Gulfport Energy Corp. (GPOR) Upgraded by Zacks Investment Research to Buy
Gulfport Energy Corp. (NASDAQ:GPOR) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Tuesday. The brokerage currently has a $33.00 price objective on the stock. Zacks Investment Research’s price objective indicates a potential upside of 10.66% from the stock’s previous close.
According to Zacks, “Gulfport Energy owns and operates mature oil and gas properties in the Louisiana Gulf Coast area. The company seeks to achieve reserve growth and increased cash flow from operations through low risk development activities on its existing properties and acquiring additional Louisiana Gulf Coast properties with exploitation and exploration potential. “
Other equities research analysts have also issued reports about the stock. Williams Capital started coverage on shares of Gulfport Energy Corp. in a report on Monday, August 29th. They set a “buy” rating and a $36.00 target price on the stock. Piper Jaffray Cos. started coverage on shares of Gulfport Energy Corp. in a report on Friday, July 8th. They set an “overweight” rating and a $40.00 target price on the stock. Jefferies Group upgraded shares of Gulfport Energy Corp. from an “underperform” rating to a “hold” rating in a report on Friday, August 19th. Deutsche Bank AG lowered shares of Gulfport Energy Corp. from a “buy” rating to a “hold” rating and reduced their target price for the stock from $37.00 to $33.00 in a report on Monday, June 13th. Finally, Mizuho started coverage on shares of Gulfport Energy Corp. in a report on Wednesday, October 5th. They set a “buy” rating and a $35.00 target price on the stock. Nine research analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $34.81.
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Gulfport Energy Corp. (NASDAQ:GPOR) traded down 1.19% during mid-day trading on Tuesday, hitting $29.82. 2,430,475 shares of the stock traded hands. Gulfport Energy Corp. has a 12 month low of $20.21 and a 12 month high of $36.12. The stock has a 50-day moving average price of $28.35 and a 200-day moving average price of $29.34. The stock’s market cap is $3.74 billion.
Gulfport Energy Corp. (NASDAQ:GPOR) last issued its quarterly earnings data on Wednesday, August 3rd. The company reported $0.24 EPS for the quarter, topping the consensus estimate of $0.13 by $0.11. Gulfport Energy Corp. had a negative net margin of 216.29% and a positive return on equity of 1.61%. On average, equities analysts forecast that Gulfport Energy Corp. will post $0.65 earnings per share for the current year.
Institutional investors have recently made changes to their positions in the company. Oregon Public Employees Retirement Fund boosted its position in shares of Gulfport Energy Corp. by 3.6% in the third quarter. Oregon Public Employees Retirement Fund now owns 43,192 shares of the company’s stock worth $1,220,000 after buying an additional 1,516 shares during the last quarter. First Mercantile Trust Co. acquired a new position in shares of Gulfport Energy Corp. during the third quarter worth about $329,000. Northwestern Mutual Investment Management Company LLC boosted its position in shares of Gulfport Energy Corp. by 2.0% in the second quarter. Northwestern Mutual Investment Management Company LLC now owns 21,639 shares of the company’s stock worth $676,000 after buying an additional 414 shares during the last quarter. Mason Street Advisors LLC acquired a new position in shares of Gulfport Energy Corp. during the second quarter worth about $1,787,000. Finally, Royal Bank of Canada boosted its position in shares of Gulfport Energy Corp. by 23.4% in the second quarter. Royal Bank of Canada now owns 1,212,301 shares of the company’s stock worth $37,897,000 after buying an additional 230,215 shares during the last quarter.
Gulfport Energy Corp. Company Profile
Gulfport Energy Corporation (Gulfport) is an independent oil and natural gas exploration and production company focused on the exploration, exploitation, acquisition and production of natural gas, natural gas liquids and crude oil in the United States. The Company has an oil and natural gas portfolio of proved reserves, as well as development and exploratory drilling opportunities on conventional and unconventional oil and natural gas prospects.
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