Goodrich Petroleum (GDP) Now Covered by B. Riley

Research analysts at B. Riley assumed coverage on shares of Goodrich Petroleum (NYSEAMERICAN:GDP) in a research note issued on Monday, Marketbeat.com reports. The firm set a “buy” rating and a $15.50 price target on the stock. B. Riley’s price objective indicates a potential upside of 25.30% from the company’s previous close.

GDP has been the topic of a number of other research reports. Zacks Investment Research downgraded Goodrich Petroleum from a “hold” rating to a “sell” rating in a research report on Friday, February 1st. Northland Securities reissued a “buy” rating and set a $22.00 price target on shares of Goodrich Petroleum in a research report on Thursday, March 21st. Finally, TheStreet raised Goodrich Petroleum from a “d” rating to a “b” rating in a research report on Wednesday, May 8th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Goodrich Petroleum has a consensus rating of “Buy” and a consensus target price of $18.75.

Shares of NYSEAMERICAN:GDP opened at $12.37 on Monday. Goodrich Petroleum has a 1 year low of $11.60 and a 1 year high of $15.50.

Goodrich Petroleum (NYSEAMERICAN:GDP) last issued its quarterly earnings results on Tuesday, March 5th. The company reported $0.58 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.45 by $0.13. The company had revenue of $33.91 million for the quarter, compared to analyst estimates of $32.86 million.

Hedge funds have recently modified their holdings of the business. BNP Paribas Arbitrage SA boosted its holdings in shares of Goodrich Petroleum by 4,265.1% in the 1st quarter. BNP Paribas Arbitrage SA now owns 1,877 shares of the company’s stock valued at $26,000 after purchasing an additional 1,834 shares in the last quarter. Citigroup Inc. boosted its holdings in shares of Goodrich Petroleum by 98.0% in the 4th quarter. Citigroup Inc. now owns 5,670 shares of the company’s stock valued at $77,000 after purchasing an additional 2,807 shares in the last quarter. Bank of America Corp DE boosted its holdings in shares of Goodrich Petroleum by 63.1% in the 4th quarter. Bank of America Corp DE now owns 7,576 shares of the company’s stock valued at $102,000 after purchasing an additional 2,932 shares in the last quarter. Rhumbline Advisers acquired a new stake in shares of Goodrich Petroleum in the 4th quarter valued at $152,000. Finally, Bank of New York Mellon Corp boosted its holdings in shares of Goodrich Petroleum by 31.8% in the 3rd quarter. Bank of New York Mellon Corp now owns 24,715 shares of the company’s stock valued at $347,000 after purchasing an additional 5,959 shares in the last quarter.

Goodrich Petroleum Company Profile

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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