Goodrich Petroleum Corp (GDPMQ) Receives Average Recommendation of “Buy” from Analysts
Goodrich Petroleum Corp (OTCMKTS:GDPMQ) has received an average recommendation of “Buy” from the eight ratings firms that are covering the firm, Marketbeat reports. One analyst has rated the stock with a sell recommendation and seven have issued a buy recommendation on the company. The average 12 month price objective among brokers that have covered the stock in the last year is $17.33.
Several equities research analysts recently weighed in on GDPMQ shares. Zacks Investment Research upgraded Goodrich Petroleum Corp from a “hold” rating to a “buy” rating and set a $11.00 target price for the company in a research note on Tuesday, October 3rd. Eurobank EFG began coverage on Goodrich Petroleum Corp in a research note on Tuesday, October 3rd. They set a “buy” rating and a $16.00 target price for the company. Seaport Global Securities reiterated a “buy” rating and issued a $17.00 price objective on shares of Goodrich Petroleum Corp in a research note on Wednesday, October 18th. Finally, EuroPacific Canada began coverage on Goodrich Petroleum Corp in a research note on Tuesday, October 3rd. They issued a “buy” rating and a $16.00 price objective for the company.
In related news, major shareholder Franklin Resources Inc sold 2,689 shares of the company’s stock in a transaction on Monday, September 25th. The stock was sold at an average price of $9.66, for a total transaction of $25,975.74. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Mark E. Ferchau sold 2,939 shares of the company’s stock in a transaction on Monday, October 16th. The stock was sold at an average price of $9.29, for a total value of $27,303.31. The disclosure for this sale can be found here. Insiders have sold 87,704 shares of company stock valued at $919,097 in the last 90 days.
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Goodrich Petroleum Corp (OTCMKTS GDPMQ) opened at $0.01 on Wednesday. Goodrich Petroleum Corp has a 52-week low of $0.01 and a 52-week high of $0.77.
Goodrich Petroleum Corp (OTCMKTS:GDPMQ) last announced its quarterly earnings data on Wednesday, November 8th. The oil and natural gas company reported $0.05 EPS for the quarter, topping the Zacks’ consensus estimate of ($0.04) by $0.09. The company had revenue of $13.22 million for the quarter, compared to analyst estimates of $13.61 million. During the same period in the prior year, the firm posted ($0.64) earnings per share. The business’s quarterly revenue was down 62.3% compared to the same quarter last year.
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.
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