Goodrich Petroleum Corporation (NYSE:GDP) announced that it has hired Joseph T. Leary as its Interim Chief Financial Officer. Mr. Leary has 28 years of energy finance and treasury experience and 10 years of banking experience. Mr. Leary has held various executive positions within the energy industry and was formerly the Chief Financial Officer of KCS Energy, Inc. (2003 – 2006), Energy Partners, Ltd. (2007 – 2009) and Tarpon (2011 – 2014).
“We are pleased to have Joe come on board as he brings significant experience in various financial positions throughout his 38 years as an oil and gas financial executive,” said Goodrich Chairman and CEO, Walter G. Goodrich. “We are confident Joe will be a value added member of our team and look forward to a long, productive relationship.” (Original Source)
Shares of Goodrich Petroleum closed last Friday at $0.72. GDP has a 1-year high of $12.09 and a 1-year low of $0.54. The stock’s 50-day moving average is $0.74 and its 200-day moving average is $1.89.
On the ratings front, Goodrich Petroleum has been the subject of a number of recent research reports. In a report issued on August 6, RBC analyst Leo Mariani reiterated a Buy rating on GDP, with a price target of $4, which represents a potential upside of 455.8% from where the stock is currently trading. Separately, on July 28, Northland Securities’ Jeff Grampp reiterated a Hold rating on the stock and has a price target of $1.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Leo Mariani and Jeff Grampp have a total average return of -7.5% and -20.9% respectively. Mariani has a success rate of 34.6% and is ranked #3616 out of 3788 analysts, while Grampp has a success rate of 38.1% and is ranked #3748.
Goodrich Petroleum Corp is an independent oil & natural gas company engaged in the exploration, development & production of oil & natural gas on properties in South Texas, Northwest Louisiana & East Texas & Southwest Mississippi & Southeast Louisiana.