Goodrich Petroleum Corp (NYSE:GDP)‘s stock had its “buy” rating restated by stock analysts at Seaport Global Securities in a research note issued to investors on Wednesday. They currently have a $17.00 target price on the oil and natural gas company’s stock. Seaport Global Securities’ price objective indicates a potential upside of 70.51% from the stock’s previous close.

A number of other brokerages have also recently issued reports on GDP. Eurobank EFG initiated coverage on shares of Goodrich Petroleum Corp in a report on Tuesday, October 3rd. They issued a “buy” rating and a $16.00 price objective for the company. Zacks Investment Research cut shares of Goodrich Petroleum Corp from a “buy” rating to a “hold” rating in a report on Tuesday, October 10th. Northland Securities initiated coverage on shares of Goodrich Petroleum Corp in a report on Wednesday, June 28th. They issued an “outperform” rating and a $21.00 price objective for the company. EuroPacific Canada initiated coverage on shares of Goodrich Petroleum Corp in a report on Tuesday, October 3rd. They issued a “buy” rating and a $16.00 price objective for the company. Finally, Capital One Financial Corp. initiated coverage on shares of Goodrich Petroleum Corp in a report on Tuesday, July 11th. They issued an “overweight” rating for the company. One research analyst has rated the stock with a sell rating and seven have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $16.83.

Goodrich Petroleum Corp (NYSE:GDP) traded up 3.01% on Wednesday, reaching $10.27. The company’s stock had a trading volume of 858 shares. Goodrich Petroleum Corp has a 1-year low of $8.20 and a 1-year high of $16.85. The company has a market capitalization of $108.23 million and a price-to-earnings ratio of 5.83. The stock has a 50 day moving average price of $9.51 and a 200-day moving average price of $11.85.

Goodrich Petroleum Corp (NYSE:GDP) last posted its quarterly earnings results on Friday, August 4th. The oil and natural gas company reported ($0.13) EPS for the quarter, beating the consensus estimate of ($0.21) by $0.08. The company had revenue of $12.50 million for the quarter, compared to analysts’ expectations of $10.70 million. The business’s quarterly revenue was down 42.9% on a year-over-year basis. Equities analysts predict that Goodrich Petroleum Corp will post ($0.78) earnings per share for the current fiscal year.

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In other Goodrich Petroleum Corp news, major shareholder Franklin Resources Inc sold 2,689 shares of the company’s stock in a transaction dated Monday, September 25th. The shares were sold at an average price of $9.66, for a total transaction of $25,975.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Mark E. Ferchau sold 2,939 shares of the company’s stock in a transaction dated Monday, October 16th. The shares were sold at an average price of $9.29, for a total transaction of $27,303.31. The disclosure for this sale can be found here. Insiders sold 38,089 shares of company stock valued at $376,142 over the last quarter.

A number of hedge funds have recently added to or reduced their stakes in GDP. Vanguard Group Inc. bought a new stake in Goodrich Petroleum Corp during the second quarter valued at about $2,941,000. FMR LLC bought a new stake in Goodrich Petroleum Corp during the second quarter valued at about $2,739,000. Raffles Associates LP bought a new stake in Goodrich Petroleum Corp during the second quarter valued at about $2,316,000. Penn Capital Management Co. Inc. bought a new stake in Goodrich Petroleum Corp during the second quarter valued at about $1,701,000. Finally, Ameriprise Financial Inc. bought a new stake in Goodrich Petroleum Corp during the second quarter valued at about $1,387,000.

About Goodrich Petroleum Corp

Goodrich Petroleum Corporation is an independent oil and natural gas company. The Company is engaged in the exploration, development and production of oil and natural gas on properties primarily in Southwest Mississippi and Southeast Louisiana, which includes the Tuscaloosa Marine Shale Trend (TMS); Northwest Louisiana and East Texas, which includes the Haynesville Shale Trend, and South Texas, which includes the Eagle Ford Shale Trend.

Analyst Recommendations for Goodrich Petroleum Corp (NYSE:GDP)

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