Zacks Investment Research upgraded shares of Gulfport Energy (NASDAQ:GPOR) from a sell rating to a hold rating in a research note issued to investors on Tuesday, February 27th.
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. “
Several other equities research analysts have also recently commented on the stock. Morgan Stanley reiterated an underweight rating and set a $13.00 price target on shares of Gulfport Energy in a research report on Thursday, December 14th. JPMorgan Chase & Co. upgraded shares of Gulfport Energy from a neutral rating to an overweight rating and set a $18.00 price objective for the company in a report on Friday, December 15th. SunTrust Banks reaffirmed a buy rating and issued a $26.00 price target on shares of Gulfport Energy in a research note on Friday, December 8th. Piper Jaffray Companies reaffirmed a buy rating and issued a $20.00 price target on shares of Gulfport Energy in a research note on Tuesday, January 9th. Finally, Credit Suisse Group cut their price objective on shares of Gulfport Energy from $15.00 to $13.00 and set a neutral rating on the stock in a research report on Tuesday, January 30th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and fifteen have assigned a buy rating to the company. Gulfport Energy has an average rating of Buy and an average target price of $18.82.
Gulfport Energy (NASDAQ GPOR) traded down $0.18 during trading hours on Tuesday, hitting $10.61. 3,826,662 shares of the stock were exchanged, compared to its average volume of 4,863,377. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 0.66. The company has a market cap of $1,960.00, a P/E ratio of 4.37, a price-to-earnings-growth ratio of 0.28 and a beta of 0.42. Gulfport Energy has a one year low of $8.11 and a one year high of $17.82.
Gulfport Energy (NASDAQ:GPOR) last posted its quarterly earnings data on Wednesday, February 21st. The oil and gas producer reported $0.45 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.06. The firm had revenue of $397.85 million during the quarter, compared to analysts’ expectations of $337.95 million. Gulfport Energy had a net margin of 32.96% and a return on equity of 8.64%. During the same quarter last year, the company posted $0.34 EPS. equities research analysts predict that Gulfport Energy will post 1.3 earnings per share for the current fiscal year.
Gulfport Energy declared that its board has approved a stock buyback plan on Monday, January 29th that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the oil and gas producer to purchase shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its shares are undervalued.
In related news, CFO Keri Crowell sold 16,000 shares of the company’s stock in a transaction dated Friday, December 15th. The shares were sold at an average price of $12.16, for a total value of $194,560.00. Following the transaction, the chief financial officer now directly owns 81,092 shares in the company, valued at $986,078.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Steve Baldwin sold 4,000 shares of the company’s stock in a transaction dated Friday, December 15th. The shares were sold at an average price of $12.17, for a total transaction of $48,680.00. Following the completion of the transaction, the vice president now owns 32,634 shares in the company, valued at $397,155.78. The disclosure for this sale can be found here. Over the last quarter, insiders sold 151,253 shares of company stock worth $1,839,219. Corporate insiders own 0.21% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the stock. State of Alaska Department of Revenue acquired a new position in shares of Gulfport Energy in the fourth quarter valued at about $137,000. BKS Advisors LLC acquired a new position in shares of Gulfport Energy in the third quarter valued at about $161,000. Oakbrook Investments LLC acquired a new position in shares of Gulfport Energy in the fourth quarter valued at about $180,000. Cubist Systematic Strategies LLC grew its stake in shares of Gulfport Energy by 28,700.0% in the second quarter. Cubist Systematic Strategies LLC now owns 14,400 shares of the oil and gas producer’s stock valued at $212,000 after acquiring an additional 14,350 shares in the last quarter. Finally, Delpha Capital Management LLC acquired a new position in shares of Gulfport Energy in the fourth quarter valued at about $187,000. Institutional investors and hedge funds own 88.69% of the company’s stock.
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Gulfport Energy Company Profile
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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