Goodrich Petroleum Corp (GDP) Receives a Buy from Northland Securities

By Austin Angelo

In a report released today, Jeff Grampp from Northland Securities maintained a Buy rating on Goodrich Petroleum Corp (GDPResearch Report), with a price target of $22. The company’s shares opened today at $11.70.

According to TipRanks.com, Grampp ‘s ranking currently consits of no stars on a 0-5 ranking scale, with an average return of -13.8% and a 21.8% success rate. Grampp covers the Basic Materials sector, focusing on stocks such as Sundance Energy Australia, Penn Virginia Corporation, and SilverBow Resources Inc.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Goodrich Petroleum Corp with a $18.75 average price target.

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The company has a one-year high of $15.50 and a one-year low of $10.77. Currently, Goodrich Petroleum Corp has an average volume of 18.14K.

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Goodrich Petroleum Corp. engages in the exploration, development, and production of oil and natural gas on properties. It focuses on the Haynesville Shale in Northwest Louisiana and Northeast Texas, the Eagle Ford Shale formations in South Texas and the Tuscaloosa Marine Shale in Eastern Louisiana and Southwestern Mississippi.