investors on Tuesday, December 10th. They set an “outperform” rating and a $30.00 price target on the stock. Four analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. Goodrich Petroleum Corp. presently has an average rating of “Buy” and an average price target of $27.22.
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.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.