Gulfport Energy (GPOR) Stock Rating Upgraded by Zacks Investment Research
Zacks Investment Research upgraded shares of Gulfport Energy (NASDAQ:GPOR) from a sell rating to a hold rating in a report issued on Tuesday.
According to Zacks, “Gulfport Energy Corporation is an independent natural gas and oil company focused on the exploration and development of natural gas and oil properties in North America and is one of the largest producers of natural gas in the contiguous United States. Headquartered in Oklahoma City, Gulfport holds significant acreage positions in the Utica Shale of Eastern Ohio and the SCOOP Woodford and SCOOP Springer plays in Oklahoma. In addition, Gulfport holds an acreage position along the Louisiana Gulf Coast, a position in the Alberta Oil Sands in Canada. “
GPOR has been the subject of several other research reports. Barclays lowered Gulfport Energy from an overweight rating to an equal weight rating and set a $16.00 price target for the company. in a research report on Monday, November 20th. Piper Jaffray Companies reiterated a buy rating and issued a $20.00 price target on shares of Gulfport Energy in a research report on Tuesday, January 9th. Credit Suisse Group began coverage on Gulfport Energy in a research report on Monday, December 11th. They issued a neutral rating and a $15.00 price target for the company. Williams Capital set a $18.00 price target on Gulfport Energy and gave the stock a buy rating in a research report on Monday, November 27th. Finally, Morgan Stanley dropped their price target on Gulfport Energy from $11.00 to $10.00 and set an underweight rating for the company in a research report on Wednesday, January 31st. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and fifteen have given a buy rating to the company. The company currently has a consensus rating of Buy and an average target price of $19.06.
Gulfport Energy (NASDAQ:GPOR) last released its quarterly earnings results on Wednesday, February 21st. The oil and gas producer reported $0.45 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.39 by $0.06. The company had revenue of $397.85 million during the quarter, compared to analyst estimates of $337.95 million. Gulfport Energy had a return on equity of 8.64% and a net margin of 32.96%. During the same quarter last year, the business posted $0.34 earnings per share. analysts expect that Gulfport Energy will post 1.31 EPS for the current year.
Gulfport Energy announced that its board has authorized a stock buyback plan on Monday, January 29th that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the oil and gas producer to buy shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.
In other news, SVP Robert Alan Jones sold 5,700 shares of Gulfport Energy stock in a transaction that occurred on Friday, December 15th. The shares were sold at an average price of $12.15, for a total transaction of $69,255.00. Following the completion of the sale, the senior vice president now owns 44,827 shares of the company’s stock, valued at $544,648.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Steve Baldwin sold 4,000 shares of Gulfport Energy 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 sale, the vice president now directly owns 32,634 shares of the company’s stock, valued at approximately $397,155.78. The disclosure for this sale can be found here. Insiders have sold 151,253 shares of company stock valued at $1,839,219 in the last ninety days. Insiders own 0.31% of the company’s stock.
Institutional investors have recently bought and sold shares of the company. State of Alaska Department of Revenue bought a new stake in shares of Gulfport Energy during the fourth quarter valued at approximately $137,000. BKS Advisors LLC bought a new stake in shares of Gulfport Energy during the third quarter valued at approximately $161,000. Oakbrook Investments LLC bought a new stake in shares of Gulfport Energy during the fourth quarter valued at approximately $180,000. Delpha Capital Management LLC bought a new stake in shares of Gulfport Energy during the fourth quarter valued at approximately $187,000. Finally, Crossmark Global Holdings Inc. bought a new stake in shares of Gulfport Energy during the third quarter valued at approximately $211,000. 88.95% of the stock is owned by hedge funds and other institutional investors.
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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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