Goodrich Petroleum Rating Increased to Strong-Buy at Raymond James (GDP)
Goodrich Petroleum (NYSE:GDP) was upgraded by investment analysts at Raymond James from an “outperform” rating to a “strong-buy” rating in a note issued to investors on Friday, TheFlyOnTheWall.com reports.
Goodrich Petroleum (NYSE:GDP) opened at 19.00 on Friday. Goodrich Petroleum has a 52-week low of $11.80 and a 52-week high of $30.52. The stock has a 50-day moving average of $23.41 and a 200-day moving average of $20.99. The company’s market cap is $841.3 million.
Goodrich Petroleum (NYSE:GDP) last issued its quarterly earnings data on Thursday, August 7th. The company reported ($0.48) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.46) by $0.02. The company had revenue of $53.30 million for the quarter, compared to the consensus estimate of $55.10 million. During the same quarter in the previous year, the company posted ($0.63) earnings per share. The company’s revenue for the quarter was up 9.9% on a year-over-year basis. On average, analysts predict that Goodrich Petroleum will post $-1.63 earnings per share for the current fiscal year.
A number of other analysts have also recently weighed in on GDP. Analysts at Howard Weil downgraded shares of Goodrich Petroleum from a “focus stock” rating to a “sector outperform” rating in a research note on Wednesday, June 18th. They now have a $37.00 price target on the stock. Separately, 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. Finally, 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. One analyst has rated the stock with a sell rating, three have given a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $32.00.
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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