Gulfport Energy (GPOR) Rating Lowered to Strong Sell at BidaskClub

Gulfport Energy (NASDAQ:GPOR) was downgraded by BidaskClub from a “sell” rating to a “strong sell” rating in a research note issued to investors on Thursday.

Other research analysts have also recently issued research reports about the company. Williams Capital set a $18.00 price objective on Gulfport Energy and gave the stock a “buy” rating in a research report on Monday, October 23rd. Credit Suisse Group began coverage on Gulfport Energy in a research report on Monday, December 11th. They set a “neutral” rating and a $15.00 price objective on the stock. KeyCorp set a $18.00 price objective on Gulfport Energy and gave the stock a “buy” rating in a research report on Thursday, October 19th. Mizuho set a $18.00 price objective on Gulfport Energy and gave the stock a “buy” rating in a research report on Tuesday, January 16th. Finally, Morgan Stanley lowered their price objective on Gulfport Energy from $11.00 to $10.00 and set an “underweight” rating on the stock in a research report on Wednesday, January 24th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and fifteen have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $19.10.

Gulfport Energy (GPOR) opened at $8.75 on Thursday. 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 firm has a market capitalization of $1,590.00, a price-to-earnings ratio of -32.41, a price-to-earnings-growth ratio of 0.21 and a beta of 0.41. Gulfport Energy has a 12-month low of $8.11 and a 12-month high of $20.48.

Gulfport Energy declared that its Board of Directors has approved a share buyback program 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 buy shares of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its shares are undervalued.

In related news, CEO Michael G. Moore sold 118,494 shares of the firm’s stock in a transaction on Friday, December 15th. The stock was sold at an average price of $12.16, for a total value of $1,440,887.04. Following the transaction, the chief executive officer now owns 295,449 shares in the company, valued at $3,592,659.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Paul D. Westerman bought 10,000 shares of the firm’s stock in a transaction on Thursday, November 30th. The stock was acquired at an average price of $12.75 per share, for a total transaction of $127,500.00. Following the transaction, the director now owns 15,488 shares of the company’s stock, valued at $197,472. The disclosure for this purchase can be found here. Insiders sold 151,253 shares of company stock worth $1,839,219 in the last 90 days. 0.31% of the stock is owned by company insiders.

A number of institutional investors have recently added to or reduced their stakes in the business. MetLife Investment Advisors LLC bought a new position in Gulfport Energy in the fourth quarter valued at about $1,330,000. Verition Fund Management LLC grew its position in Gulfport Energy by 71.5% in the fourth quarter. Verition Fund Management LLC now owns 54,315 shares of the oil and gas producer’s stock valued at $693,000 after acquiring an additional 22,638 shares during the last quarter. Meadow Creek Investment Management LLC grew its position in Gulfport Energy by 1,102.2% in the fourth quarter. Meadow Creek Investment Management LLC now owns 216,440 shares of the oil and gas producer’s stock valued at $2,762,000 after acquiring an additional 198,436 shares during the last quarter. Tyers Asset Management LLC grew its position in Gulfport Energy by 1,102.2% in the fourth quarter. Tyers Asset Management LLC now owns 123,680 shares of the oil and gas producer’s stock valued at $1,578,000 after acquiring an additional 113,392 shares during the last quarter. Finally, HBK Investments L P grew its position in Gulfport Energy by 199.6% in the fourth quarter. HBK Investments L P now owns 488,500 shares of the oil and gas producer’s stock valued at $6,233,000 after acquiring an additional 325,442 shares during the last quarter. 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.

Analyst Recommendations for Gulfport Energy (NASDAQ:GPOR)

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