HITE Hedge Asset Management LLC Sells 220,648 Shares of Gulfport Energy Corporation $GPOR

HITE Hedge Asset Management LLC cut its holdings in shares of Gulfport Energy Corporation (NYSE:GPOR) by 88.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 28,977 shares of the company’s stock after selling 220,648 shares during the period. HITE Hedge Asset Management LLC’s holdings in Gulfport Energy were worth $6,027,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Advisory Services Network LLC bought a new stake in Gulfport Energy during the third quarter worth $28,000. Allworth Financial LP lifted its stake in shares of Gulfport Energy by 113.3% in the 4th quarter. Allworth Financial LP now owns 160 shares of the company’s stock valued at $33,000 after acquiring an additional 85 shares during the last quarter. EverSource Wealth Advisors LLC lifted its stake in shares of Gulfport Energy by 364.8% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 251 shares of the company’s stock valued at $50,000 after acquiring an additional 197 shares during the last quarter. Aster Capital Management DIFC Ltd bought a new position in shares of Gulfport Energy in the 3rd quarter valued at $148,000. Finally, SBI Okasan Asset Management Co.Ltd. bought a new position in shares of Gulfport Energy in the 4th quarter valued at $150,000.

Analyst Upgrades and Downgrades

GPOR has been the subject of a number of research reports. JPMorgan Chase & Co. increased their price target on Gulfport Energy from $228.00 to $229.00 and gave the company an “overweight” rating in a research note on Monday, March 16th. Truist Financial dropped their price target on Gulfport Energy from $230.00 to $219.00 and set a “hold” rating for the company in a research note on Friday, May 8th. Weiss Ratings reiterated a “buy (b)” rating on shares of Gulfport Energy in a research note on Friday, May 29th. Mizuho upgraded Gulfport Energy from a “neutral” rating to an “outperform” rating and increased their price target for the company from $251.00 to $252.00 in a research note on Wednesday, May 27th. Finally, UBS Group dropped their price target on Gulfport Energy from $260.00 to $245.00 and set a “buy” rating for the company in a research note on Thursday, April 16th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, Gulfport Energy presently has a consensus rating of “Moderate Buy” and an average price target of $230.22.

Insiders Place Their Bets

In related news, Director Jason Joseph Martinez sold 400 shares of the stock in a transaction on Thursday, April 2nd. The stock was sold at an average price of $213.40, for a total value of $85,360.00. Following the completion of the sale, the director directly owned 3,888 shares in the company, valued at $829,699.20. This represents a 9.33% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.70% of the stock is owned by insiders.

Gulfport Energy Stock Up 2.5%

Shares of GPOR opened at $166.48 on Friday. Gulfport Energy Corporation has a 52 week low of $160.95 and a 52 week high of $225.78. The stock has a market capitalization of $2.99 billion, a price-to-earnings ratio of 5.69 and a beta of 0.41. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.56 and a current ratio of 0.56. The stock has a fifty day moving average of $183.89 and a 200-day moving average of $195.81.

Gulfport Energy Profile

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.