Zacks: Goodrich Petroleum Corporation (NASDAQ:GDP) Receives Consensus Recommendation of “Strong Buy” from Brokerages

Shares of Goodrich Petroleum Corporation (NASDAQ:GDP) have received a consensus broker rating score of 1.43 (Strong Buy) from the seven brokers that provide coverage for the stock, Zacks Investment Research reports. One analyst has rated the stock with a hold recommendation, one has assigned a buy recommendation and five have given a strong buy recommendation to the company. Goodrich Petroleum’s rating score has declined by 3.6% from three months ago as a result of a number of analysts’ ratings changes.

Brokers have set a twelve-month consensus price target of $17.29 for the company and are anticipating that the company will post $0.39 EPS for the current quarter, according to Zacks. Zacks has also assigned Goodrich Petroleum an industry rank of 185 out of 256 based on the ratings given to its competitors.

Separately, B. Riley restated a “buy” rating on shares of Goodrich Petroleum in a research report on Monday, May 20th.

Shares of GDP traded up $0.37 on Wednesday, reaching $10.68. The company’s stock had a trading volume of 547 shares, compared to its average volume of 20,435. Goodrich Petroleum has a twelve month low of $9.23 and a twelve month high of $15.50. The firm has a fifty day moving average of $11.36 and a 200-day moving average of $12.56.

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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