Goodrich Petroleum Corp. Price Target Cut to $25.00 (GDP)
Stock analysts at MLV Capital lowered their target price on shares of Goodrich Petroleum Corp. (NYSE:GDP) from $35.00 to $25.00 in a report issued on Friday, Stock Ratings News reports. The firm currently has a “buy” rating on the stock. MLV Capital’s target price suggests a potential upside of 103.58% from the stock’s previous close.
A number of other firms have also recently commented on GDP. Analysts at Imperial Capital reiterated an “in-line” rating on shares of Goodrich Petroleum Corp. in a research note on Friday. They now have a $13.00 price target on the stock, down previously from $18.00. Separately, analysts at Macquarie downgraded shares of Goodrich Petroleum Corp. from a “neutral” rating to an “underperform” rating in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. Goodrich Petroleum Corp. has an average rating of “Buy” and an average price target of $26.22.
Shares of Goodrich Petroleum Corp. (NYSE:GDP) traded up 3.18% during mid-day trading on Friday, hitting $12.67. 4,985,818 shares of the company’s stock traded hands. Goodrich Petroleum Corp. has a 52 week low of $11.16 and a 52 week high of $28.55. The stock’s 50-day moving average is $16.49 and its 200-day moving average is $20.68. The company’s market cap is $465.6 million. Goodrich Petroleum Corp. also was the recipient of some unusual options trading activity on Wednesday. Investors bought 27,658 call options on the stock. This is an increase of 546% compared to the average daily volume of 4,282 call options.
Goodrich Petroleum Corp. (NYSE:GDP) last posted its quarterly earnings results on Friday, February 28th. The company reported ($0.57) earnings per share for the quarter, missing the analysts’ consensus estimate of ($0.48) by $0.09. The company had revenue of $50.60 million for the quarter, compared to the consensus estimate of $62.74 million. Analysts expect that Goodrich Petroleum Corp. will post $-2.39 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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