Assenagon Asset Management S.A. Lowers Stock Position in Gulfport Energy Corporation $GPOR

Key Points

• Assenagon Asset Management cut its Gulfport Energy stake by 63.2% in the second quarter, selling 295,404 shares and retaining 172,015 shares valued at approximately $29.2 million.
• Analyst sentiment remains broadly positive, with Gulfport holding a MarketBeat consensus rating of “Moderate Buy” and an average price target of $223.11, despite several recent downgrades and target-price reductions.
• GPOR opened at $162.39, near its 50-day average of $161.20 and well below its 52-week high of $225.78. The company has a $2.87 billion market capitalization and a P/E ratio of 6.50.

Assenagon Asset Management S.A. lowered its holdings in Gulfport Energy Corporation (NYSE:GPOR - Free Report) by 63.2% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 172,015 shares of the company's stock after selling 295,404 shares during the quarter. Assenagon Asset Management S.A. owned 0.96% of Gulfport Energy worth $29,191,000 as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in the stock. Keybank National Association OH boosted its stake in shares of Gulfport Energy by 1.2% during the 1st quarter. Keybank National Association OH now owns 5,881 shares of the company's stock worth $1,244,000 after acquiring an additional 67 shares in the last quarter. Central Pacific Bank Trust Division raised its position in shares of Gulfport Energy by 9.3% in the second quarter. Central Pacific Bank Trust Division now owns 940 shares of the company's stock valued at $160,000 after buying an additional 80 shares during the last quarter. Polymer Capital Management US LLC boosted its position in Gulfport Energy by 3.8% during the third quarter. Polymer Capital Management US LLC now owns 2,193 shares of the company's stock worth $397,000 after acquiring an additional 81 shares during the last quarter. Allworth Financial LP grew its stake in Gulfport Energy by 113.3% in the 4th quarter. Allworth Financial LP now owns 160 shares of the company's stock worth $33,000 after acquiring an additional 85 shares during the period. Finally, Sequoia Financial Advisors LLC raised its holdings in Gulfport Energy by 3.3% in the 4th quarter. Sequoia Financial Advisors LLC now owns 2,959 shares of the company's stock valued at $615,000 after acquiring an additional 94 shares during the last quarter.

Analysts Set New Price Targets

A number of brokerages have weighed in on GPOR. Mizuho raised Gulfport Energy from a "neutral" rating to an "outperform" rating and increased their price target for the stock from $251.00 to $252.00 in a research note on Wednesday, May 27th. Truist Financial decreased their target price on shares of Gulfport Energy from $190.00 to $186.00 and set a "hold" rating on the stock in a research report on Wednesday. Zacks Research downgraded shares of Gulfport Energy from a "hold" rating to a "strong sell" rating in a report on Monday, July 13th. Weiss Ratings lowered shares of Gulfport Energy from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Thursday, July 16th. Finally, UBS Group cut their price target on shares of Gulfport Energy from $223.00 to $214.00 and set a "buy" rating on the stock in a research note on Wednesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $223.11.

Gulfport Energy Trading Down 0.2%

GPOR opened at $162.39 on Monday. The firm has a market capitalization of $2.87 billion, a P/E ratio of 6.50 and a beta of 0.41. The firm's 50 day moving average is $161.20 and its 200-day moving average is $183.89. Gulfport Energy Corporation has a 52-week low of $149.18 and a 52-week 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 Profile

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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