Gulfport Energy Corporation (GPOR) Issues Quarterly Earnings Results, Misses Expectations By $0.03 EPS
Gulfport Energy Corporation (NASDAQ:GPOR) announced its earnings results on Wednesday. The oil and gas producer reported $0.32 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.03), Bloomberg Earnings reports. 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 $265.50 million for the quarter, compared to analysts’ expectations of $302.33 million. During the same period in the previous year, the company earned $0.16 earnings per share. Gulfport Energy Corporation’s quarterly revenue was up 37.1% on a year-over-year basis.
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Several equities research analysts recently weighed in on GPOR shares. Zacks Investment Research raised shares of Gulfport Energy Corporation from a “hold” rating to a “buy” rating and set a $16.00 target price on the stock in a research note on Wednesday, July 12th. Jefferies Group LLC set a $20.00 target price on shares of Gulfport Energy Corporation and gave the stock a “buy” rating in a research note on Tuesday, August 29th. J P Morgan Chase & Co downgraded shares of Gulfport Energy Corporation from an “overweight” rating to a “neutral” rating and cut their target price for the stock from $22.00 to $17.00 in a research note on Thursday, July 20th. BidaskClub downgraded shares of Gulfport Energy Corporation from a “hold” rating to a “sell” rating in a research note on Wednesday, July 19th. Finally, Piper Jaffray Companies cut their target price on shares of Gulfport Energy Corporation from $21.00 to $18.00 and set an “overweight” rating on the stock in a research note on Monday, September 18th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and twenty have given a buy rating to the company. Gulfport Energy Corporation currently has a consensus rating of “Buy” and an average price target of $22.83.
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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