Goodrich Petroleum’s (GDP) “Buy” Rating Reaffirmed at Northland Securities

Northland Securities restated their buy rating on shares of Goodrich Petroleum (NYSEAMERICAN:GDP) in a research note issued to investors on Monday morning, AnalystRatings.com reports. They currently have a $22.00 price objective on the stock.

Other analysts have also recently issued research reports about the company. B. Riley initiated coverage on Goodrich Petroleum in a report on Monday, May 20th. They set a buy rating and a $15.50 target price for the company. TheStreet upgraded Goodrich Petroleum from a d rating to a b rating in a report on Wednesday, May 8th. Finally, Zacks Investment Research upgraded Goodrich Petroleum from a sell rating to a hold rating in a report on Wednesday, February 20th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Goodrich Petroleum presently has a consensus rating of Buy and an average target price of $18.75.

Shares of NYSEAMERICAN:GDP opened at $11.05 on Monday. Goodrich Petroleum has a 1 year low of $10.77 and a 1 year high of $15.50.

Goodrich Petroleum (NYSEAMERICAN:GDP) last issued its earnings results on Wednesday, May 8th. The company reported $0.03 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.21 by ($0.18). The firm had revenue of $29.14 million during the quarter, compared to analyst estimates of $29.10 million.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. boosted its holdings in Goodrich Petroleum by 2.5% in the 1st quarter. BlackRock Inc. now owns 444,637 shares of the company’s stock worth $6,047,000 after acquiring an additional 10,896 shares during the period. Vanguard Group Inc. boosted its holdings in Goodrich Petroleum by 17.8% in the 3rd quarter. Vanguard Group Inc. now owns 330,997 shares of the company’s stock worth $4,647,000 after acquiring an additional 50,118 shares during the period. Vanguard Group Inc boosted its holdings in Goodrich Petroleum by 17.8% in the 3rd quarter. Vanguard Group Inc now owns 330,997 shares of the company’s stock worth $4,647,000 after acquiring an additional 50,118 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Goodrich Petroleum by 13.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 138,859 shares of the company’s stock worth $1,888,000 after acquiring an additional 16,755 shares during the period. Finally, Northern Trust Corp boosted its holdings in Goodrich Petroleum by 5.4% in the 1st quarter. Northern Trust Corp now owns 92,517 shares of the company’s stock worth $1,258,000 after acquiring an additional 4,733 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.

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