Goodrich Petroleum Corp (NYSE:GDP) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Tuesday.

According to Zacks, “Goodrich Petroleum Corporation is an exploration and production company. It engaged in the exploitation, development and production of natural gas and crude oil primarily in the Haynesville Shale in Northeast Texas and Northwest Louisiana, the Tuscaloosa Marine Shale in Eastern Louisiana and Southwestern Mississippi and the oil-window of the Eagle Ford Shale trend in South Texas. Goodrich Petroleum Corporation is based in Houston, Texas. “

A number of other brokerages have also issued reports on GDP. Capital One Financial Corporation initiated coverage on shares of Goodrich Petroleum Corp in a research report on Tuesday, July 11th. They set an “overweight” rating on the stock. Northland Securities initiated coverage on shares of Goodrich Petroleum Corp in a research report on Wednesday, June 28th. They set an “outperform” rating and a $21.00 target price on the stock. Finally, SunTrust Banks, Inc. initiated coverage on shares of Goodrich Petroleum Corp in a research report on Tuesday, April 11th. They set a “buy” rating and a $20.00 target price on the stock. One equities research analyst has rated the stock with a sell rating and four have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $20.50.

Goodrich Petroleum Corp (NYSE:GDP) traded up 0.31% on Tuesday, hitting $13.12. 3,814 shares of the company were exchanged. The stock has a 50 day moving average price of $12.65 and a 200 day moving average price of $13.61. Goodrich Petroleum Corp has a one year low of $10.05 and a one year high of $17.25. The firm has a market cap of $119.50 million and a price-to-earnings ratio of 12.81.

Goodrich Petroleum Corp (NYSE:GDP) last announced its earnings results on Tuesday, May 9th. The oil and natural gas company reported ($0.63) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.04) by $0.59. The firm had revenue of $9.41 million for the quarter, compared to the consensus estimate of $9.89 million. On average, equities research analysts forecast that Goodrich Petroleum Corp will post ($0.92) EPS for the current fiscal year.

COPYRIGHT VIOLATION WARNING: “Goodrich Petroleum Corp (GDP) Downgraded to Sell at Zacks Investment Research” was first reported by American Banking News and is owned by of American Banking News. If you are accessing this article on another domain, it was stolen and reposted in violation of international copyright & trademark law. The legal version of this article can be accessed at

In related news, VP Robert T. Barker sold 3,072 shares of the stock in a transaction that occurred on Tuesday, June 6th. The shares were sold at an average price of $12.20, for a total value of $37,478.40. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

A hedge fund recently bought a new stake in Goodrich Petroleum Corp stock. Parkwood LLC acquired a new stake in shares of Goodrich Petroleum Corp (NYSE:GDP) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 45,000 shares of the oil and natural gas company’s stock, valued at approximately $633,000. Parkwood LLC owned approximately 0.49% of Goodrich Petroleum Corp as of its most recent filing with the SEC.

About Goodrich Petroleum Corp

Goodrich Petroleum Corporation is an independent oil and natural gas company. The Company is engaged in the exploration, development and production of oil and natural gas on properties primarily in Southwest Mississippi and Southeast Louisiana, which includes the Tuscaloosa Marine Shale Trend (TMS); Northwest Louisiana and East Texas, which includes the Haynesville Shale Trend, and South Texas, which includes the Eagle Ford Shale Trend.

Get a free copy of the Zacks research report on Goodrich Petroleum Corp (GDP)

For more information about research offerings from Zacks Investment Research, visit

Receive News & Ratings for Goodrich Petroleum Corp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Goodrich Petroleum Corp and related companies with's FREE daily email newsletter.