Truist Financial Begins Coverage on Gulfport Energy (NYSE:GPOR)

Analysts at Truist Financial initiated coverage on shares of Gulfport Energy (NYSE:GPOR) in a research note issued on Tuesday. The firm set a “hold” rating and a $230.00 price target on the stock. Truist Financial’s target price would indicate a potential upside of 11.08% from the stock’s current price.

Several other equities research analysts also recently issued reports on the company. Wolfe Research downgraded Gulfport Energy from an “outperform” rating to a “peer perform” rating in a research note on Monday, January 5th. Wall Street Zen cut Gulfport Energy from a “buy” rating to a “hold” rating in a research note on Saturday, February 28th. Bank of America upped their target price on Gulfport Energy from $215.00 to $237.00 and gave the company a “buy” rating in a report on Thursday, March 19th. Weiss Ratings raised shares of Gulfport Energy from a “hold (c)” rating to a “buy (b)” rating in a research report on Monday, March 2nd. Finally, UBS Group raised their price target on shares of Gulfport Energy from $264.00 to $267.00 and gave the stock a “buy” rating in a report on Thursday, March 5th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and seven have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $228.90.

Gulfport Energy Trading Up 1.0%

NYSE GPOR opened at $207.07 on Tuesday. The firm’s 50 day moving average price is $198.67 and its two-hundred day moving average price is $195.46. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.68 and a current ratio of 0.68. Gulfport Energy has a twelve month low of $153.27 and a twelve month high of $225.78. The stock has a market cap of $3.84 billion, a price-to-earnings ratio of 10.19 and a beta of 0.61.

Gulfport Energy (NYSE:GPOR) last released its earnings results on Tuesday, February 24th. The company reported $5.60 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.61 by ($0.01). The business had revenue of $398.19 million during the quarter, compared to analysts’ expectations of $373.24 million. Gulfport Energy had a net margin of 30.01% and a return on equity of 21.85%.

Insider Transactions at Gulfport Energy

In other Gulfport Energy news, COO Matthew Rucker sold 10,732 shares of the company’s stock in a transaction dated Tuesday, January 6th. The stock was sold at an average price of $186.61, for a total value of $2,002,698.52. Following the transaction, the chief operating officer directly owned 12,893 shares of the company’s stock, valued at $2,405,962.73. This represents a 45.43% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Michael Sluiter sold 9,933 shares of Gulfport Energy stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $210.00, for a total value of $2,085,930.00. Following the sale, the senior vice president owned 11,980 shares of the company’s stock, valued at approximately $2,515,800. This represents a 45.33% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 893,835 shares of company stock valued at $182,476,994. Corporate insiders own 0.33% of the company’s stock.

Hedge Funds Weigh In On Gulfport Energy

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Millennium Management LLC lifted its stake in Gulfport Energy by 1,281.6% in the third quarter. Millennium Management LLC now owns 426,034 shares of the company’s stock valued at $77,104,000 after acquiring an additional 395,197 shares during the last quarter. Goldentree Asset Management LP acquired a new position in shares of Gulfport Energy during the 3rd quarter worth $44,665,000. Ninepoint Partners LP bought a new position in shares of Gulfport Energy during the 4th quarter valued at $41,598,000. Victory Capital Management Inc. raised its holdings in shares of Gulfport Energy by 50.3% during the 4th quarter. Victory Capital Management Inc. now owns 527,393 shares of the company’s stock valued at $109,692,000 after purchasing an additional 176,386 shares in the last quarter. Finally, Whitebox Advisors LLC lifted its stake in shares of Gulfport Energy by 148.6% in the 3rd quarter. Whitebox Advisors LLC now owns 274,627 shares of the company’s stock valued at $49,702,000 after purchasing an additional 164,178 shares during the last quarter.

About Gulfport Energy

Gulfport Energy Corporation is an independent oil and gas exploration and production company based in Oklahoma City, Oklahoma. The company focuses on the development of onshore natural gas, natural gas liquids (NGLs) and crude oil properties in the United States. Gulfport utilizes horizontal drilling and multi-stage hydraulic fracturing techniques to maximize production and enhance recovery from its resource plays.

The company’s primary operations are concentrated in two major U.S. resource basins.