Stifel Nicolaus began coverage on shares of Gulfport Energy (NASDAQ:GPOR) in a report released on Wednesday. The firm issued a buy rating and a $13.40 target price on the oil and gas producer’s stock.
A number of other research firms have also recently commented on GPOR. Williams Capital set a $14.00 price objective on Gulfport Energy and gave the company a buy rating in a report on Wednesday, May 9th. KeyCorp decreased their price objective on Gulfport Energy from $18.00 to $15.00 and set a buy rating on the stock in a report on Tuesday, January 30th. BidaskClub upgraded Gulfport Energy from a sell rating to a hold rating in a report on Monday, March 5th. Zacks Investment Research upgraded Gulfport Energy from a sell rating to a hold rating in a research note on Tuesday, February 27th. Finally, Jefferies Group set a $17.00 price target on Gulfport Energy and gave the stock a buy rating in a research note on Friday, February 23rd. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and seventeen have issued a buy rating to the stock. Gulfport Energy currently has a consensus rating of Buy and an average price target of $17.20.
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Gulfport Energy opened at $10.59 on Wednesday, according to MarketBeat.com. Gulfport Energy has a one year low of $8.11 and a one year high of $16.06. The company has a market capitalization of $1.85 billion, a P/E ratio of 7.51, a price-to-earnings-growth ratio of 0.38 and a beta of 0.30. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.61 and a current ratio of 0.61.
Gulfport Energy (NASDAQ:GPOR) last released its quarterly earnings data on Tuesday, May 8th. The oil and gas producer reported $0.56 EPS for the quarter, beating analysts’ consensus estimates of $0.42 by $0.14. Gulfport Energy had a return on equity of 10.03% and a net margin of 28.25%. The firm had revenue of $325.40 million for the quarter, compared to analysts’ expectations of $354.46 million. During the same period in the prior year, the firm posted $0.32 earnings per share. The firm’s quarterly revenue was down 2.3% on a year-over-year basis. analysts anticipate that Gulfport Energy will post 1.4 EPS for the current year.
Gulfport Energy announced that its Board of Directors has initiated a stock repurchase plan on Monday, January 29th that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the oil and gas producer to repurchase shares of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s management believes its shares are undervalued.
In related news, Director Paul D. Westerman acquired 10,000 shares of Gulfport Energy stock in a transaction dated Tuesday, February 27th. The shares were acquired at an average cost of $10.14 per share, for a total transaction of $101,400.00. Following the completion of the purchase, the director now owns 25,488 shares in the company, valued at $258,448.32. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.31% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Brinker Capital Inc. raised its stake in shares of Gulfport Energy by 16.2% in the first quarter. Brinker Capital Inc. now owns 40,380 shares of the oil and gas producer’s stock valued at $390,000 after acquiring an additional 5,636 shares in the last quarter. Icon Advisers Inc. Co. raised its stake in shares of Gulfport Energy by 0.7% in the fourth quarter. Icon Advisers Inc. Co. now owns 984,474 shares of the oil and gas producer’s stock valued at $12,562,000 after acquiring an additional 6,400 shares in the last quarter. Van ECK Associates Corp raised its stake in shares of Gulfport Energy by 21.3% in the first quarter. Van ECK Associates Corp now owns 38,845 shares of the oil and gas producer’s stock valued at $375,000 after acquiring an additional 6,816 shares in the last quarter. UBS Asset Management Americas Inc. raised its stake in shares of Gulfport Energy by 4.9% in the fourth quarter. UBS Asset Management Americas Inc. now owns 149,397 shares of the oil and gas producer’s stock valued at $1,906,000 after acquiring an additional 6,989 shares in the last quarter. Finally, Alps Advisors Inc. raised its stake in shares of Gulfport Energy by 23.9% in the first quarter. Alps Advisors Inc. now owns 44,557 shares of the oil and gas producer’s stock valued at $430,000 after acquiring an additional 8,587 shares in the last quarter. Institutional investors and hedge funds own 92.27% 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.