Goodrich Petroleum Corp (NYSEAMERICAN:GDP) Receives $13.00 Consensus Target Price from Brokerages

Goodrich Petroleum Corp (NYSEAMERICAN:GDP) has been given an average rating of “Buy” by the seven ratings firms that are currently covering the stock, MarketBeat reports. Two equities research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $13.00.

Several equities research analysts recently issued reports on GDP shares. Seaport Global Securities reissued a “buy” rating on shares of Goodrich Petroleum in a research report on Thursday, October 10th. Zacks Investment Research lowered shares of Goodrich Petroleum from a “buy” rating to a “hold” rating in a research report on Saturday, November 2nd. Finally, Northland Securities reaffirmed a “buy” rating and set a $13.00 price target on shares of Goodrich Petroleum in a research note on Friday, November 8th.

NYSEAMERICAN GDP opened at $9.44 on Friday. Goodrich Petroleum has a 12 month low of $8.70 and a 12 month high of $15.24. The company has a 50-day moving average of $10.73 and a 200-day moving average of $12.09.

Institutional investors have recently modified their holdings of the stock. BlackRock Inc. grew its position in Goodrich Petroleum by 2.3% during the second quarter. BlackRock Inc. now owns 454,804 shares of the company’s stock valued at $5,907,000 after acquiring an additional 10,167 shares during the period. Vanguard Group Inc. increased its stake in Goodrich Petroleum by 0.4% during the second quarter. Vanguard Group Inc. now owns 433,569 shares of the company’s stock worth $5,632,000 after acquiring an additional 1,757 shares during the last quarter. Morgan Stanley increased its stake in Goodrich Petroleum by 542.4% during the second quarter. Morgan Stanley now owns 296,489 shares of the company’s stock worth $3,852,000 after acquiring an additional 250,338 shares during the last quarter. UBS Oconnor LLC purchased a new position in shares of Goodrich Petroleum in the 2nd quarter worth about $1,948,000. Finally, Renaissance Technologies LLC raised its holdings in shares of Goodrich Petroleum by 7.4% in the 2nd quarter. Renaissance Technologies LLC now owns 114,500 shares of the company’s stock worth $1,487,000 after purchasing an additional 7,900 shares during the period.

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.

Featured Story: What does it mean to hold a stock in street name?

Analyst Recommendations for Goodrich Petroleum (NYSEAMERICAN:GDP)

Receive News & Ratings for Goodrich Petroleum Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Goodrich Petroleum and related companies with MarketBeat.com's FREE daily email newsletter.