Shares of Gulfport Energy Corporation (NASDAQ:GPOR) traded down NaN on Thursday following a dissappointing earnings announcement. The company traded as low as $12.98 and last traded at $0.00. 5,779,457 shares traded hands during mid-day trading, an increase of Infinity from the average session volume of 0 shares. The oil and gas producer reported $0.32 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.35 by ($0.03). The company had revenue of $265.50 million for the quarter, compared to analyst estimates of $302.33 million. Gulfport Energy Corporation had a return on equity of 8.22% and a net margin of 3.88%. Gulfport Energy Corporation’s revenue was up 37.1% on a year-over-year basis. During the same period in the prior year, the business earned $0.16 earnings per share.

Several research firms have recently commented on GPOR. Zacks Investment Research lowered shares of Gulfport Energy Corporation from a “buy” rating to a “hold” rating in a report on Wednesday, July 26th. BidaskClub lowered shares of Gulfport Energy Corporation from a “hold” rating to a “sell” rating in a report on Wednesday, July 19th. Piper Jaffray Companies decreased their price target on shares of Gulfport Energy Corporation from $21.00 to $18.00 and set an “overweight” rating for the company in a report on Monday, September 18th. Scotiabank reaffirmed a “buy” rating and issued a $23.00 price target on shares of Gulfport Energy Corporation in a report on Monday, October 9th. Finally, KeyCorp reaffirmed a “buy” rating and issued a $18.00 price target on shares of Gulfport Energy Corporation in a report on Tuesday, September 19th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and twenty have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $22.83.

Several institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in shares of Gulfport Energy Corporation by 6.3% in the second quarter. Vanguard Group Inc. now owns 13,274,246 shares of the oil and gas producer’s stock worth $195,796,000 after acquiring an additional 786,991 shares in the last quarter. Boston Partners increased its position in shares of Gulfport Energy Corporation by 3.8% in the second quarter. Boston Partners now owns 12,524,347 shares of the oil and gas producer’s stock worth $184,734,000 after acquiring an additional 460,406 shares in the last quarter. State Street Corp increased its position in shares of Gulfport Energy Corporation by 15.1% in the second quarter. State Street Corp now owns 7,443,039 shares of the oil and gas producer’s stock worth $109,780,000 after acquiring an additional 979,127 shares in the last quarter. Janus Henderson Group PLC purchased a new position in shares of Gulfport Energy Corporation in the second quarter worth approximately $77,784,000. Finally, UBS Oconnor LLC increased its position in shares of Gulfport Energy Corporation by 7.4% in the second quarter. UBS Oconnor LLC now owns 4,397,850 shares of the oil and gas producer’s stock worth $64,868,000 after acquiring an additional 302,171 shares in the last quarter. 86.94% of the stock is currently owned by institutional investors and hedge funds.

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Gulfport Energy Corporation Company Profile

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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