Gulfport Energy's (GPOR) "Underweight" Rating Reaffirmed at JPMorgan Chase & Co.

Key Points

• JPMorgan reaffirmed its “underweight” rating on Gulfport Energy and cut its price target from $240 to $194, implying 8.43% upside from the current price.
• Analyst sentiment remains mixed, with a consensus rating of “Hold” and an average price target of $219.22; targets from other firms range from $186 to $252.
• Gulfport reported quarterly EPS of $4.85, beating estimates of $3.82, on revenue of $323.23 million. The CEO also purchased 1,600 shares, while the stock recently opened at $178.92.

Gulfport Energy (NYSE:GPOR - Get Free Report)'s stock had its "underweight" rating reissued by investment analysts at JPMorgan Chase & Co. in a note issued to investors on Tuesday, Benzinga reports. They presently have a $194.00 price objective on the stock, down from their previous price objective of $240.00. JPMorgan Chase & Co.'s price target would indicate a potential upside of 8.43% from the stock's current price.

A number of other analysts have also recently issued reports on the company. UBS Group reduced their price objective on Gulfport Energy from $223.00 to $214.00 and set a "buy" rating for the company in a research report on Wednesday, August 5th. Zacks Research downgraded Gulfport Energy from a "hold" rating to a "strong sell" rating in a research note on Monday, July 13th. Truist Financial dropped their price objective on Gulfport Energy from $190.00 to $186.00 and set a "hold" rating on the stock in a report on Wednesday, August 5th. Mizuho raised shares of Gulfport Energy from a "neutral" rating to an "outperform" rating and lifted their price objective for the company from $251.00 to $252.00 in a research note on Wednesday, May 27th. Finally, Weiss Ratings downgraded shares of Gulfport Energy from a "hold (c+)" rating to a "hold (c)" rating in a research report on Friday, August 21st. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, six have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, Gulfport Energy has a consensus rating of "Hold" and an average target price of $219.22.

Gulfport Energy Stock Down 0.3%

GPOR stock opened at $178.92 on Tuesday. The company has a 50 day moving average of $165.38 and a two-hundred day moving average of $180.16. The company has a market cap of $3.16 billion, a price-to-earnings ratio of 7.16 and a beta of 0.43. Gulfport Energy has a 12-month low of $149.18 and a 12-month high of $225.78. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 0.51.

Gulfport Energy (NYSE:GPOR - Get Free Report) last posted its quarterly earnings results on Monday, August 3rd. The company reported $4.85 EPS for the quarter, beating the consensus estimate of $3.82 by $1.03. Gulfport Energy had a net margin of 32.28% and a return on equity of 21.87%. The business had revenue of $323.23 million for the quarter. On average, equities analysts anticipate that Gulfport Energy will post 22.25 earnings per share for the current fiscal year.

Insider Buying and Selling at Gulfport Energy

In other news, CEO Domenic Dell'osso, Jr. bought 1,600 shares of the business's stock in a transaction on Friday, August 7th. The stock was purchased at an average price of $160.61 per share, with a total value of $256,976.00. Following the transaction, the chief executive officer directly owned 24,349 shares in the company, valued at approximately $3,910,692.89. The trade was a 7.03% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Matthew Willrath sold 325 shares of the company's stock in a transaction dated Wednesday, September 2nd. The shares were sold at an average price of $182.69, for a total transaction of $59,374.25. Following the sale, the chief accounting officer owned 2,130 shares of the company's stock, valued at $389,129.70. This trade represents a 13.24% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 0.70% of the company's stock.

Institutional Trading of Gulfport Energy

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GPOR. Bank of America Corp DE grew its stake in shares of Gulfport Energy by 50.3% in the first quarter. Bank of America Corp DE now owns 152,201 shares of the company's stock worth $32,201,000 after acquiring an additional 50,968 shares during the last quarter. Janus Henderson Group PLC raised its stake in Gulfport Energy by 4.2% during the 1st quarter. Janus Henderson Group PLC now owns 223,669 shares of the company's stock valued at $47,323,000 after purchasing an additional 9,095 shares during the last quarter. Hsbc Holdings PLC bought a new stake in Gulfport Energy in the 1st quarter valued at $1,844,000. Quantinno Capital Management LP boosted its holdings in Gulfport Energy by 698.0% in the 1st quarter. Quantinno Capital Management LP now owns 16,312 shares of the company's stock valued at $3,451,000 after purchasing an additional 14,268 shares during the period. Finally, Global Alpha Capital Management Ltd. grew its position in Gulfport Energy by 18.3% in the 4th quarter. Global Alpha Capital Management Ltd. now owns 191,991 shares of the company's stock worth $39,932,000 after purchasing an additional 29,631 shares during the last quarter.

About Gulfport Energy

Gulfport Energy Corporation is an independent oil and gas exploration and production company based in Oklahoma City, Oklahoma. The company focuses on the development of onshore natural gas, natural gas liquids (NGLs) and crude oil properties in the United States. Gulfport utilizes horizontal drilling and multi-stage hydraulic fracturing techniques to maximize production and enhance recovery from its resource plays.

The company's primary operations are concentrated in two major U.S. resource basins.

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