Goodrich Petroleum Corp (GDP) Coverage Initiated by Analysts at EuroPacific Canada
EuroPacific Canada began coverage on shares of Goodrich Petroleum Corp (NYSE:GDP) in a report released on Tuesday. The brokerage issued a buy rating and a $16.00 target price on the oil and natural gas company’s stock.
Several other research analysts have also issued reports on the stock. Eurobank EFG began coverage on shares of Goodrich Petroleum Corp in a research report on Tuesday. They issued a buy rating and a $16.00 price target for the company. Capital One Financial Corporation began coverage on shares of Goodrich Petroleum Corp in a research report on Tuesday, July 11th. They issued an overweight rating for the company. Zacks Investment Research lowered shares of Goodrich Petroleum Corp from a hold rating to a sell rating in a research report on Tuesday, July 25th. Finally, Northland Securities began coverage on shares of Goodrich Petroleum Corp in a research report on Wednesday, June 28th. They issued an outperform rating and a $21.00 price target for the company. Seven equities research analysts have rated the stock with a buy rating, Goodrich Petroleum Corp has an average rating of Buy and a consensus target price of $16.80.
Shares of Goodrich Petroleum Corp (NYSE:GDP) traded up 0.10% during mid-day trading on Tuesday, reaching $10.25. The company had a trading volume of 59,510 shares. Goodrich Petroleum Corp has a 52-week low of $8.20 and a 52-week high of $17.25. The company’s 50-day moving average price is $10.37 and its 200-day moving average price is $12.74. The company has a market capitalization of $108.01 million and a PE ratio of 5.81.
Goodrich Petroleum Corp (NYSE:GDP) last announced its quarterly earnings data on Friday, August 4th. The oil and natural gas company reported ($0.13) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.21) by $0.08. The company had revenue of $12.50 million for the quarter, compared to analyst estimates of $10.70 million. The firm’s quarterly revenue was down 42.9% compared to the same quarter last year. On average, analysts forecast that Goodrich Petroleum Corp will post ($0.77) earnings per share for the current fiscal year.
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In related news, major shareholder Franklin Resources Inc sold 2,689 shares of the stock in a transaction dated Monday, September 25th. The shares were sold at an average price of $9.66, for a total value of $25,975.74. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.
A number of large investors have recently bought and sold shares of GDP. Schneider Capital Management Corp bought a new stake in Goodrich Petroleum Corp during the second quarter worth about $274,000. Parkwood LLC grew its stake in Goodrich Petroleum Corp by 89.9% during the second quarter. Parkwood LLC now owns 85,471 shares of the oil and natural gas company’s stock worth $1,039,000 after buying an additional 40,471 shares during the last quarter. Ameriprise Financial Inc. bought a new stake in Goodrich Petroleum Corp during the second quarter worth about $1,387,000. Penn Capital Management Co. Inc. bought a new stake in Goodrich Petroleum Corp during the second quarter worth about $1,701,000. Finally, Raffles Associates LP bought a new stake in Goodrich Petroleum Corp during the second quarter worth about $2,316,000.
Goodrich Petroleum Corp Company Profile
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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