PENNYBUSTER'S PENNY BUSTIN PLAYS!!

[Pennybuster]

Shares of Goodrich Petroleum (NYSE:GDP) have been assigned an average recommendation of “Hold” from the twenty ratings firms that are presently covering the firm, MarketBeat.com reports. Five analysts have rated the stock with a sell recommendation, eleven have given a hold recommendation and three have given a buy recommendation to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $3.01.

Shares of Goodrich Petroleum (NYSE:GDP) traded down 5.08% during midday trading on Thursday, reaching $0.56. The company’s stock had a trading volume of 594,377 shares. Goodrich Petroleum has a 12-month low of $0.54 and a 12-month high of $11.48. The stock has a 50-day moving average of $0.67 and a 200 day moving average of $1.50. The firm’s market capitalization is $32.19 million.

Goodrich Petroleum (NYSE:GDP) last released its quarterly earnings results on Wednesday, November 4th. The company reported ($0.44) earnings per share for the quarter, missing the consensus estimate of ($0.20) by $0.24. The company had revenue of $31.50 million for the quarter, compared to analysts’ expectations of $28.65 million. During the same period in the previous year, the business posted ($0.49) EPS. The firm’s revenue was down 42.8% on a year-over-year basis. Equities research analysts predict that Goodrich Petroleum will post ($1.14) EPS for the current fiscal year.

GDP has been the subject of several research reports. RBC Capital reissued an “outperform” rating and issued a $4.00 price target (down previously from $5.00) on shares of Goodrich Petroleum in a research note on Thursday, August 6th. FBR & Co. cut shares of Goodrich Petroleum from an “outperform” rating to a “market perform” rating and set a $4.00 price objective for the company. in a research report on Monday, November 2nd. Imperial Capital reiterated an “in-line” rating and set a $0.60 target price (down from $0.70) on shares of Goodrich Petroleum in a report on Monday, October 5th. Howard Weil reduced their price objective on shares of Goodrich Petroleum from $5.00 to $3.00 in a report on Friday, August 14th. Finally, Capital One Financial Corp. downgraded shares of Goodrich Petroleum from an “equal weight” rating to an “underweight” rating in a research report on Wednesday, September 9th.

Goodrich Petroleum Corporation is an independent petroleum and natural gas business. The Company is engaged in the exploration, development and production of petroleum and natural gas on properties mainly in Southwest Mississippi and Southeast Louisiana, which includes the Tuscaloosa Marine Shale Trend (NYSE:GDP); South Texas, which includes the Eagle Ford Shale Trend, and Northwest Louisiana and East Texas, including the Haynesville Shale. The Company owns interests in about 260 generating oil and natural gas wells located in around 43 fields in eight states of the United States. The Company also has ownership interests in wells and acreage in many other fields, like the Midway field in the Garfield Unit in Kalkaska County, Michigan, Texas along with San Patricio County. The Company has estimated proved reserves of approximately 273.7 billion cubic feet equivalent (Bcfe).





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