Company Update (NYSE:GDP): Goodrich Petroleum Corporation Appoints New Chairman Of The Board

Goodrich Petroleum Corporation (NYSE:GDP) announced that on May 29, 2015 the Board of Directors (the “Board”) appointed Mr. Walter G. “Gil” Goodrich to the position of Chairman of the Board of Directors, replacing Patrick E. Malloy, III who retired on May 11, 2015.  Mr. Goodrich has served as Vice Chairman of the Board since 2003 and as the Company’s Chief Executive Officer and a Director since 1995.

Goodrich Petroleum Corporation is an independent oil and natural gas exploration and production company whose common stock is listed on the New York Stock Exchange under the symbol GDP. (Original Source)

Shares of Goodrich Petroleum closed yesterday at $2.75 . GDP has a 1-year high of $30.18 and a 1-year low of $2.35. The stock’s 50-day moving average is $3.50 and its 200-day moving average is $3.96.

On the ratings front, Goodrich Petroleum has been the subject of a number of recent research reports. In a report issued on May 7, Imperial analyst Kim Pacanovsky reiterated a Buy rating on GDP, with a price target of $7, which implies an upside of 154.5% from current levels. Separately, on May 6, Canaccord Genuity’s Stephen Berman reiterated a Hold rating on the stock and has a price target of $3.50.

According to, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Kim Pacanovsky and Stephen Berman have a total average return of -26.2% and -18.9% respectively. Pacanovsky has a success rate of 27.8% and is ranked #3605 out of 3610 analysts, while Berman has a success rate of 28.3% and is ranked #3603.

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.

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