B. Riley assumed coverage on shares of Gulfport Energy (NASDAQ:GPOR) in a report released on Monday, February 5th, Marketbeat.com reports. The firm set a “neutral” rating and a $11.25 price target on the oil and gas producer’s stock. B. Riley’s price objective suggests a potential upside of 35.71% from the stock’s current price. B. Riley also issued estimates for Gulfport Energy’s Q4 2017 earnings at $0.26 EPS, FY2017 earnings at $1.23 EPS, Q1 2018 earnings at $0.28 EPS, Q2 2018 earnings at $0.24 EPS, Q3 2018 earnings at $0.23 EPS, Q4 2018 earnings at $0.22 EPS, FY2018 earnings at $0.97 EPS, Q1 2019 earnings at $0.22 EPS, Q2 2019 earnings at $0.19 EPS, Q3 2019 earnings at $0.17 EPS, Q4 2019 earnings at $0.20 EPS and FY2019 earnings at $0.77 EPS.
A number of other equities analysts have also recently issued reports on the stock. Morgan Stanley restated an “underweight” rating and set a $13.00 target price on shares of Gulfport Energy in a research report on Thursday, December 14th. JPMorgan Chase & Co. upgraded shares of Gulfport Energy from a “neutral” rating to an “overweight” rating and set a $18.00 target price for the company in a research report on Friday, December 15th. SunTrust Banks restated a “buy” rating and set a $26.00 target price on shares of Gulfport Energy in a research report on Friday, December 8th. Piper Jaffray Companies reissued a “buy” rating and issued a $20.00 price objective on shares of Gulfport Energy in a research report on Tuesday, January 9th. Finally, Credit Suisse Group assumed coverage on shares of Gulfport Energy in a research report on Monday, December 11th. They issued a “neutral” rating and a $15.00 price objective for the company. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and fifteen have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $19.10.
Gulfport Energy (NASDAQ GPOR) opened at $8.29 on Monday. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 0.67. The stock has a market cap of $1,559.86, a PE ratio of 6.50, a price-to-earnings-growth ratio of 0.21 and a beta of 0.41. Gulfport Energy has a 52-week low of $8.20 and a 52-week high of $21.36.
Gulfport Energy announced that its board has initiated a share repurchase plan 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 repurchase shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board believes its shares are undervalued.
In related news, VP Steve Baldwin sold 4,000 shares of the business’s stock in a transaction that occurred on Friday, December 15th. The shares were sold at an average price of $12.17, for a total value of $48,680.00. Following the completion of the sale, the vice president now directly owns 32,634 shares in the company, valued at $397,155.78. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Michael G. Moore sold 118,494 shares of the business’s 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 completion of the sale, the chief executive officer now owns 295,449 shares of the company’s stock, valued at $3,592,659.84. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 151,253 shares of company stock valued at $1,839,219. 0.21% of the stock is owned by insiders.
A number of institutional investors have recently added to or reduced their stakes in GPOR. JPMorgan Chase & Co. grew its holdings in Gulfport Energy by 65.7% in the second quarter. JPMorgan Chase & Co. now owns 237,044 shares of the oil and gas producer’s stock valued at $3,497,000 after purchasing an additional 94,024 shares during the period. PNC Financial Services Group Inc. grew its holdings in Gulfport Energy by 3.7% in the second 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 during the period. Thrivent Financial For Lutherans grew its stake in Gulfport Energy by 7.7% during the second quarter. Thrivent Financial For Lutherans now owns 32,140 shares of the oil and gas producer’s stock worth $474,000 after buying an additional 2,300 shares during the period. Vanguard Group Inc. grew its stake in Gulfport Energy by 6.3% during the second quarter. Vanguard Group Inc. now owns 13,274,246 shares of the oil and gas producer’s stock worth $195,796,000 after buying an additional 786,991 shares during the period. Finally, M&T Bank Corp purchased a new stake in Gulfport Energy during the second quarter worth approximately $216,000. Hedge funds and other institutional investors own 86.32% of the company’s stock.
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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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