BidaskClub Downgrades Gulfport Energy (GPOR) to Sell

BidaskClub cut shares of Gulfport Energy (NASDAQ:GPOR) from a hold rating to a sell rating in a research note issued to investors on Friday.

A number of other analysts have also recently weighed in on GPOR. ValuEngine cut Gulfport Energy from a buy rating to a hold rating in a research report on Friday. Zacks Investment Research cut Gulfport Energy from a hold rating to a sell rating in a research report on Thursday, February 1st. Wells Fargo & Co dropped their price target on Gulfport Energy from $20.00 to $18.00 and set an outperform rating on the stock in a research report on Wednesday, January 31st. KeyCorp set a $15.00 price target on Gulfport Energy and gave the stock a buy rating in a research report on Tuesday, January 30th. Finally, Williams Capital set a $17.00 price target on Gulfport Energy and gave the stock a buy rating in a research report on Tuesday, January 30th. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and sixteen have given a buy rating to the company. The stock has an average rating of Buy and a consensus price target of $20.09.

Shares of Gulfport Energy (NASDAQ:GPOR) opened at $9.17 on Friday. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 0.67. The firm has a market capitalization of $1,680.00, a P/E ratio of -33.96, a PEG ratio of 0.23 and a beta of 0.41. Gulfport Energy has a 1 year low of $9.09 and a 1 year high of $21.50.

Gulfport Energy announced that its board has approved a stock repurchase plan on Monday, January 29th that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the oil and gas producer to repurchase shares of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.

In other news, CEO Michael G. Moore sold 118,494 shares of Gulfport Energy stock in a transaction on Friday, December 15th. The stock was sold at an average price of $12.16, for a total transaction of $1,440,887.04. Following the transaction, the chief executive officer now directly owns 295,449 shares in the company, valued at approximately $3,592,659.84. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Robert Alan Jones sold 5,700 shares of Gulfport Energy stock in a transaction on Friday, December 15th. The shares were sold at an average price of $12.15, for a total value of $69,255.00. Following the transaction, the senior vice president now owns 44,827 shares in the company, valued at $544,648.05. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 151,253 shares of company stock worth $1,839,219. 0.21% of the stock is owned by insiders.

Several hedge funds have recently modified their holdings of GPOR. Janus Henderson Group PLC acquired a new position in shares of Gulfport Energy during the 2nd quarter valued at $77,784,000. Victory Capital Management Inc. increased its position in shares of Gulfport Energy by 246.5% during the 3rd quarter. Victory Capital Management Inc. now owns 3,015,217 shares of the oil and gas producer’s stock valued at $43,239,000 after purchasing an additional 2,145,082 shares during the period. Dimensional Fund Advisors LP increased its position in shares of Gulfport Energy by 57.7% during the 3rd quarter. Dimensional Fund Advisors LP now owns 5,141,604 shares of the oil and gas producer’s stock valued at $73,731,000 after purchasing an additional 1,881,196 shares during the period. Kingdon Capital Management L.L.C. acquired a new position in shares of Gulfport Energy during the 2nd quarter valued at $15,934,000. Finally, State Street Corp increased its position in shares of Gulfport Energy by 15.1% during the 2nd quarter. State Street Corp now owns 7,443,039 shares of the oil and gas producer’s stock valued at $109,780,000 after purchasing an additional 979,127 shares during the period. Institutional investors own 85.18% of the company’s stock.

TRADEMARK VIOLATION WARNING: This story was originally posted by Stock Observer and is the sole property of of Stock Observer. If you are accessing this story on another website, it was illegally copied and reposted in violation of U.S. & international copyright & trademark legislation. The correct version of this story can be viewed at https://www.thestockobserver.com/2018/02/06/bidaskclub-downgrades-gulfport-energy-gpor-to-sell.html.

About Gulfport Energy

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.

Analyst Recommendations for Gulfport Energy (NASDAQ:GPOR)

Receive News & Ratings for Gulfport Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Gulfport Energy and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply