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Goodrich Petroleum Corporation (GDP) [hlAlert]

Rating:
Buy GDP
down 97.66 %

Goodrich Petroleum Corporation (GDP) rated Buy with price target $44 by SMH Capital

Posted on: Monday,  Nov 17, 2008  9:25 AM ET by SMH Capital

SMH Capital rated Buy Goodrich Petroleum Corporation (NYSE: GDP) on 11/17/2008, when the stock price was $29.13. Since
then, Goodrich Petroleum Corporation has lost 97.67% as of 12/01/2015's recent price of $0.68.
If you would have followed this SMH Capital's recommendation on GDP, you would have lost 97.66% of your investment in 2570 days.

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 the Cotton Valley trend of East Texas and Northwest Louisiana. As of December 31, 2008, the Company owned working interests in 414 active oil and gas wells located in thirty fields in six states. At December 31, 2008, Goodrich had estimated proved reserves of approximately 390.4 billion cubic feet (Bcf) of natural gas and 1.9 million barrels (MMBbls) of oil and condensate, or an aggregate of 402.3 billion cubic feet equivalent (Bcfe). In 2008, the Company drilled and completed 126 gross wells. In June 2008, Goodrich and Chesapeake Energy Corporation announced that they have entered into a joint venture to develop Goodrich?s Haynesville Shale acreage in the Bethany-Longstreet and Longwood fields of Caddo and DeSoto Parishes, Louisiana.

Sanders Morris Harris has built a unique, niche-oriented research effort that's attuned to the Southwest, yet takes a broad, global perspective. Our analysts cover some 100 companies in six broad sectors, including business services; energy; entertainment & media; financial services; and technology. Whatever the geographical focus, our research approach is fundamental and no-nonsense. We look at industries in a bottom-up way, and get to know company managements in depth, to understand their growth philosophy and their views of how their company fits within their group. And we provide straightforward, timely advice to both institutional and private clients based on that research. Unlike many Wall Street firms, which have developed arcane "recommendation matrixes," we have three simple categories of investment advice: buy, sell and hold. And we transmit our recommendations in timely, useful form. Our on-line Research Library gives clients access to the full range of company reports and bulletins generated by our analytical staff. Above all, of course, the success of SMH's research effort rests on its gifted team of analysts - a purposeful blend of experienced research pros and young, creative individuals, all of whom have honed their financial skills within the target industry or with major accounting firms. The combination works. Three of our analysts have appeared on the Wall Street Journal roster of All-Star Analysts or on the Institutional Investor's All-Star Research Team.
Stock Market Advice
Date/Time (ET)SymbolRatingTermPrice (*)Target
11/17/2008 9:25 AM Buy
None
29.13 44.00
as of 12/24/2008
1 Week down  -14.93 %
1 Month up  0.77 %
3 Months down  -28.83 %
1 YTD down  -28.83 %

(*) Stock Price at the time of the recommendation.
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