Gulfport Energy Co. (NASDAQ:GPOR) – Research analysts at Seaport Global Securities boosted their FY2018 earnings per share (EPS) estimates for shares of Gulfport Energy in a note issued to investors on Wednesday. Seaport Global Securities analyst M. Kelly now anticipates that the oil and gas producer will post earnings of $0.97 per share for the year, up from their prior forecast of $0.95. Seaport Global Securities also issued estimates for Gulfport Energy’s Q4 2018 earnings at $0.29 EPS.
A number of other equities research analysts also recently weighed in on the company. Zacks Investment Research raised Gulfport Energy from a “sell” rating to a “hold” rating in a research report on Saturday. BidaskClub downgraded Gulfport Energy from a “hold” rating to a “sell” rating in a research report on Thursday. Jefferies Group set a $15.00 price target on Gulfport Energy and gave the company a “buy” rating in a research note on Monday, March 19th. Piper Jaffray Companies set a $16.00 price target on Gulfport Energy and gave the company a “buy” rating in a research note on Wednesday, March 14th. Finally, Williams Capital set a $17.00 price target on Gulfport Energy and gave the company a “buy” rating in a research note on Thursday, February 22nd. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and fifteen have given a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $18.41.
Gulfport Energy (NASDAQ:GPOR) last issued its quarterly earnings data 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. Gulfport Energy had a return on equity of 8.64% and a net margin of 32.96%. The company had revenue of $397.85 million for the quarter, compared to the consensus estimate of $337.95 million. During the same quarter last year, the company earned $0.34 earnings per share.
Several large investors have recently made changes to their positions in GPOR. Dimensional Fund Advisors LP raised its stake 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 worth $73,731,000 after purchasing an additional 1,881,196 shares during the last quarter. Schroder Investment Management Group raised its stake in shares of Gulfport Energy by 39.1% in the fourth quarter. Schroder Investment Management Group now owns 4,278,562 shares of the oil and gas producer’s stock worth $54,594,000 after purchasing an additional 1,202,052 shares during the last quarter. Janus Henderson Group PLC raised its stake in shares of Gulfport Energy by 22.6% in the third quarter. Janus Henderson Group PLC now owns 6,467,222 shares of the oil and gas producer’s stock worth $92,740,000 after purchasing an additional 1,193,723 shares during the last quarter. Allianz Asset Management GmbH raised its stake in shares of Gulfport Energy by 176.1% in the third quarter. Allianz Asset Management GmbH now owns 1,063,003 shares of the oil and gas producer’s stock worth $15,243,000 after purchasing an additional 678,003 shares during the last quarter. Finally, Encompass Capital Advisors LLC raised its stake in shares of Gulfport Energy by 16.0% in the fourth quarter. Encompass Capital Advisors LLC now owns 4,475,301 shares of the oil and gas producer’s stock worth $57,105,000 after purchasing an additional 618,793 shares during the last quarter. Hedge funds and other institutional investors own 88.69% of the company’s stock.
In other news, Director Paul D. Westerman acquired 10,000 shares of Gulfport Energy stock in a transaction dated Tuesday, February 27th. The stock was purchased at an average cost of $10.14 per share, for a total transaction of $101,400.00. Following the completion of the purchase, the director now directly owns 25,488 shares in the company, valued at approximately $258,448.32. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.31% of the company’s stock.
Gulfport Energy declared that its Board of Directors has initiated a stock repurchase program on Monday, January 29th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the oil and gas producer to repurchase shares of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.
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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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