SunTrust Lowers Goodrich Petroleum Price Target to $4.00 (GDP)
Stock analysts at SunTrust dropped their price target on shares ofGoodrich Petroleum (NYSE:GDP) from $7.00 to $4.00 in a report issued on Thursday. The firm currently has a “buy” rating on the stock. SunTrust’s price target would indicate a potential upside of 102.02% from the company’s current price.
GDP has been the subject of a number of other recent research reports. Analysts at RBC Capital reiterated an “outperform” rating and set a $7.00 price target (down previously from $8.00) on shares of Goodrich Petroleum in a research note on Sunday, May 10th. Analysts at Imperial Capital raised their price target on shares of Goodrich Petroleum from $4.00 to $7.00 and gave the company an “outperform” rating in a research note on Thursday, May 7th. Finally, analysts at Canaccord Genuity reiterated a “hold” rating on shares of Goodrich Petroleum in a research note on Wednesday, May 6th. Five investment analysts have rated the stock with a sell rating, twelve have given a hold rating and four have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $11.02.
Shares of Goodrich Petroleum (NYSE:GDP) opened at 1.98 on Thursday. Goodrich Petroleum has a one year low of $1.71 and a one year high of $29.28. The stock has a 50-day moving average of $3. and a 200-day moving average of $3.. The company’s market cap is $113.19 million.
Goodrich Petroleum (NYSE:GDP) last released its earnings data on Wednesday, May 6th. The company reported ($0.38) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.54) by $0.16. The company had revenue of $24.00 million for the quarter, compared to the consensus estimate of $39.51 million. During the same quarter in the previous year, the company posted ($0.54) earnings per share. The company’s revenue for the quarter was down 53.7% on a year-over-year basis. Analysts expect that Goodrich Petroleum will post $-1.19 EPS for the current fiscal year.
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. The Company’s properties are primarily in South Texas, which includes the Eagle Ford Shale Trend, Northwest Louisiana and East Texas, which includes the Haynesville Shale and Cotton Valley Taylor Sand and Southwest Mississippi and Southeast Louisiana which includes the Tuscaloosa Marine Shale.