Gulfport Energy (NASDAQ:GPOR) had its target price upped by investment analysts at Morgan Stanley from $7.00 to $9.00 in a report released on Thursday. The brokerage currently has an “underweight” rating on the oil and gas producer’s stock. Morgan Stanley’s price objective points to a potential downside of 13.66% from the company’s current price.
A number of other brokerages have also recently weighed in on GPOR. Zacks Investment Research cut Gulfport Energy from a “hold” rating to a “sell” rating in a research report on Friday, January 26th. KeyCorp lowered their price target on Gulfport Energy from $18.00 to $15.00 and set a “buy” rating on the stock in a research report on Tuesday, January 30th. Williams Capital set a $17.00 price target on Gulfport Energy and gave the company a “buy” rating in a research report on Tuesday, January 30th. Credit Suisse Group lowered their price target on Gulfport Energy from $15.00 to $13.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 30th. Finally, Wolfe Research cut Gulfport Energy from a “market perform” rating to an “underperform” rating in a research report on Wednesday, May 16th. Three research analysts have rated the stock with a sell rating, five have issued a hold rating and seventeen have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $17.20.
Shares of GPOR traded down $0.17 on Thursday, reaching $10.42. 834,240 shares of the stock traded hands, compared to its average volume of 4,178,716. The stock has a market cap of $1.85 billion, a PE ratio of 7.39, a P/E/G ratio of 0.38 and a beta of 0.30. The company has a current ratio of 0.61, a quick ratio of 0.61 and a debt-to-equity ratio of 0.73. Gulfport Energy has a 12 month low of $8.11 and a 12 month high of $16.06.
Gulfport Energy (NASDAQ:GPOR) last released its quarterly earnings data on Tuesday, May 8th. The oil and gas producer reported $0.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.42 by $0.14. Gulfport Energy had a return on equity of 10.03% and a net margin of 28.25%. The business had revenue of $325.40 million for the quarter, compared to analysts’ expectations of $354.46 million. During the same period in the previous year, the business posted $0.32 earnings per share. Gulfport Energy’s quarterly revenue was down 2.3% on a year-over-year basis. equities analysts forecast that Gulfport Energy will post 1.4 earnings per share for the current fiscal year.
Gulfport Energy declared that its Board of Directors has initiated a stock repurchase plan 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 plans are usually a sign that the company’s leadership believes its stock is undervalued.
In other news, Director Paul D. Westerman purchased 10,000 shares of the business’s stock in a transaction dated Tuesday, February 27th. The shares were acquired at an average price of $10.14 per share, with a total value of $101,400.00. Following the completion of the purchase, the director now directly owns 25,488 shares of the company’s stock, valued at approximately $258,448.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.31% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in GPOR. Nisa Investment Advisors LLC lifted its stake in Gulfport Energy by 8,800.0% in the fourth quarter. Nisa Investment Advisors LLC now owns 17,800 shares of the oil and gas producer’s stock valued at $227,000 after buying an additional 17,600 shares during the period. Bank of Montreal Can lifted its stake in Gulfport Energy by 20.1% in the fourth quarter. Bank of Montreal Can now owns 83,363 shares of the oil and gas producer’s stock valued at $1,063,000 after buying an additional 13,928 shares during the period. Schwab Charles Investment Management Inc. lifted its stake in Gulfport Energy by 5.3% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 567,997 shares of the oil and gas producer’s stock valued at $7,248,000 after buying an additional 28,735 shares during the period. Oakbrook Investments LLC acquired a new stake in shares of Gulfport Energy during the fourth quarter worth about $180,000. Finally, State of Alaska Department of Revenue acquired a new stake in shares of Gulfport Energy during the fourth quarter worth about $137,000. 92.27% of the stock is currently owned by hedge funds and other institutional investors.
About Gulfport Energy
Gulfport Energy Corporation engages in the acquisition, exploration, exploitation, and production of natural gas, crude oil, and natural gas liquids (NGLs) in the United States. Its principal properties are located in the Utica Shale primarily in Eastern Ohio; and the SCOOP Woodford and SCOOP Springer plays in Oklahoma.
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