Gulfport Energy Co. (NASDAQ:GPOR) – Research analysts at Seaport Global Securities lowered their Q1 2018 earnings estimates for Gulfport Energy in a report released on Wednesday. Seaport Global Securities analyst M. Kelly now forecasts that the oil and gas producer will post earnings per share of $0.25 for the quarter, down from their previous estimate of $0.26. Seaport Global Securities also issued estimates for Gulfport Energy’s Q2 2018 earnings at $0.21 EPS, Q3 2018 earnings at $0.22 EPS, Q1 2019 earnings at $0.25 EPS, Q2 2019 earnings at $0.18 EPS, Q3 2019 earnings at $0.18 EPS, Q4 2019 earnings at $0.24 EPS and FY2019 earnings at $0.85 EPS.
A number of other equities analysts also recently weighed in on GPOR. BidaskClub downgraded Gulfport Energy from a “hold” rating to a “sell” rating in a report on Thursday. Jefferies Group set a $15.00 price objective on Gulfport Energy and gave the stock a “buy” rating in a report on Monday, March 19th. Piper Jaffray Companies set a $16.00 price objective on Gulfport Energy and gave the stock a “buy” rating in a report on Wednesday, March 14th. ValuEngine downgraded Gulfport Energy from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. Finally, Williams Capital set a $17.00 price objective on Gulfport Energy and gave the stock a “buy” rating in a report on Thursday, February 22nd. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and fifteen have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $18.41.
Gulfport Energy (NASDAQ:GPOR) last issued its earnings results on Wednesday, February 21st. The oil and gas producer reported $0.45 earnings per share for the quarter, beating analysts’ consensus estimates of $0.39 by $0.06. The company had revenue of $397.85 million for the quarter, compared to the consensus estimate of $337.95 million. Gulfport Energy had a return on equity of 8.64% and a net margin of 32.96%. During the same quarter in the prior year, the company earned $0.34 EPS.
Institutional investors have recently made changes to their positions in the business. California Public Employees Retirement System boosted its position in shares of Gulfport Energy by 1.9% in the third quarter. California Public Employees Retirement System now owns 731,188 shares of the oil and gas producer’s stock valued at $10,485,000 after acquiring an additional 13,888 shares during the period. Boothbay Fund Management LLC bought a new stake in shares of Gulfport Energy in the third quarter valued at approximately $292,000. Dimensional Fund Advisors LP boosted its position in shares of Gulfport Energy by 57.7% in the third quarter. Dimensional Fund Advisors LP now owns 5,141,604 shares of the oil and gas producer’s stock valued at $73,731,000 after acquiring an additional 1,881,196 shares during the period. Swiss National Bank boosted its position in shares of Gulfport Energy by 4.0% in the third quarter. Swiss National Bank now owns 275,258 shares of the oil and gas producer’s stock valued at $3,947,000 after acquiring an additional 10,700 shares during the period. Finally, Systematic Financial Management LP boosted its position in shares of Gulfport Energy by 8.1% in the third quarter. Systematic Financial Management LP now owns 543,303 shares of the oil and gas producer’s stock valued at $7,791,000 after acquiring an additional 40,577 shares during the period. 88.69% of the stock is owned by hedge funds and other institutional investors.
In related news, Director Paul D. Westerman bought 10,000 shares of the firm’s stock in a transaction on Tuesday, February 27th. The stock was purchased at an average price of $10.14 per share, with a total value of $101,400.00. Following the completion of the transaction, the director now directly owns 25,488 shares of the company’s stock, valued at $258,448.32. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.31% of the stock is owned by corporate insiders.
Gulfport Energy announced that its board has authorized a stock repurchase plan on Monday, January 29th that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the oil and gas producer to repurchase shares of its stock through open market purchases. Shares repurchase plans are typically a sign that the company’s management believes its shares are undervalued.
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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