Goldentree Asset Management LP Takes $44.67 Million Position in Gulfport Energy Corporation $GPOR

Goldentree Asset Management LP bought a new position in shares of Gulfport Energy Corporation (NYSE:GPOR) in the 3rd quarter, HoldingsChannel reports. The institutional investor bought 246,796 shares of the company’s stock, valued at approximately $44,665,000. Gulfport Energy accounts for about 3.7% of Goldentree Asset Management LP’s portfolio, making the stock its 8th biggest position.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Penn Capital Management Company LLC lifted its position in Gulfport Energy by 0.4% during the third quarter. Penn Capital Management Company LLC now owns 109,998 shares of the company’s stock valued at $19,956,000 after purchasing an additional 399 shares during the period. CIBC Bancorp USA Inc. acquired a new stake in Gulfport Energy during the 3rd quarter worth about $307,000. Advisory Services Network LLC purchased a new position in shares of Gulfport Energy during the 3rd quarter valued at about $28,000. XTX Topco Ltd raised its stake in shares of Gulfport Energy by 77.0% during the 3rd quarter. XTX Topco Ltd now owns 3,778 shares of the company’s stock valued at $684,000 after buying an additional 1,643 shares during the last quarter. Finally, Alyeska Investment Group L.P. lifted its holdings in shares of Gulfport Energy by 26.1% in the 3rd quarter. Alyeska Investment Group L.P. now owns 112,236 shares of the company’s stock valued at $20,312,000 after buying an additional 23,221 shares during the period.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Wall Street Zen lowered Gulfport Energy from a “buy” rating to a “hold” rating in a report on Saturday, February 28th. TD Cowen raised Gulfport Energy to a “strong-buy” rating in a report on Monday, February 9th. Zacks Research upgraded Gulfport Energy from a “strong sell” rating to a “hold” rating in a research report on Wednesday, January 7th. Wolfe Research cut shares of Gulfport Energy from an “outperform” rating to a “peer perform” rating in a research note on Monday, January 5th. Finally, Weiss Ratings raised shares of Gulfport Energy from a “hold (c)” rating to a “buy (b)” rating in a report on Monday, March 2nd. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat, Gulfport Energy has an average rating of “Moderate Buy” and an average target price of $226.67.

Gulfport Energy Price Performance

NYSE:GPOR opened at $197.61 on Thursday. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 0.43. Gulfport Energy Corporation has a 52 week low of $153.27 and a 52 week high of $225.78. The stock’s 50-day moving average price is $196.97 and its 200-day moving average price is $194.65. The stock has a market capitalization of $3.67 billion, a PE ratio of 9.72 and a beta of 0.61.

Gulfport Energy (NYSE:GPOR) last released its quarterly earnings results on Tuesday, February 24th. The company reported $5.60 earnings per share 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 analyst estimates of $373.24 million. Gulfport Energy had a return on equity of 21.85% and a net margin of 30.01%.

Insider Buying and Selling at Gulfport Energy

In other news, Director Timothy J. Cutt sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $208.73, for a total transaction of $1,043,650.00. Following the completion of the transaction, the director directly owned 26,255 shares of the company’s stock, valued at $5,480,206.15. This represents a 16.00% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, SVP Michael Sluiter sold 9,933 shares of the stock in a transaction that occurred on 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 transaction, the senior vice president owned 11,980 shares in the company, valued at $2,515,800. This trade represents a 45.33% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 893,835 shares of company stock worth $182,476,994. 0.62% of the stock is currently owned by corporate insiders.

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.