Northland Securities Sticks to Their Buy Rating for Goodrich Petroleum Corp (GDP)


In a report issued on March 17, Jeff Grampp from Northland Securities maintained a Buy rating on Goodrich Petroleum Corp (GDP), with a price target of $22. The company’s shares closed yesterday at $13.10.

According to TipRanks.com, Grampp has currently no stars on a ranking scale of 0-5 stars, with an average return of -10.1% and a 35.3% success rate. Grampp covers the Basic Materials sector, focusing on stocks such as Sundance Energy Australia, Lonestar Resources US, and Northern Oil And Gas.

Currently, the analyst consensus on Goodrich Petroleum Corp is a Moderate Buy with an average price target of $22.

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Based on Goodrich Petroleum Corp’s latest earnings release for the quarter ending December 31, the company reported a quarterly net profit of $8.07 million. In comparison, last year the company had a GAAP net loss of $1.78 million.

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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.

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