Gulfport Energy (NASDAQ:GPOR) Shares Gap Up to $2.43

Gulfport Energy Co. (NASDAQ:GPOR)’s share price gapped up before the market opened on Tuesday . The stock had previously closed at $2.42, but opened at $2.43. Gulfport Energy shares last traded at $2.51, with a volume of 1,208,948 shares changing hands.

A number of equities analysts have recently weighed in on GPOR shares. Wells Fargo & Co upped their price target on shares of Gulfport Energy from $5.00 to $6.00 and gave the stock a “market perform” rating in a research note on Friday, September 20th. SunTrust Banks cut Gulfport Energy from a “buy” rating to a “hold” rating and reduced their price objective for the company from $6.00 to $3.00 in a research report on Friday, November 15th. Imperial Capital lowered their target price on Gulfport Energy from $11.00 to $5.00 and set an “outperform” rating on the stock in a research note on Friday, October 18th. Zacks Investment Research lowered Gulfport Energy from a “hold” rating to a “sell” rating and set a $3.00 target price on the stock. in a research report on Tuesday. Finally, Williams Capital reaffirmed a “hold” rating and set a $3.00 price target on shares of Gulfport Energy in a research note on Friday, November 1st. Five equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $6.54.

The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.64 and a current ratio of 0.64. The firm’s 50 day moving average is $2.88 and its 200-day moving average is $3.69. The firm has a market cap of $396.07 million, a price-to-earnings ratio of 1.35, a price-to-earnings-growth ratio of 0.12 and a beta of 0.86.

Gulfport Energy (NASDAQ:GPOR) last posted its earnings results on Thursday, October 31st. The oil and gas producer reported $0.24 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.22 by $0.02. Gulfport Energy had a net margin of 25.83% and a return on equity of 5.88%. The firm had revenue of $285.18 million for the quarter, compared to the consensus estimate of $335.10 million. During the same period in the prior year, the business posted $0.49 earnings per share. The business’s quarterly revenue was down 21.0% on a year-over-year basis. As a group, research analysts predict that Gulfport Energy Co. will post 0.96 EPS for the current year.

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Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. State Street Corp boosted its holdings in shares of Gulfport Energy by 9.1% during the 3rd quarter. State Street Corp now owns 10,483,714 shares of the oil and gas producer’s stock worth $28,411,000 after buying an additional 871,753 shares during the period. JPMorgan Chase & Co. increased its stake in shares of Gulfport Energy by 135.3% in the second quarter. JPMorgan Chase & Co. now owns 6,365,656 shares of the oil and gas producer’s stock worth $31,000,000 after purchasing an additional 3,660,115 shares during the period. Schroder Investment Management Group lifted its position in shares of Gulfport Energy by 9.1% during the 2nd quarter. Schroder Investment Management Group now owns 4,585,770 shares of the oil and gas producer’s stock worth $22,516,000 after purchasing an additional 380,582 shares during the last quarter. Shah Capital Management lifted its position in shares of Gulfport Energy by 820.5% during the 3rd quarter. Shah Capital Management now owns 4,000,000 shares of the oil and gas producer’s stock worth $10,840,000 after purchasing an additional 3,565,467 shares during the last quarter. Finally, Nuveen Asset Management LLC boosted its stake in Gulfport Energy by 62.0% during the 2nd quarter. Nuveen Asset Management LLC now owns 2,392,239 shares of the oil and gas producer’s stock valued at $11,746,000 after purchasing an additional 915,199 shares during the period. Institutional investors own 94.66% of the company’s stock.

About Gulfport Energy (NASDAQ:GPOR)

Gulfport Energy Corporation engages in the acquisition, exploration, exploitation, and production of natural gas, crude oil, and natural gas liquids (NGLs) in North America. Its principal properties include Utica Shale covering an area of approximately 241,000 gross acres primarily in Eastern Ohio; and SCOOP that comprise leasehold interests in approximately 66,000 gross surface acres located in Oklahoma.

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