Goodrich Petroleum Corp (GDP) Receives New Coverage from Analysts at Eurobank EFG
Eurobank EFG assumed coverage on shares of Goodrich Petroleum Corp (NYSE:GDP) in a report issued on Tuesday. The brokerage issued a buy rating and a $16.00 price target on the oil and natural gas company’s stock.
GDP has been the subject of several other research reports. Capital One Financial Corporation began coverage on shares of Goodrich Petroleum Corp in a research report on Tuesday, July 11th. They set 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 report on Tuesday, July 25th. Finally, Northland Securities began coverage on Goodrich Petroleum Corp in a research report on Wednesday, June 28th. They issued an outperform rating and a $21.00 price objective on the stock. Seven research analysts have rated the stock with a buy rating, Goodrich Petroleum Corp presently has a consensus rating of Buy and a consensus target price of $16.80.
Shares of Goodrich Petroleum Corp (NYSE GDP) traded down 0.52% during mid-day trading on Tuesday, reaching $9.54. The company had a trading volume of 21,180 shares. The company has a market capitalization of $100.53 million and a price-to-earnings ratio of 5.41. The company has a 50 day moving average price of $10.37 and a 200 day moving average price of $12.74. Goodrich Petroleum Corp has a one year low of $8.20 and a one year high of $17.25.
Goodrich Petroleum Corp (NYSE:GDP) last issued its earnings results on Friday, August 4th. The oil and natural gas company reported ($0.13) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.21) by $0.08. The firm had revenue of $12.50 million during the quarter, compared to analysts’ expectations of $10.70 million. The firm’s revenue was down 42.9% compared to the same quarter last year. On average, analysts anticipate that Goodrich Petroleum Corp will post ($0.77) EPS for the current year.
In other news, major shareholder Franklin Resources Inc sold 2,689 shares of the business’s stock in a transaction that occurred on Monday, September 25th. The shares were sold at an average price of $9.66, for a total transaction of $25,975.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.
A number of institutional investors have recently modified their holdings of GDP. Raffles Associates LP purchased a new stake in Goodrich Petroleum Corp in the second quarter worth approximately $2,316,000. Schneider Capital Management Corp bought a new stake in Goodrich Petroleum Corp in the 2nd quarter worth approximately $274,000. FMR LLC bought a new stake in Goodrich Petroleum Corp in the 2nd quarter worth approximately $2,739,000. Vanguard Group Inc. bought a new stake in Goodrich Petroleum Corp in the 2nd quarter worth approximately $2,941,000. Finally, Penn Capital Management Co. Inc. bought a new stake in Goodrich Petroleum Corp in the 2nd quarter worth approximately $1,701,000.
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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