Goodrich Petroleum (NYSE: GDP) was downgraded by analysts at Tudor Pickering from a “buy” rating to an “accumulate” rating in a research report issued to clients and investors on Monday.
Separately, analysts at Citigroup (NYSE: C) initiated coverage on shares of Goodrich Petroleum in a research note to investors on Friday. They set a “neutral” rating on the stock. Analysts at Capital One downgraded shares of Goodrich Petroleum from a “buy” rating to a “neutral” rating in a research note to investors on Wednesday, January 18th. Also, analysts at Canaccord Genuity reiterated a “buy” rating on shares of Goodrich Petroleum in a research note to investors on Tuesday, January 17th.
Goodrich Petroleum Corporation is an independent oil and gas company engaged in the exploration, exploitation, development and production of oil and natural gas properties primarily in East Texas and Northwest Louisiana. As of December 31, 2009, the Company owned working interests in 466 active oil and gas wells located in 24 fields in six states. As of December 31, 2009, it had estimated proved reserves of approximately 415.3 billion cubic feet (Bcf) of natural gas and 0.9 million barrels (MMBbls) of oil and condensate. In December 2009, the Company acquired lease interests in approximately 12,000 net acres in Nacogdoches and Angelina Counties of Texas. In April 2010, the Company acquired 35,000 net acres in the oil window of the Eagle Ford Shale.
Goodrich Petroleum traded down 3.28% on Monday, hitting $17.69. Goodrich Petroleum has a 1-year low of $9.91 and a 1-year high of $23.80. The stock has a 50-day moving average of $14.77 and a 200-day moving average of $15.3. The company’s market cap is $639.1 million.