Goodrich Petroleum (GDP) Releases Quarterly Earnings, Misses Estimates By $0.09 EPS
Goodrich Petroleum (NYSE:GDP) released its earnings data on Friday. The company reported ($0.57) earnings per share for the quarter, missing the analysts’ consensus estimate of ($0.48) by $0.09, Stock Ratings Network.com reports. The company had revenue of $50.60 million for the quarter, compared to the consensus estimate of $62.74 million.
Shares of Goodrich Petroleum (NYSE:GDP) opened at 12.92 on Friday. Goodrich Petroleum 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 $16.27 and a 200-day moving average of $20.61. The company’s market cap is $474.7 million.
Several analysts have recently commented on the stock. Analysts at Canaccord Genuity cut their price target on shares of Goodrich Petroleum from $30.00 to $24.00 in a research note on Monday. They now have a “buy” rating on the stock. On the ratings front, analysts at MLV Capital cut their price target on shares of Goodrich Petroleum from $35.00 to $25.00 in a research note on Friday, February 21st. They now have a “buy” rating on the stock. Finally, analysts at Imperial Capital reiterated an “in-line” rating on shares of Goodrich Petroleum in a research note on Friday, February 21st. They now have a $13.00 price target on the stock, down previously from $18.00. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $25.82.
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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