Goodrich Petroleum Given New $29.00 Price Target at RBC Capital (GDP)
Stock analysts at RBC Capital decreased their price target on shares of Goodrich Petroleum (NYSE:GDP) from $31.00 to $29.00 in a report issued on Friday. RBC Capital’s price objective would suggest a potential upside of 45.51% from the stock’s previous close.
Other equities research analysts have also recently issued reports about the stock. Analysts at Raymond James upgraded shares of Goodrich Petroleum from an “outperform” rating to a “strong-buy” rating in a research note on Friday. Separately, 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. Finally, 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. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $33.67.
Goodrich Petroleum (NYSE:GDP) opened at 19.93 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 $23.16 and a 200-day moving average of $20.99. The company’s market cap is $882.5 million. Goodrich Petroleum also was the recipient of unusually large options trading activity on Thursday. Stock investors purchased 28,288 call options on the company. This represents an increase of approximately 915% compared to the typical daily volume of 2,787 call options.
Goodrich Petroleum (NYSE:GDP) last announced its earnings results on Thursday, August 7th. The company reported ($0.48) EPS for the quarter, missing the Thomson Reuters 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 prior year, the company posted ($0.63) earnings per share. The company’s quarterly revenue was up 9.9% on a year-over-year basis. Analysts expect that Goodrich Petroleum will post $-1.63 EPS for the current fiscal year.
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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