Gulfport Energy Co. (NASDAQ:GPOR) – Research analysts at Jefferies Group cut their FY2019 earnings per share estimates for shares of Gulfport Energy in a research note issued on Monday. Jefferies Group analyst Z. Parham now expects that the oil and gas producer will post earnings per share of $1.19 for the year, down from their prior estimate of $1.61. Jefferies Group currently has a “Buy” rating and a $15.00 price target on the stock.
Gulfport Energy (NASDAQ:GPOR) last issued its quarterly earnings data on Wednesday, February 21st. The oil and gas producer reported $0.45 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.39 by $0.06. Gulfport Energy had a return on equity of 8.64% and a net margin of 32.96%. The business had revenue of $397.85 million for the quarter, compared to the consensus estimate of $337.95 million. During the same period last year, the business earned $0.34 EPS.
A number of other brokerages also recently weighed in on GPOR. Credit Suisse Group began coverage on Gulfport Energy in a research note on Monday, December 11th. They issued a “neutral” rating and a $15.00 price objective on the stock. Morgan Stanley cut their price objective on Gulfport Energy from $11.00 to $10.00 and set an “underweight” rating on the stock in a research note on Wednesday, January 24th. Mizuho set a $18.00 price objective on Gulfport Energy and gave the company a “buy” rating in a research note on Tuesday, January 16th. Piper Jaffray Companies reissued a “buy” rating and issued a $20.00 price objective on shares of Gulfport Energy in a research note on Tuesday, January 9th. Finally, ValuEngine downgraded Gulfport Energy from a “buy” rating to a “hold” rating in a research report on Sunday, December 31st. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and fifteen have assigned a buy rating to the stock. Gulfport Energy has a consensus rating of “Buy” and a consensus price target of $18.41.
Shares of GPOR stock traded down $0.04 during mid-day trading on Wednesday, hitting $9.58. The company had a trading volume of 1,592,868 shares, compared to its average volume of 4,760,441. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.62 and a quick ratio of 0.62. Gulfport Energy has a 1-year low of $8.11 and a 1-year high of $17.82. The company has a market cap of $1,798.10, a P/E ratio of 3.95, a price-to-earnings-growth ratio of 0.38 and a beta of 0.42.
Gulfport Energy announced that its board has initiated a share repurchase plan on Monday, January 29th that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the oil and gas producer to purchase shares of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s management believes its stock is undervalued.
In other Gulfport Energy news, Director Paul D. Westerman purchased 10,000 shares of the company’s stock in a transaction on Tuesday, February 27th. The shares were bought at an average cost of $10.14 per share, with a total value of $101,400.00. Following the transaction, the director now directly owns 25,488 shares in the company, valued at approximately $258,448.32. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.31% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. State of Alaska Department of Revenue bought a new stake in shares of Gulfport Energy during the fourth quarter valued at approximately $137,000. BKS Advisors LLC bought a new stake in shares of Gulfport Energy during the third quarter valued at approximately $161,000. Oakbrook Investments LLC bought a new stake in shares of Gulfport Energy during the fourth quarter valued at approximately $180,000. Delpha Capital Management LLC bought a new stake in shares of Gulfport Energy during the fourth quarter valued at approximately $187,000. Finally, Crossmark Global Holdings Inc. bought a new stake in shares of Gulfport Energy during the third quarter valued at approximately $211,000. 88.69% of the stock is currently owned by institutional investors.
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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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