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Equities research analysts at MLV & Co
upped their target price on shares of Goodrich Petroleum (NYSE:GDP) from $27.00 to $32.00 in a research note issued to investors on Tuesday, Analyst Ratings Network.com reports. The firm currently has a “buy” rating on the stock. MLV & Co
‘s price target points to a potential upside of 32.01% from the stock’s previous close.

Goodrich Petroleum (NYSE:GDP) traded up 1.71% on Tuesday, hitting $24.655. 1,469,556 shares of the company’s stock traded hands. 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 $19.69 and a 200-day moving average of $18.40. The company’s market cap is $1.092 billion.

Goodrich Petroleum (NYSE:GDP) last posted its quarterly earnings results on Tuesday, May 6th. The company reported ($0.54) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.46) by $0.08. The company had revenue of $51.80 million for the quarter, compared to the consensus estimate of $53.71 million. During the same quarter in the previous year, the company posted ($0.76) earnings per share. The company’s revenue for the quarter was up 10.0% on a year-over-year basis. Analysts expect that Goodrich Petroleum will post $-1.35 EPS for the current fiscal year.

GDP has been the subject of a number of other recent research reports. Analysts at Raymond James raised their price target on shares of Goodrich Petroleum from $29.00 to $33.00 in a research note on Wednesday, April 23rd. Separately, analysts at BMO Capital Markets raised their price target on shares of Goodrich Petroleum from $25.00 to $35.00 in a research note on Monday, April 21st. They now have an “outperform” rating on the stock. Finally, analysts at KLR Group downgraded shares of Goodrich Petroleum from a “buy” rating to a “hold” rating in a research note on Wednesday, April 16th. They now have a $24.00 price target on the stock, up previously from $19.00. One analyst has rated the stock with a sell rating, four have issued a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. Goodrich Petroleum has a consensus rating of “Buy” and an average price target of $28.42.

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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