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Goodrich Petroleum (NYSE:GDP) was downgraded by analysts at Howard Weil from a “focus list” rating to a “sector outperform” rating in a research report issued to clients and investors on Wednesday. They currently have a $37.00 price target on the stock. Howard Weil’s price objective points to a potential upside of 28.87% from the company’s current price.

Shares of Goodrich Petroleum (NYSE:GDP) opened at 28.71 on Wednesday. Goodrich Petroleum has a 1-year low of $11.16 and a 1-year high of $30.52. The stock’s 50-day moving average is $26.24 and its 200-day moving average is $19.37. The company’s market cap is $1.271 billion.

Goodrich Petroleum (NYSE:GDP) last released its earnings data on Tuesday, May 6th. The company reported ($0.54) EPS for the quarter, missing the Thomson Reuters 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 prior year, the company posted ($0.76) earnings per share. The company’s quarterly revenue was up 10.0% on a year-over-year basis. On average, analysts predict that Goodrich Petroleum will post $-1.62 earnings per share for the current fiscal year.

A number of other analysts have also recently weighed in on GDP. Analysts at Global Hunter Securities raised their price target on shares of Goodrich Petroleum from $35.00 to $38.00 in a research note on Tuesday, June 3rd. Separately, analysts at Canaccord Genuity raised their price target on shares of Goodrich Petroleum from $29.00 to $33.00 in a research note on Tuesday, June 3rd. They now have a “buy” rating on the stock. Finally, analysts at Northland Securities raised their price target on shares of Goodrich Petroleum from $33.00 to $37.00 in a research note on Tuesday, June 3rd. They now have an “outperform” rating on the stock. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and ten have issued a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $30.33.

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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