Gulfport Energy Co. (NASDAQ:GPOR) – Equities researchers at Jefferies Group decreased their FY2019 earnings per share (EPS) estimates for shares of Gulfport Energy in a research note issued to investors on Monday. Jefferies Group analyst Z. Parham now anticipates that the oil and gas producer will earn $1.19 per share for the year, down from their prior forecast of $1.61. Jefferies Group currently has a “Buy” rating and a $15.00 target price on the stock.
Gulfport Energy (NASDAQ:GPOR) last posted its quarterly earnings results on Wednesday, February 21st. The oil and gas producer reported $0.45 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.39 by $0.06. The business had revenue of $397.85 million during the quarter, compared to analyst estimates of $337.95 million. Gulfport Energy had a net margin of 32.96% and a return on equity of 8.64%. During the same period in the prior year, the business posted $0.34 earnings per share.
A number of other equities analysts have also weighed in on the stock. Credit Suisse Group began coverage on shares of Gulfport Energy in a research report on Monday, December 11th. They set a “neutral” rating and a $15.00 target price for the company. BidaskClub lowered shares of Gulfport Energy from a “hold” rating to a “sell” rating in a research report on Friday, February 2nd. Mizuho set a $18.00 target price on shares of Gulfport Energy and gave the stock a “buy” rating in a research report on Tuesday, January 16th. KeyCorp dropped their target price on shares of Gulfport Energy from $18.00 to $15.00 and set a “buy” rating for the company in a research report on Tuesday, January 30th. Finally, Williams Capital set a $18.00 target price on shares of Gulfport Energy and gave the stock a “buy” rating in a research report on Thursday, December 21st. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and fifteen have given a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $18.54.
GPOR stock traded up $0.41 on Wednesday, hitting $9.84. 3,157,535 shares of the company’s stock were exchanged, compared to its average volume of 4,827,732. The company has a market capitalization of $1,752.32, a price-to-earnings ratio of 4.00, a P/E/G ratio of 0.37 and a beta of 0.42. Gulfport Energy has a fifty-two week low of $8.11 and a fifty-two week high of $17.82. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.66.
Institutional investors have recently added to or reduced their stakes in the stock. State of Alaska Department of Revenue purchased a new stake in Gulfport Energy during the fourth quarter valued at $137,000. BKS Advisors LLC purchased a new stake in Gulfport Energy during the third quarter valued at $161,000. Oakbrook Investments LLC purchased a new stake in Gulfport Energy during the fourth quarter valued at $180,000. Delpha Capital Management LLC purchased a new stake in Gulfport Energy during the fourth quarter valued at $187,000. Finally, Crossmark Global Holdings Inc. purchased a new stake in Gulfport Energy during the third quarter valued at $211,000. 88.69% of the stock is currently owned by institutional investors.
In other Gulfport Energy news, Director Paul D. Westerman purchased 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 27th. The shares were bought 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 in the company, valued at $258,448.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.21% of the stock is owned by corporate insiders.
Gulfport Energy announced that its Board of Directors has authorized a stock buyback plan on Monday, January 29th that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the oil and gas producer to buy shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.
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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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