Gulfport Energy Corporation (GPOR) Stock Rating Lowered by Zacks Investment Research
Gulfport Energy Corporation (NASDAQ:GPOR) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Monday.
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. “
A number of other equities analysts also recently weighed in on GPOR. Jefferies Group LLC set a $20.00 price target on Gulfport Energy Corporation and gave the stock a “buy” rating in a research report on Tuesday, August 29th. J P Morgan Chase & Co downgraded Gulfport Energy Corporation from an “overweight” rating to a “neutral” rating and reduced their price target for the stock from $22.00 to $17.00 in a research report on Thursday, July 20th. Scotiabank reaffirmed a “buy” rating and set a $23.00 price target on shares of Gulfport Energy Corporation in a research report on Friday, June 30th. BidaskClub downgraded Gulfport Energy Corporation from a “hold” rating to a “sell” rating in a research report on Wednesday, July 19th. Finally, Piper Jaffray Companies reduced their price target on Gulfport Energy Corporation from $21.00 to $18.00 and set an “overweight” rating for the company in a research report on Monday, September 18th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and twenty have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $23.13.
Gulfport Energy Corporation (GPOR) traded down 1.09% during mid-day trading on Monday, hitting $13.57. 2,184,998 shares of the company traded hands. The company’s market capitalization is $2.48 billion. Gulfport Energy Corporation has a one year low of $10.90 and a one year high of $29.92. The company’s 50-day moving average price is $13.90 and its 200 day moving average price is $14.07.
Gulfport Energy Corporation (NASDAQ:GPOR) last posted its earnings results on Tuesday, August 8th. The oil and gas producer reported $0.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.25 by $0.08. Gulfport Energy Corporation had a positive return on equity of 7.42% and a negative net margin of 15.02%. The business had revenue of $323.90 million during the quarter, compared to analysts’ expectations of $279.59 million. During the same period in the prior year, the business earned $0.24 EPS. Gulfport Energy Corporation’s revenue for the quarter was up 1052.7% compared to the same quarter last year. On average, analysts anticipate that Gulfport Energy Corporation will post $1.39 earnings per share for the current fiscal year.
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Several hedge funds and other institutional investors have recently added to or reduced their stakes in GPOR. BlackRock Inc. boosted its holdings in shares of Gulfport Energy Corporation by 13,258.8% in the 1st quarter. BlackRock Inc. now owns 22,591,500 shares of the oil and gas producer’s stock valued at $388,348,000 after buying an additional 22,422,387 shares during the last quarter. Janus Henderson Group PLC acquired a new stake in shares of Gulfport Energy Corporation in the 2nd quarter valued at approximately $77,784,000. Dimensional Fund Advisors LP boosted its holdings in shares of Gulfport Energy Corporation by 122.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,260,408 shares of the oil and gas producer’s stock valued at $48,092,000 after buying an additional 1,794,132 shares during the last quarter. State Street Corp boosted its holdings in shares of Gulfport Energy Corporation by 27.4% in the 1st quarter. State Street Corp now owns 6,463,912 shares of the oil and gas producer’s stock valued at $111,114,000 after buying an additional 1,389,369 shares during the last quarter. Finally, Kingdon Capital Management L.L.C. acquired a new stake in shares of Gulfport Energy Corporation in the 2nd quarter valued at approximately $15,934,000. 86.65% of the stock is owned by institutional investors.
About Gulfport Energy Corporation
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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