Share on StockTwits

Goodrich Petroleum (NYSE:GDP)‘s stock had its “buy” rating reaffirmed by stock analysts at Canaccord Genuity in a report issued on Wednesday, AnalystRatingsNetwork reports. They currently have a $29.00 price target on the stock, up from their previous price target of $28.00. Canaccord Genuity’s price target suggests a potential upside of 20.43% from the stock’s previous close.

Shares of Goodrich Petroleum (NYSE:GDP) traded up 2.47% on Wednesday, hitting $24.08. 1,367,545 shares of the company’s stock traded hands. Goodrich Petroleum has a one year low of $11.16 and a one year high of $28.55. The stock has a 50-day moving average of $19.95 and a 200-day moving average of $18.37. The company’s market cap is $1.066 billion.

Goodrich Petroleum (NYSE:GDP) last posted its quarterly earnings results on Tuesday, May 6th. The company reported ($0.54) earnings per share for the quarter, missing the analysts’ 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 last year, the company posted ($0.76) earnings per share. Goodrich Petroleum’s revenue was up 10.0% compared to the same quarter last year. Analysts expect that Goodrich Petroleum will post $-1.41 EPS for the current fiscal year.

A number of other firms have also recently commented on GDP. Analysts at TheStreet upgraded shares of Goodrich Petroleum from a “sell” rating to a “hold” rating in a research note on Tuesday. Separately, analysts at MLV & Co
raised their price target on shares of Goodrich Petroleum from $27.00 to $32.00 in a research note on Tuesday. They now have a “buy” rating on the stock. Finally, 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. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $28.49.

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.