Piper Jaffray Companies Analysts Lift Earnings Estimates for Gulfport Energy Co. (GPOR)
Gulfport Energy Co. (NASDAQ:GPOR) – Investment analysts at Piper Jaffray Companies raised their Q2 2019 EPS estimates for Gulfport Energy in a research note issued to investors on Monday, March 18th. Piper Jaffray Companies analyst K. Harrison now forecasts that the oil and gas producer will earn $0.29 per share for the quarter, up from their prior estimate of $0.27. Piper Jaffray Companies also issued estimates for Gulfport Energy’s Q4 2019 earnings at $0.28 EPS and Q1 2020 earnings at $0.35 EPS.
Other equities analysts have also recently issued reports about the stock. SunTrust Banks set a $15.00 target price on shares of Gulfport Energy and gave the company a “buy” rating in a research report on Tuesday, November 27th. BidaskClub upgraded shares of Gulfport Energy from a “hold” rating to a “buy” rating in a research report on Saturday, January 19th. Tudor Pickering upgraded shares of Gulfport Energy from a “hold” rating to a “buy” rating in a research report on Friday, January 18th. Williams Capital restated a “buy” rating and issued a $14.00 target price on shares of Gulfport Energy in a research report on Friday, January 18th. Finally, TheStreet cut shares of Gulfport Energy from a “c” rating to a “d+” rating in a research report on Wednesday, February 27th. Four analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $11.91.
Gulfport Energy (NASDAQ:GPOR) last issued its earnings results on Wednesday, February 27th. The oil and gas producer reported $0.46 EPS for the quarter, missing the consensus estimate of $0.50 by ($0.04). The firm had revenue of $415.95 million during the quarter, compared to analyst estimates of $376.23 million. Gulfport Energy had a net margin of 31.77% and a return on equity of 9.97%. The business’s revenue was up 4.5% on a year-over-year basis.
In related news, CEO David M. Wood acquired 10,000 shares of the stock in a transaction that occurred on Tuesday, March 5th. The stock was acquired at an average cost of $8.06 per share, for a total transaction of $80,600.00. Following the transaction, the chief executive officer now directly owns 360,610 shares in the company, valued at $2,906,516.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.32% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in GPOR. BlackRock Inc. increased its position in Gulfport Energy by 28.8% in the 4th quarter. BlackRock Inc. now owns 24,561,132 shares of the oil and gas producer’s stock valued at $160,873,000 after acquiring an additional 5,492,062 shares during the period. Norges Bank acquired a new position in Gulfport Energy in the 4th quarter valued at approximately $17,417,000. Oslo Asset Management AS increased its position in Gulfport Energy by 73.1% in the 4th quarter. Oslo Asset Management AS now owns 5,234,914 shares of the oil and gas producer’s stock valued at $34,289,000 after acquiring an additional 2,210,800 shares during the period. JPMorgan Chase & Co. increased its position in Gulfport Energy by 76.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,414,119 shares of the oil and gas producer’s stock valued at $45,952,000 after acquiring an additional 1,916,848 shares during the period. Finally, Walthausen & Co. LLC acquired a new position in Gulfport Energy in the 3rd quarter valued at approximately $10,652,000. Hedge funds and other institutional investors own 95.40% of the company’s stock.
About Gulfport Energy
Gulfport Energy Corporation engages in the acquisition, exploration, exploitation, and production of natural gas, crude oil, and natural gas liquids (NGLs) in the United States. Its principal properties are located in the Utica Shale primarily in Eastern Ohio; and the SCOOP Woodford and SCOOP Springer plays in Oklahoma.
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