Zacks Investment Research upgraded shares of Gulfport Energy (NASDAQ:GPOR) from a sell rating to a hold rating in a report issued on Saturday morning.
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. “
A number of other analysts have also recently commented on the company. Morgan Stanley restated an underweight rating and issued a $13.00 price target on shares of Gulfport Energy in a research report on Thursday, December 14th. JPMorgan Chase & Co. upgraded Gulfport Energy from a neutral rating to an overweight rating and set a $18.00 target price for the company in a research report on Friday, December 15th. SunTrust Banks reiterated a buy rating and set a $26.00 target price on shares of Gulfport Energy in a research report on Friday, December 8th. Piper Jaffray Companies reiterated a buy rating and set a $20.00 target price on shares of Gulfport Energy in a research report on Tuesday, January 9th. Finally, BidaskClub cut Gulfport Energy from a sell rating to a strong sell rating in a research report on Thursday, February 15th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and fifteen have issued a buy rating to the company’s stock. The stock has a consensus rating of Buy and an average target price of $18.41.
Gulfport Energy (NASDAQ:GPOR) last issued its quarterly earnings results on Wednesday, February 21st. The oil and gas producer reported $0.45 EPS for the quarter, topping analysts’ consensus estimates of $0.39 by $0.06. The business had revenue of $397.85 million during the quarter, compared to analysts’ expectations 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 business posted $0.34 earnings per share. sell-side analysts expect that Gulfport Energy will post 1.29 EPS for the current year.
Gulfport Energy declared that its Board of Directors has approved a share repurchase plan on Monday, January 29th that permits the company to buyback $100.00 million in shares. This buyback authorization permits the oil and gas producer to repurchase shares of its stock through open market purchases. Shares buyback plans are typically an indication that the company’s management believes its shares are undervalued.
In other news, Director Paul D. Westerman purchased 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 27th. The stock was bought at an average cost of $10.14 per share, with a total value of $101,400.00. Following the completion of the purchase, the director now owns 25,488 shares in the company, valued at $258,448.32. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.31% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently made changes to their positions in the stock. Janus Henderson Group PLC boosted its stake in Gulfport Energy by 22.6% during the third quarter. Janus Henderson Group PLC now owns 6,467,222 shares of the oil and gas producer’s stock valued at $92,740,000 after buying an additional 1,193,723 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Gulfport Energy by 57.7% during 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 buying an additional 1,881,196 shares during the last quarter. Boston Partners boosted its stake in Gulfport Energy by 7.7% during the fourth quarter. Boston Partners now owns 4,523,096 shares of the oil and gas producer’s stock valued at $57,714,000 after buying an additional 321,810 shares during the last quarter. Alyeska Investment Group L.P. lifted its stake in shares of Gulfport Energy by 7.0% in the 3rd quarter. Alyeska Investment Group L.P. now owns 4,522,206 shares of the oil and gas producer’s stock valued at $64,848,000 after purchasing an additional 293,973 shares during the last quarter. Finally, Encompass Capital Advisors LLC lifted its stake in shares of Gulfport Energy by 16.0% in the 4th quarter. Encompass Capital Advisors LLC now owns 4,475,301 shares of the oil and gas producer’s stock valued at $57,105,000 after purchasing an additional 618,793 shares during the last quarter. 88.69% of the stock is owned by institutional investors.
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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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