Gulfport Energy (NYSE:GPOR) Trading Down 5.2% – Here’s Why

Gulfport Energy Corporation (NYSE:GPOR)’s stock price traded down 5.2% during trading on Tuesday . The company traded as low as $152.64 and last traded at $155.2730. Approximately 184,523 shares traded hands during mid-day trading, a decline of 48% from the average daily volume of 353,559 shares. The stock had previously closed at $163.84.

Wall Street Analysts Forecast Growth

GPOR has been the subject of a number of recent research reports. UBS Group decreased their target price on Gulfport Energy from $223.00 to $214.00 and set a “buy” rating for the company in a research report on Wednesday. Mizuho upgraded shares of Gulfport Energy from a “neutral” rating to an “outperform” rating and upped their price target for the company from $251.00 to $252.00 in a research note on Wednesday, May 27th. Zacks Research cut Gulfport Energy from a “hold” rating to a “strong sell” rating in a report on Monday, July 13th. Weiss Ratings lowered Gulfport Energy from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, July 16th. Finally, Truist Financial lowered their target price on shares of Gulfport Energy from $190.00 to $186.00 and set a “hold” rating on the stock in a research note on Wednesday. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $223.11.

Gulfport Energy Stock Performance

The company has a current ratio of 0.58, a quick ratio of 0.56 and a debt-to-equity ratio of 0.51. The business has a fifty day moving average of $161.60 and a 200-day moving average of $184.15. The company has a market cap of $2.83 billion, a PE ratio of 6.29 and a beta of 0.41.

Hedge Funds Weigh In On Gulfport Energy

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Advisory Services Network LLC bought a new stake in Gulfport Energy during the 3rd quarter valued at approximately $28,000. Allworth Financial LP boosted its position in shares of Gulfport Energy by 113.3% during the fourth quarter. Allworth Financial LP now owns 160 shares of the company’s stock valued at $33,000 after purchasing an additional 85 shares in the last quarter. EverSource Wealth Advisors LLC raised its holdings in Gulfport Energy by 364.8% in the second quarter. EverSource Wealth Advisors LLC now owns 251 shares of the company’s stock worth $50,000 after purchasing an additional 197 shares in the last quarter. Kestra Advisory Services LLC purchased a new position in Gulfport Energy during the fourth quarter valued at $54,000. Finally, Caitong International Asset Management Co. Ltd boosted its holdings in shares of Gulfport Energy by 866.7% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 406 shares of the company’s stock valued at $84,000 after buying an additional 364 shares in 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.