Gulfport Energy (NASDAQ:GPOR) released its quarterly earnings data on Wednesday. The oil and gas producer reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.38 by $0.07, Bloomberg Earnings reports. The firm had revenue of $397.85 million during the quarter, compared to analyst estimates of $337.95 million. Gulfport Energy had a return on equity of 7.99% and a net margin of 3.88%. During the same period in the prior year, the company posted $0.34 earnings per share.
Shares of Gulfport Energy (NASDAQ:GPOR) traded down $0.32 during trading on Thursday, hitting $8.41. The stock had a trading volume of 3,724,400 shares, compared to its average volume of 4,759,381. The stock has a market capitalization of $1,598.30, a P/E ratio of -31.15, a PEG ratio of 0.22 and a beta of 0.41. Gulfport Energy has a 12-month low of $8.11 and a 12-month high of $19.06. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 0.67.
A number of equities research analysts recently issued reports on the company. KeyCorp dropped their target price on Gulfport Energy from $18.00 to $15.00 and set a “buy” rating on the stock in a research report on Tuesday, January 30th. Mizuho set a $18.00 target price on Gulfport Energy and gave the company a “buy” rating in a research report on Tuesday, January 16th. 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. Williams Capital set a $17.00 target price on Gulfport Energy and gave the company a “buy” rating in a research report on Tuesday, January 30th. Finally, Zacks Investment Research lowered Gulfport Energy from a “hold” rating to a “sell” rating in a research report on Friday, January 26th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and fifteen have given a buy rating to the company. Gulfport Energy presently has an average rating of “Buy” and an average target price of $19.10.
Gulfport Energy announced that its Board of Directors has approved a stock repurchase 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 purchase shares of its stock through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.
In related news, Director Paul D. Westerman acquired 10,000 shares of the stock in a transaction dated Thursday, November 30th. The stock was purchased at an average cost of $12.75 per share, with a total value of $127,500.00. Following the completion of the purchase, the director now directly owns 15,488 shares in the company, valued at approximately $197,472. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Steve Baldwin sold 4,000 shares of the stock in a transaction that occurred on Friday, December 15th. The stock was 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 of the company’s stock, valued at $397,155.78. The disclosure for this sale can be found here. Over the last three months, insiders sold 151,253 shares of company stock valued at $1,839,219. Company insiders own 0.31% 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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