Gulfport Energy Corp. Stock Rating Lowered by RBC Capital (GPOR)
Gulfport Energy Corp. (NASDAQ:GPOR) was downgraded by equities research analysts at RBC Capital from an “outperform” rating to a “sector perform” rating in a research note issued to investors on Tuesday, TheFlyOnTheWall.com reports. They currently have a $61.00 target price on the stock, down from their previous target price of $64.00. RBC Capital’s price target indicates a potential upside of 10.19% from the stock’s previous close.
The analysts wrote, “GPOR indicated that 4Q13 production was 1.5 million Boe (~16,300 Boepd), around 18% below GPOR’s guidance and 13% below our expectations,” the report said. “This reduces our 4Q13 CFPS by 11% to $0.72. GPOR announced that its YE13 exit rate was 27,780 Boepd, towards the low end of guidance of 27,000-32,000 Boepd. We would note that guidance was previously revised down from 38,000-42,000 Boepd in October 2013.”
Shares of Gulfport Energy Corp. (NASDAQ:GPOR) traded down 6.50% on Tuesday, hitting $55.36. 5,675,837 shares of the company’s stock traded hands. Gulfport Energy Corp. has a 1-year low of $35.24 and a 1-year high of $69.81. The stock’s 50-day moving average is $58.29 and its 200-day moving average is $57.83. The company has a market cap of $4.295 billion and a P/E ratio of 29.23.
Gulfport Energy Corp. (NASDAQ:GPOR) last released its earnings data on Tuesday, November 5th. The company reported $0.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.13 by $0.01. The company had revenue of $69.25 million for the quarter, compared to the consensus estimate of $81.27 million. During the same quarter in the previous year, the company posted $0.28 earnings per share. The company’s revenue for the quarter was up 14.4% on a year-over-year basis. Analysts expect that Gulfport Energy Corp. will post $0.61 EPS for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at KeyCorp initiated coverage on shares of Gulfport Energy Corp. in a research note to investors on Tuesday, November 26th. They set a “buy” rating and a $70.00 price target on the stock. Separately, analysts at MLV Capital initiated coverage on shares of Gulfport Energy Corp. in a research note to investors on Friday, November 22nd. They set a “hold” rating on the stock. Finally, analysts at Northland Capital Partners raised their price target on shares of Gulfport Energy Corp. from $74.00 to $80.00 in a research note to investors on Tuesday, November 12th. They now have an “outperform” rating on the stock. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company’s stock. Gulfport Energy Corp. presently has an average rating of “Buy” and an average target price of $72.79.
Gulfport Energy Corporation (NASDAQ:GPOR) is an independent oil and natural gas exploration and production company with its principal producing properties located along the Louisiana Gulf Coast in the West Cote Blanche Bay, or WCBB, and Hackberry fields, and in West Texas in the Permian Basin.
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