Goodrich Petroleum Given Consensus Rating of “Buy” by Brokerages (NYSE:GDP)
Shares of Goodrich Petroleum (NYSE:GDP) have received a consensus recommendation of “Buy” from the seventeen brokerages that are presently covering the stock, StockRatingsNetwork reports. One equities research analyst has rated the stock with a sell recommendation, three have given a hold recommendation, nine have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $33.67.
Goodrich Petroleum (NYSE:GDP) opened at 19.71 on Friday. Goodrich Petroleum has a 52 week low of $11.80 and a 52 week high of $30.52. The stock’s 50-day moving average is $22. and its 200-day moving average is $21.03. The company’s market cap is $872.8 million.
Goodrich Petroleum (NYSE:GDP) last posted its quarterly earnings results on Thursday, August 7th. The company reported ($0.48) earnings per share for the quarter, missing the analysts’ 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 last year, the company posted ($0.63) earnings per share. Goodrich Petroleum’s revenue was up 9.9% compared to the same quarter last year. Analysts expect that Goodrich Petroleum will post $-1.68 EPS for the current fiscal year.
Several analysts have recently commented on the stock. Analysts at SunTrust cut their price target on shares of Goodrich Petroleum from $41.00 to $35.00 in a research note on Friday. Separately, analysts at RBC Capital cut their price target on shares of Goodrich Petroleum from $31.00 to $29.00 in a research note on Friday. Finally, analysts at Raymond James upgraded shares of Goodrich Petroleum from an “outperform” rating to a “strong-buy” rating in a research note on Friday.
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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