Gulfport Energy Co. (NASDAQ:GPOR) – Stock analysts at Capital One Financial cut their FY2018 EPS estimates for Gulfport Energy in a research note issued to investors on Tuesday. Capital One Financial analyst B. Velie now forecasts that the oil and gas producer will earn $1.42 per share for the year, down from their previous forecast of $1.69.
GPOR has been the topic of a number of other research reports. Barclays downgraded Gulfport Energy from an “overweight” rating to an “equal weight” rating and set a $16.00 price objective on the stock. in a report on Monday, November 20th. Piper Jaffray Companies reiterated a “buy” rating and set a $20.00 price target on shares of Gulfport Energy in a report on Tuesday, January 9th. Credit Suisse Group assumed coverage on Gulfport Energy in a report on Monday, December 11th. They set a “neutral” rating and a $15.00 price target on the stock. Zacks Investment Research downgraded Gulfport Energy from a “hold” rating to a “sell” rating in a report on Thursday, February 1st. Finally, Williams Capital set a $18.00 price target on Gulfport Energy and gave the company a “buy” rating in a report on Monday, November 27th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and sixteen have given a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $19.71.
A number of hedge funds have recently modified their holdings of the stock. State of Alaska Department of Revenue bought a new position in shares of Gulfport Energy during the fourth quarter valued at $137,000. BKS Advisors LLC bought a new position in shares of Gulfport Energy during the third quarter valued at $161,000. Oakbrook Investments LLC bought a new position in shares of Gulfport Energy during the fourth quarter valued at $180,000. Crossmark Global Holdings Inc. acquired a new stake in shares of Gulfport Energy in the third quarter valued at $211,000. Finally, Cubist Systematic Strategies LLC increased its stake in shares of Gulfport Energy by 28,700.0% in the second quarter. Cubist Systematic Strategies LLC now owns 14,400 shares of the oil and gas producer’s stock valued at $212,000 after buying an additional 14,350 shares in the last quarter. 85.18% of the stock is owned by hedge funds and other institutional investors.
In related news, SVP Robert Alan Jones sold 5,700 shares of the firm’s stock in a transaction on Friday, December 15th. The stock was sold at an average price of $12.15, for a total value of $69,255.00. Following the completion of the transaction, the senior vice president now directly owns 44,827 shares of the company’s stock, valued at $544,648.05. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Keri Crowell sold 16,000 shares of the firm’s stock in a transaction on Friday, December 15th. The stock was sold at an average price of $12.16, for a total value of $194,560.00. Following the completion of the transaction, the chief financial officer now directly owns 81,092 shares of the company’s stock, valued at $986,078.72. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 151,253 shares of company stock valued at $1,839,219. 0.31% of the stock is owned by company insiders.
Gulfport Energy announced that its Board of Directors has authorized a share buyback plan on Monday, January 29th that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the oil and gas producer to purchase shares of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board believes its stock is undervalued.
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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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