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Upgrade Alert for Goodrich Petroleum (GDP)

By David Diaz

Goodrich Petroleum (NYSE:GDP) was upgraded from In-Line to Outperform at Imperial Capital today. The stock closed yesterday at $24.34 on volume of 4.1 million shares, above average daily volume of 2.1 million.

In the past 52 weeks, shares of Goodrich Petroleum have traded between a low of $11.16 and a high of $28.55 and closed yesterday at $24.34, which is 118% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 2.2% while the 200-day MA has risen 0.8%.

Based on a current price of $24.34, Goodrich Petroleum is currently 7.7% above its average consensus analyst price target of $22.48. Goodrich Petroleum shares have support at the 200-day moving average (MA) of $19.06 and additional support at the 50-day MA of $15.79.

Goodrich Petroleum Corporation and its subsidiaries explore, develop, produce, and acquire oil and natural gas properties. The Company's properties are located in the onshore portions of the United States, primarily in Louisiana and Texas.

SmarTrend is monitoring the recent change of momentum in Goodrich Petroleum. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Goodrich Petroleum in search of a potential trend change.

Keywords: analyst upgrades/downgrades goodrich petroleum

Ticker(s): GDP