Goodrich Petroleum Corp (NYSEAMERICAN:GDP) has been assigned an average recommendation of “Buy” from the seven ratings firms that are presently covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $13.00.
GDP has been the topic of several analyst reports. Zacks Investment Research cut shares of Goodrich Petroleum from a “buy” rating to a “hold” rating in a report on Saturday, November 2nd. Northland Securities reiterated a “buy” rating and set a $13.00 price target on shares of Goodrich Petroleum in a report on Friday, November 8th. Finally, Seaport Global Securities reissued a “buy” rating on shares of Goodrich Petroleum in a research report on Thursday, October 10th.
Shares of Goodrich Petroleum stock opened at $9.44 on Friday. The business has a 50-day simple moving average of $10.73 and a 200-day simple moving average of $12.09. Goodrich Petroleum has a one year low of $8.70 and a one year high of $15.24.
A number of institutional investors have recently bought and sold shares of GDP. Bank of New York Mellon Corp lifted its holdings in Goodrich Petroleum by 5.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 26,967 shares of the company’s stock worth $351,000 after buying an additional 1,283 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Goodrich Petroleum by 0.4% in the 2nd quarter. Vanguard Group Inc. now owns 433,569 shares of the company’s stock valued at $5,632,000 after acquiring an additional 1,757 shares during the last quarter. Northern Trust Corp increased its holdings in shares of Goodrich Petroleum by 1.9% in the 2nd quarter. Northern Trust Corp now owns 94,276 shares of the company’s stock valued at $1,224,000 after acquiring an additional 1,759 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Goodrich Petroleum by 11.3% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 21,898 shares of the company’s stock worth $285,000 after acquiring an additional 2,229 shares in the last quarter. Finally, Acadian Asset Management LLC raised its position in shares of Goodrich Petroleum by 44.2% during the 2nd quarter. Acadian Asset Management LLC now owns 12,036 shares of the company’s stock worth $156,000 after acquiring an additional 3,691 shares in the last quarter.
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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