Gulfport Energy (NASDAQ:GPOR) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Thursday, February 1st.
According to Zacks, “Gulfport Energy Corporation is an independent natural gas and oil company focused on the exploration and development of natural gas and oil properties in North America and is one of the largest producers of natural gas in the contiguous United States. Headquartered in Oklahoma City, Gulfport holds significant acreage positions in the Utica Shale of Eastern Ohio and the SCOOP Woodford and SCOOP Springer plays in Oklahoma. In addition, Gulfport holds an acreage position along the Louisiana Gulf Coast, a position in the Alberta Oil Sands in Canada. “
GPOR has been the topic of several other research reports. Jefferies Group reaffirmed a “buy” rating and issued a $18.00 target price on shares of Gulfport Energy in a research note on Thursday, October 12th. Mizuho reaffirmed a “buy” rating and issued a $23.00 target price on shares of Gulfport Energy in a research note on Wednesday, October 4th. Scotiabank reaffirmed a “buy” rating and issued a $23.00 target price on shares of Gulfport Energy in a research note on Monday, October 9th. Morgan Stanley raised their target price on shares of Gulfport Energy from $12.00 to $13.00 and gave the company an “underweight” rating in a research note on Wednesday, October 18th. Finally, SunTrust Banks reaffirmed a “buy” rating and issued a $25.00 target price on shares of Gulfport Energy in a research note on Tuesday, October 24th. Three analysts have rated the stock with a sell rating, six have given a hold rating and fifteen have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $19.10.
Shares of Gulfport Energy (NASDAQ:GPOR) traded up $0.29 during trading hours on Thursday, reaching $8.84. 7,076,717 shares of the company’s stock were exchanged, compared to its average volume of 5,362,473. Gulfport Energy has a 12-month low of $8.31 and a 12-month high of $21.36. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 0.67. The company has a market cap of $1,618.44, a price-to-earnings ratio of -32.74, a P/E/G ratio of 0.22 and a beta of 0.41.
Gulfport Energy declared that its board has authorized a stock repurchase program on Monday, January 29th that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the oil and gas producer to reacquire shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.
In other Gulfport Energy news, VP Steve Baldwin sold 4,000 shares of the firm’s stock in a transaction that occurred on Friday, December 15th. The shares were sold at an average price of $12.17, for a total transaction of $48,680.00. Following the sale, the vice president now directly owns 32,634 shares in the company, valued at approximately $397,155.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Michael G. Moore sold 118,494 shares of the firm’s stock in a transaction that occurred on Friday, December 15th. The stock was sold at an average price of $12.16, for a total transaction of $1,440,887.04. Following the sale, the chief executive officer now owns 295,449 shares in the company, valued at $3,592,659.84. The disclosure for this sale can be found here. Insiders have sold a total of 151,253 shares of company stock worth $1,839,219 in the last three months. 0.31% of the stock is owned by insiders.
A number of hedge funds have recently made changes to their positions in the business. Arrowstreet Capital Limited Partnership acquired a new stake in Gulfport Energy during the 4th quarter worth approximately $978,000. Systematic Financial Management LP raised its holdings in Gulfport Energy by 14.9% during the 4th quarter. Systematic Financial Management LP now owns 623,996 shares of the oil and gas producer’s stock worth $7,962,000 after buying an additional 80,693 shares during the period. Virtu Financial LLC raised its holdings in Gulfport Energy by 151.4% during the 4th quarter. Virtu Financial LLC now owns 39,577 shares of the oil and gas producer’s stock worth $505,000 after buying an additional 23,835 shares during the period. UBS Asset Management Americas Inc. raised its holdings in Gulfport Energy by 4.9% during the 4th quarter. UBS Asset Management Americas Inc. now owns 149,397 shares of the oil and gas producer’s stock worth $1,906,000 after buying an additional 6,989 shares during the period. Finally, Schroder Investment Management Group raised its holdings in Gulfport Energy by 39.1% during the 4th quarter. Schroder Investment Management Group now owns 4,278,562 shares of the oil and gas producer’s stock worth $54,594,000 after buying an additional 1,202,052 shares during the period. Hedge funds and other institutional investors own 85.18% of the company’s stock.
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About Gulfport Energy
Gulfport Energy Corporation is an oil and natural gas exploration and production company. The Company focuses on the exploitation and acquisition of natural gas, natural gas liquids and crude oil in the United States. The Company’s properties are located in the Utica Shale in Eastern Ohio and along the Louisiana Gulf Coast in the West Cote Blanche Bay (WCBB) and Hackberry fields.
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