Zacks Investment Research upgraded shares of Gulfport Energy Corporation (NASDAQ:GPOR) from a hold rating to a buy rating in a report released on Wednesday morning. They currently have $16.00 price objective on the oil and gas producer’s stock.

According to Zacks, “Gulfport Energy owns and operates mature oil and gas properties in the Louisiana Gulf Coast area. The company seeks to achieve reserve growth and increased cash flow from operations through low risk development activities on its existing properties and acquiring additional Louisiana Gulf Coast properties with exploitation and exploration potential. “

A number of other brokerages have also weighed in on GPOR. Mizuho reaffirmed a buy rating and issued a $23.00 price objective on shares of Gulfport Energy Corporation in a report on Wednesday. KeyCorp reaffirmed a buy rating and issued a $18.00 price objective on shares of Gulfport Energy Corporation in a report on Tuesday, September 19th. Imperial Capital began coverage on Gulfport Energy Corporation in a report on Tuesday, September 19th. They issued an outperform rating and a $19.00 price objective on the stock. Piper Jaffray Companies lowered their price objective on Gulfport Energy Corporation from $21.00 to $18.00 and set an overweight rating on the stock in a report on Monday, September 18th. Finally, Jefferies Group LLC set a $20.00 price objective on Gulfport Energy Corporation and gave the company a buy rating in a report on Tuesday, August 29th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-two have issued a buy rating to the company’s stock. The company currently has a consensus rating of Buy and a consensus price target of $24.09.

Shares of Gulfport Energy Corporation (NASDAQ GPOR) traded up 2.05% during trading on Wednesday, hitting $14.91. The stock had a trading volume of 1,626,398 shares. Gulfport Energy Corporation has a 12-month low of $10.90 and a 12-month high of $30.47. The stock’s market cap is $2.73 billion. The stock’s 50-day moving average is $13.10 and its 200-day moving average is $14.33.

Gulfport Energy Corporation (NASDAQ:GPOR) last released its quarterly earnings results on Tuesday, August 8th. The oil and gas producer reported $0.33 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.25 by $0.08. Gulfport Energy Corporation had a positive return on equity of 7.42% and a negative net margin of 15.02%. The firm had revenue of $323.90 million for the quarter, compared to analyst estimates of $279.59 million. During the same quarter last year, the company posted $0.24 earnings per share. The business’s revenue was up 1052.7% on a year-over-year basis. On average, equities research analysts expect that Gulfport Energy Corporation will post $1.39 EPS for the current year.

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Institutional investors have recently modified their holdings of the stock. TIAA CREF Investment Management LLC raised its position in shares of Gulfport Energy Corporation by 7.6% during the 1st quarter. TIAA CREF Investment Management LLC now owns 436,077 shares of the oil and gas producer’s stock worth $7,496,000 after purchasing an additional 30,726 shares during the last quarter. Arizona State Retirement System raised its position in shares of Gulfport Energy Corporation by 1.5% during the 2nd quarter. Arizona State Retirement System now owns 67,100 shares of the oil and gas producer’s stock worth $990,000 after purchasing an additional 1,000 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Gulfport Energy Corporation by 18.8% during the 1st quarter. Geode Capital Management LLC now owns 1,340,493 shares of the oil and gas producer’s stock worth $23,043,000 after purchasing an additional 211,708 shares during the last quarter. Tocqueville Asset Management L.P. raised its position in shares of Gulfport Energy Corporation by 65.6% during the 2nd quarter. Tocqueville Asset Management L.P. now owns 25,750 shares of the oil and gas producer’s stock worth $380,000 after purchasing an additional 10,200 shares during the last quarter. Finally, Virginia Retirement Systems ET AL raised its position in shares of Gulfport Energy Corporation by 65.1% during the 1st quarter. Virginia Retirement Systems ET AL now owns 28,564 shares of the oil and gas producer’s stock worth $491,000 after purchasing an additional 11,264 shares during the last quarter. Hedge funds and other institutional investors own 86.65% of the company’s stock.

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.

Analyst Recommendations for Gulfport Energy Corporation (NASDAQ:GPOR)

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