Gulfport Energy (GPOR) Trading Down 1.8% Following Analyst Downgrade

Gulfport Energy Corporation (NASDAQ:GPOR)’s share price traded down 1.8% during trading on Thursday after Wells Fargo & Co lowered their price target on the stock from $20.00 to $18.00. Wells Fargo & Co currently has an outperform rating on the stock. Gulfport Energy traded as low as $10.09 and last traded at $9.99. 5,498,847 shares were traded during mid-day trading, an increase of 31% from the average session volume of 4,190,916 shares. The stock had previously closed at $10.17.

A number of other research firms also recently issued reports on GPOR. Zacks Investment Research upgraded shares of Gulfport Energy from a “hold” rating to a “buy” rating and set a $16.00 price objective on the stock in a research note on Wednesday, October 11th. Jefferies Group reiterated a “buy” rating and set a $18.00 price objective on shares of Gulfport Energy in a research note on Thursday, October 12th. Mizuho reiterated a “buy” rating and set a $23.00 price objective on shares of Gulfport Energy in a research note on Wednesday, October 4th. Scotiabank reiterated a “buy” rating and set a $23.00 price objective on shares of Gulfport Energy in a research note on Monday, October 9th. Finally, Morgan Stanley increased their price objective on shares of Gulfport Energy from $12.00 to $13.00 and gave the company an “underweight” rating in a research note on Wednesday, October 18th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and sixteen have issued a buy rating to the company’s stock. Gulfport Energy has a consensus rating of “Buy” and a consensus target price of $20.09.

In other news, Director Paul D. Westerman bought 10,000 shares of the firm’s stock in a transaction that occurred 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 completion of 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 document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Michael G. Moore sold 118,494 shares of the stock in a transaction that occurred on Friday, December 15th. The shares were sold at an average price of $12.16, for a total transaction of $1,440,887.04. Following the sale, the chief executive officer now directly owns 295,449 shares of the company’s stock, valued at approximately $3,592,659.84. 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 three months. 0.31% of the stock is currently owned by corporate insiders.

A number of large investors have recently bought and sold shares of the stock. Wedge Capital Management L L P NC lifted its position in Gulfport Energy by 5.1% during the fourth quarter. Wedge Capital Management L L P NC now owns 740,419 shares of the oil and gas producer’s stock valued at $9,448,000 after acquiring an additional 36,164 shares during the last quarter. SG Americas Securities LLC purchased a new position in shares of Gulfport Energy in the fourth quarter worth $576,000. State of Alaska Department of Revenue purchased a new position in shares of Gulfport Energy in the fourth quarter worth $137,000. Oakbrook Investments LLC purchased a new position in shares of Gulfport Energy in the fourth quarter worth $180,000. Finally, Schwab Charles Investment Management Inc. raised its holdings in shares of Gulfport Energy by 5.3% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 567,997 shares of the oil and gas producer’s stock worth $7,248,000 after buying an additional 28,735 shares during the last quarter. 86.67% of the stock is owned by institutional investors.

The stock has a market capitalization of $1,810.00, a price-to-earnings ratio of -36.93, a PEG ratio of 0.24 and a beta of 0.69. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.57 and a quick ratio of 0.57.

Gulfport Energy (NASDAQ:GPOR) last posted its quarterly earnings results on Wednesday, November 1st. The oil and gas producer reported $0.32 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.35 by ($0.03). The company had revenue of $265.50 million during the quarter, compared to analysts’ expectations of $302.33 million. Gulfport Energy had a return on equity of 7.99% and a net margin of 3.88%. The company’s quarterly revenue was up 37.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.16 EPS. research analysts anticipate that Gulfport Energy Corporation will post 1.35 EPS for the current year.

Gulfport Energy declared that its board has initiated a share buyback program on Monday, January 29th that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the oil and gas producer to buy shares of its stock through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

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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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