An issue of Gulfport Energy Corporation (NASDAQ:GPOR) debt fell 1% as a percentage of its face value during trading on Wednesday after Wells Fargo & Co lowered their price target on the stock from $20.00 to $18.00. The debt issue has a 6.375% coupon and is set to mature on May 15, 2025. The debt is now trading at $101.25 and was trading at $102.75 one week ago. Price moves in a company’s debt in credit markets often anticipate parallel moves in its share price.
GPOR has been the subject of a number of other research reports. 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 report on Wednesday, October 18th. Zacks Investment Research cut shares of Gulfport Energy from a “hold” rating to a “sell” rating in a research report on Friday, January 26th. ValuEngine cut shares of Gulfport Energy from a “buy” rating to a “hold” rating in a research report on Sunday, December 31st. Piper Jaffray Companies reaffirmed a “buy” rating and set a $20.00 price objective on shares of Gulfport Energy in a research report on Tuesday, January 9th. Finally, Mizuho reaffirmed a “buy” rating and set a $23.00 price objective on shares of Gulfport Energy in a research report on Wednesday, October 4th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and sixteen have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $20.09.
In other Gulfport Energy news, Director Paul D. Westerman purchased 10,000 shares of the firm’s stock in a transaction on Thursday, November 30th. The stock was bought at an average price of $12.75 per share, with a total value of $127,500.00. Following the transaction, the director now directly owns 15,488 shares of the company’s stock, valued at approximately $197,472. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Robert Alan Jones sold 5,700 shares of the firm’s stock in a transaction that occurred on Friday, December 15th. The shares were sold at an average price of $12.15, for a total transaction of $69,255.00. Following the completion of the transaction, the senior vice president now directly owns 44,827 shares of the company’s stock, valued at approximately $544,648.05. The disclosure for this sale can be found here. Insiders sold a total of 151,253 shares of company stock valued at $1,839,219 in the last three months. 0.21% of the stock is currently owned by corporate insiders.
Several institutional investors and hedge funds have recently made changes to their positions in the company. PNC Financial Services Group Inc. raised its holdings in shares of Gulfport Energy by 3.7% in the 2nd quarter. PNC Financial Services Group Inc. now owns 21,982 shares of the oil and gas producer’s stock valued at $323,000 after purchasing an additional 786 shares in the last quarter. Energy Opportunities Capital Management LLC raised its holdings in shares of Gulfport Energy by 0.9% in the 2nd quarter. Energy Opportunities Capital Management LLC now owns 251,230 shares of the oil and gas producer’s stock valued at $3,706,000 after purchasing an additional 2,250 shares in the last quarter. Thrivent Financial For Lutherans raised its holdings in shares of Gulfport Energy by 7.7% in the 2nd quarter. Thrivent Financial For Lutherans now owns 32,140 shares of the oil and gas producer’s stock valued at $474,000 after purchasing an additional 2,300 shares in the last quarter. Advisor Group Inc. raised its holdings in shares of Gulfport Energy by 11.9% in the 2nd quarter. Advisor Group Inc. now owns 24,016 shares of the oil and gas producer’s stock valued at $354,000 after purchasing an additional 2,551 shares in the last quarter. Finally, HAP Trading LLC raised its holdings in shares of Gulfport Energy by 23.2% in the 3rd quarter. HAP Trading LLC now owns 20,486 shares of the oil and gas producer’s stock valued at $294,000 after purchasing an additional 3,860 shares in the last quarter. Institutional investors and hedge funds own 86.67% of the company’s stock.
The firm has a market capitalization of $1,860.00, a price-to-earnings ratio of -37.67, a price-to-earnings-growth ratio of 0.26 and a beta of 0.69. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.57 and a current ratio of 0.57.
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 for the quarter, missing the Zacks’ consensus estimate of $0.35 by ($0.03). Gulfport Energy had a net margin of 3.88% and a return on equity of 7.99%. The firm had revenue of $265.50 million during the quarter, compared to analyst estimates of $302.33 million. During the same quarter in the previous year, the business posted $0.16 earnings per share. Gulfport Energy’s revenue for the quarter was up 37.1% compared to the same quarter last year. equities research analysts expect that Gulfport Energy Corporation will post 1.35 earnings per share for the current fiscal year.
Gulfport Energy announced that its Board of Directors has authorized a share buyback plan on Monday, January 29th that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the oil and gas producer to repurchase shares of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its shares are undervalued.
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About Gulfport Energy
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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