Gulfport Energy (GPOR) Cut to Underperform at Wolfe Research

Wolfe Research cut shares of Gulfport Energy (NASDAQ:GPOR) from a market perform rating to an underperform rating in a report published on Wednesday morning.

A number of other brokerages have also commented on GPOR. Williams Capital set a $14.00 price objective on shares of Gulfport Energy and gave the stock a buy rating in a research report on Wednesday, May 9th. KeyCorp cut their price objective on shares of Gulfport Energy from $18.00 to $15.00 and set a buy rating on the stock in a research report on Tuesday, January 30th. BidaskClub raised shares of Gulfport Energy from a sell rating to a hold rating in a research report on Monday, March 5th. Mizuho set a $18.00 price objective on shares of Gulfport Energy and gave the stock a buy rating in a research report on Tuesday, January 16th. Finally, Zacks Investment Research raised shares of Gulfport Energy from a sell rating to a hold rating in a research report on Tuesday, February 27th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and seventeen have assigned a buy rating to the company’s stock. The company has a consensus rating of Buy and an average price target of $17.32.

Gulfport Energy stock opened at $10.65 on Wednesday. The company has a market capitalization of $1.93 billion, a PE ratio of 7.55, a P/E/G ratio of 0.41 and a beta of 0.30. Gulfport Energy has a twelve month low of $8.11 and a twelve month high of $16.32. The company has a quick ratio of 0.61, a current ratio of 0.61 and a debt-to-equity ratio of 0.73.

Gulfport Energy (NASDAQ:GPOR) last announced its quarterly earnings data on Tuesday, May 8th. The oil and gas producer reported $0.56 EPS for the quarter, topping the Zacks’ consensus estimate of $0.42 by $0.14. The business had revenue of $325.40 million for the quarter, compared to analyst estimates of $354.46 million. Gulfport Energy had a net margin of 28.25% and a return on equity of 10.03%. The firm’s revenue for the quarter was down 2.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.32 earnings per share. equities research analysts predict that Gulfport Energy will post 1.36 EPS for the current fiscal year.

Gulfport Energy announced that its board has initiated a stock buyback program 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 repurchase shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s management believes its stock is undervalued.

In other news, Director Paul D. Westerman purchased 10,000 shares of the company’s stock in a transaction on Tuesday, February 27th. The shares were purchased at an average cost of $10.14 per share, with a total value of $101,400.00. Following the completion of the transaction, the director now owns 25,488 shares of the company’s stock, valued at approximately $258,448.32. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 0.31% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of GPOR. BlackRock Inc. increased its holdings in shares of Gulfport Energy by 2.8% in the first quarter. BlackRock Inc. now owns 14,626,928 shares of the oil and gas producer’s stock valued at $141,151,000 after purchasing an additional 392,137 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Gulfport Energy by 45.1% in the first quarter. Dimensional Fund Advisors LP now owns 11,489,373 shares of the oil and gas producer’s stock valued at $110,872,000 after purchasing an additional 3,568,750 shares during the last quarter. Schroder Investment Management Group increased its holdings in shares of Gulfport Energy by 21.9% in the first quarter. Schroder Investment Management Group now owns 5,216,960 shares of the oil and gas producer’s stock valued at $50,343,000 after purchasing an additional 938,398 shares during the last quarter. Rubric Capital Management LP increased its holdings in shares of Gulfport Energy by 1,198.2% in the first quarter. Rubric Capital Management LP now owns 4,933,204 shares of the oil and gas producer’s stock valued at $47,605,000 after purchasing an additional 4,553,204 shares during the last quarter. Finally, Boston Partners increased its holdings in shares of Gulfport Energy by 1.2% in the first quarter. Boston Partners now owns 4,577,419 shares of the oil and gas producer’s stock valued at $44,172,000 after purchasing an additional 54,323 shares during the last quarter. 92.46% 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.

Analyst Recommendations for Gulfport Energy (NASDAQ:GPOR)

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