Brokerages Set $15.83 Price Target for Goodrich Petroleum Corporation (NASDAQ:GDP)

Shares of Goodrich Petroleum Corporation (NASDAQ:GDP) have been given an average broker rating score of 1.33 (Strong Buy) from the six analysts that provide coverage for the company, Zacks Investment Research reports. One investment analyst has rated the stock with a hold recommendation and five have given a strong buy recommendation to the company. Goodrich Petroleum’s rating score has improved by 7% in the last 90 days as a result of a number of analysts’ ratings changes.

Brokers have set a 12 month consensus target price of $15.83 for the company and are anticipating that the company will post $0.33 EPS for the current quarter, according to Zacks. Zacks has also given Goodrich Petroleum an industry rank of 166 out of 255 based on the ratings given to related companies.

Separately, Seaport Global Securities reiterated a “buy” rating on shares of Goodrich Petroleum in a research report on Thursday.

NASDAQ GDP traded down $0.16 during mid-day trading on Friday, reaching $9.31. 14,310 shares of the company’s stock traded hands, compared to its average volume of 19,078. Goodrich Petroleum has a 1-year low of $9.11 and a 1-year high of $15.50.

Goodrich Petroleum (NASDAQ:GDP) last issued its earnings results on Tuesday, August 6th. The company reported $0.34 EPS for the quarter, topping the consensus estimate of $0.25 by $0.09. The firm had revenue of $31.88 million during the quarter, compared to analyst estimates of $34.46 million.

About Goodrich Petroleum

Goodrich Petroleum Corporation, an independent oil and natural gas company, engages in the exploration, development, and production of oil and natural gas. It primarily holds interests in the Haynesville Shale Trend in northwest Louisiana and East Texas; Tuscaloosa Marine Shale Trend located in southwest Mississippi and southeast Louisiana; and the Eagle Ford Shale Trend situated in South Texas.

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