NEW YORK (TheStreet) -- Goodrich Petroleum Corp. (GDP) was upgraded by Macquarie to "neutral" from "underperform" in a research note today.
The firm has a $14 target price on the shares.
I am working up a profile on GDP. Macquarie is a first class firm, so their upgrade is definitely worth noting.
GDP
Re: GDP
As I pointed out in the profile we published on GDP last week, First Call's Target Price of $31.48 is ridiculously high. However, GDP is approaching 12,000 boepd of production, so it is worth something. Macquarie is a first class outfit and they valued it at $14.00 on October 8.
Some fund with a large position may have been forced to dump it today. There is no news to justify this selloff.
Some fund with a large position may have been forced to dump it today. There is no news to justify this selloff.
Dan Steffens
Energy Prospectus Group
Energy Prospectus Group
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wilmawatts
- Posts: 685
- Joined: Fri Apr 01, 2011 10:12 am
Re: GDP
Financial Times had an article today on how shale might not be viable. Costs to much and Saudis will keep oil prices low.
So shalers are really in a tough bind, so the article says.
I don't believe it, demand and supply should balance oil prices somewhere between $85 a barrel and $115 - which will be profitable for many prospects.
So shalers are really in a tough bind, so the article says.
I don't believe it, demand and supply should balance oil prices somewhere between $85 a barrel and $115 - which will be profitable for many prospects.