Gulfport Energy (GPOR) Receives “Buy” Rating from Piper Jaffray Companies
Gulfport Energy (NASDAQ:GPOR)‘s stock had its “buy” rating restated by equities research analysts at Piper Jaffray Companies in a note issued to investors on Tuesday. They presently have a $20.00 price objective on the oil and gas producer’s stock. Piper Jaffray Companies’ price target would indicate a potential upside of 53.61% from the company’s previous close.
A number of other brokerages also recently issued reports on GPOR. Zacks Investment Research upgraded shares of Gulfport Energy from a “hold” rating to a “buy” rating and set a $16.00 price objective on the stock in a research note on Wednesday, October 11th. Jefferies Group reiterated a “buy” rating and set a $18.00 price objective on shares of Gulfport Energy in a research note on Thursday, October 12th. Mizuho reiterated a “buy” rating and set a $23.00 price objective on shares of Gulfport Energy in a research note on Wednesday, October 4th. Scotiabank reiterated a “buy” rating and set a $23.00 price objective on shares of Gulfport Energy in a research note on Monday, October 9th. Finally, Morgan Stanley increased their price objective on shares of Gulfport Energy from $12.00 to $13.00 and gave the stock an “underweight” rating in a research note on Wednesday, October 18th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and seventeen have assigned a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $20.86.
Shares of Gulfport Energy (GPOR) traded up $0.31 during trading on Tuesday, reaching $13.02. 3,550,000 shares of the company’s stock were exchanged, compared to its average volume of 3,300,000. The firm has a market capitalization of $2,380.00, a P/E ratio of -48.22, a price-to-earnings-growth ratio of 0.27 and a beta of 0.69. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.57 and a quick ratio of 0.57. Gulfport Energy has a 12-month low of $10.90 and a 12-month high of $22.35.
Gulfport Energy (NASDAQ:GPOR) last announced its quarterly earnings data on Wednesday, November 1st. The oil and gas producer reported $0.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.03). The firm had revenue of $265.50 million for the quarter, compared to analyst estimates of $302.33 million. Gulfport Energy had a return on equity of 7.99% and a net margin of 3.88%. The company’s quarterly revenue was up 37.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.16 earnings per share. research analysts forecast that Gulfport Energy will post 1.36 earnings per share for the current year.
In other news, CEO Michael G. Moore sold 118,494 shares of the firm’s stock in a transaction that occurred on Friday, December 15th. The shares were sold at an average price of $12.16, for a total value of $1,440,887.04. Following the sale, the chief executive officer now directly owns 295,449 shares in the company, valued at approximately $3,592,659.84. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Steve Baldwin sold 4,000 shares of the firm’s stock in a transaction that occurred on Friday, December 15th. The shares were sold at an average price of $12.17, for a total transaction of $48,680.00. Following the completion of the sale, the vice president now owns 32,634 shares in the company, valued at $397,155.78. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 151,253 shares of company stock worth $1,839,219. 0.21% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of GPOR. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Gulfport Energy by 11.8% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,756 shares of the oil and gas producer’s stock valued at $100,000 after buying an additional 712 shares during the last quarter. Riverhead Capital Management LLC raised its holdings in Gulfport Energy by 76.9% in the 2nd quarter. Riverhead Capital Management LLC now owns 9,553 shares of the oil and gas producer’s stock valued at $141,000 after buying an additional 4,153 shares during the last quarter. BKS Advisors LLC bought a new position in Gulfport Energy in the 3rd quarter valued at approximately $161,000. Crossmark Global Holdings Inc. bought a new position in Gulfport Energy in the 3rd quarter valued at approximately $211,000. Finally, Cubist Systematic Strategies LLC raised its holdings in Gulfport Energy by 28,700.0% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 14,400 shares of the oil and gas producer’s stock valued at $212,000 after buying an additional 14,350 shares during the last quarter. Institutional investors and hedge funds own 86.71% of the company’s stock.
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Gulfport Energy 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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