Zacks Investment Research lowered shares of Goodrich Petroleum Corp (NYSE:GDP) from a hold rating to a sell rating in a research report sent to investors 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. “

Several other equities analysts have also commented on GDP. Northland Securities assumed coverage on Goodrich Petroleum Corp in a report on Wednesday, June 28th. They issued an outperform rating and a $21.00 target price on the stock. Capital One Financial Corporation assumed coverage on Goodrich Petroleum Corp in a report on Tuesday, July 11th. They issued an overweight rating on the stock. Finally, SunTrust Banks, Inc. assumed coverage on Goodrich Petroleum Corp in a report on Tuesday, April 11th. They issued a buy rating and a $20.00 target price on the stock. One investment analyst has rated the stock with a sell rating and four have given a buy rating to the stock. Goodrich Petroleum Corp currently has a consensus rating of Buy and a consensus target price of $20.50.

Shares of Goodrich Petroleum Corp (GDP) traded down 0.31% on Tuesday, reaching $12.86. The company had a trading volume of 18,342 shares. The firm has a market capitalization of $117.13 million and a PE ratio of 12.56. The firm’s 50 day moving average is $12.72 and its 200 day moving average is $13.59. Goodrich Petroleum Corp has a 12 month low of $10.05 and a 12 month high of $16.85.

Goodrich Petroleum Corp (NYSE:GDP) last posted its earnings results on Tuesday, May 9th. The oil and natural gas company reported ($0.63) EPS for the quarter, missing the consensus estimate of ($0.04) by $0.59. The company had revenue of $9.41 million during the quarter, compared to analysts’ expectations of $9.89 million. On average, equities research analysts expect that Goodrich Petroleum Corp will post ($0.91) earnings per share for the current fiscal year.

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In other Goodrich Petroleum Corp news, VP Robert T. Barker sold 3,072 shares of the firm’s stock in a transaction dated Tuesday, June 6th. The stock was sold at an average price of $12.20, for a total transaction of $37,478.40. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

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

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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