Investment analysts at BMO Capital Markets upped their price target on shares of Goodrich Petroleum Corp. (NYSE:GDP) from $15.00 to $25.00 in a note issued to investors on Wednesday, ARN reports. The firm currently has an “outperform” rating on the stock. BMO Capital Markets’ price target points to a potential upside of 41.40% from the stock’s previous close.
Shares of Goodrich Petroleum Corp. (NYSE:GDP) traded down 8.39% during mid-day trading on Wednesday, hitting $17.68. Goodrich Petroleum Corp. has a one year low of $7.77 and a one year high of $19.82. The stock’s 50-day moving average is currently $14.66. The company’s market cap is $648.6 million.
Goodrich Petroleum Corp. (NYSE:GDP) last issued its quarterly earnings data on Tuesday, August 6th. The company reported ($0.63) EPS for the quarter, missing the Thomson Reuters consensus estimate of ($0.61) by $0.02. The company had revenue of $48.50 million for the quarter, compared to the consensus estimate of $58.00 million. During the same quarter in the prior year, the company posted ($0.21) earnings per share. The company’s quarterly revenue was up 17.4% on a year-over-year basis. Analysts expect that Goodrich Petroleum Corp. will post $-2.59 EPS for the current fiscal year.
A number of other analysts have also recently weighed in on GDP. Analysts at SunTrust initiated coverage on shares of Goodrich Petroleum Corp. in a research note to investors on Wednesday, July 31st. They set a “buy” rating on the stock. Separately, analysts at RBC Capital raised their price target on shares of Goodrich Petroleum Corp. from $18.00 to $20.00 in a research note to investors on Wednesday, July 24th. They now have an “outperform” rating on the stock. Finally, analysts at Canaccord Genuity initiated coverage on shares of Goodrich Petroleum Corp. in a research note to investors on Tuesday, July 23rd. They set a “buy” rating and a $16.00 price target on the stock.
One investment analyst has rated the stock with a sell rating, two have given a hold rating and seven have issued a buy rating to the company. Goodrich Petroleum Corp. presently has an average rating of “Buy” and an average price target of $17.26.
Goodrich Petroleum Corporation is an independent oil and natural gas company engaged in exploration, development and production of oil and natural gas on properties primarily in Northwest Louisiana, East Texas and South Texas.
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