Stock Traders Purchase High Volume of Goodrich Petroleum Corp. Put Options (GDP)
Goodrich Petroleum Corp. (NYSE:GDP) was the recipient of unusually large options trading activity on Friday. Stock traders purchased 9,426 put options on the stock, AmericanBankingNews.com reports. This represents an increase of approximately 547% compared to the typical volume of 1,456 put options.
GDP has been the subject of a number of recent research reports. Analysts at Imperial Capital cut their price target on shares of Goodrich Petroleum Corp. from $22.00 to $18.00 in a research note on Friday, January 10th. They now have an “in-line” rating on the stock. Finally, analysts at Howard Weil upgraded shares of Goodrich Petroleum Corp. from an “outperform” rating to a “focus list” rating in a research note on Wednesday, January 8th. Four analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $27.22.
Shares of Goodrich Petroleum Corp. (NYSE:GDP) traded down 5.50% during mid-day trading on Friday, hitting $17.00. The stock had a trading volume of 4,434,364 shares. Goodrich Petroleum Corp. has a 52 week low of $11.16 and a 52 week high of $28.55. The stock has a 50-day moving average of $16.78 and a 200-day moving average of $20.82. The company’s market cap is $624.7 million.
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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