Assenagon Asset Management S.A. Purchases 30,317 Shares of Gulfport Energy Corporation $GPOR

Key Points

• Assenagon Asset Management S.A. increased its stake in Gulfport Energy Corporation by 243.6%, acquiring 30,317 shares to hold a total of 42,763 shares, valued at approximately $8.6 million.
• Gulfport Energy Corporation recently received increased ratings from several analysts, including a "strong-buy" rating from TD Cowen and an upgraded rating from William Blair.
• The company's latest quarterly earnings showed a loss with $4.06 earnings per share, missing analysts' expectations, despite revenue of $447.62 million exceeding estimates.

Assenagon Asset Management S.A. lifted its holdings in shares of Gulfport Energy Corporation (NYSE:GPOR - Free Report) by 243.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 42,763 shares of the company's stock after purchasing an additional 30,317 shares during the period. Assenagon Asset Management S.A. owned about 0.24% of Gulfport Energy worth $8,603,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Rhumbline Advisers raised its holdings in Gulfport Energy by 1.2% during the 1st quarter. Rhumbline Advisers now owns 20,623 shares of the company's stock valued at $3,798,000 after buying an additional 248 shares during the last quarter. Strs Ohio bought a new stake in shares of Gulfport Energy during the first quarter valued at approximately $239,000. Pallas Capital Advisors LLC bought a new position in Gulfport Energy during the 2nd quarter valued at about $263,000. Wealth Enhancement Advisory Services LLC purchased a new position in shares of Gulfport Energy in the 2nd quarter worth $557,000. Finally, Livforsakringsbolaget Skandia Omsesidigt increased its holdings in Gulfport Energy by 21.3% during the second quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 17,100 shares of the company's stock valued at $3,437,000 after buying an additional 3,000 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. William Blair began coverage on shares of Gulfport Energy in a report on Monday, August 25th. They set an "outperform" rating for the company. TD Cowen raised shares of Gulfport Energy to a "strong-buy" rating in a research report on Monday, July 7th. UBS Group decreased their price target on Gulfport Energy from $240.00 to $227.00 and set a "buy" rating for the company in a research note on Wednesday, August 20th. Wall Street Zen raised Gulfport Energy from a "hold" rating to a "buy" rating in a report on Saturday, August 9th. Finally, JPMorgan Chase & Co. upped their price objective on Gulfport Energy from $208.00 to $236.00 and gave the stock an "overweight" rating in a research report on Friday, July 11th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $217.00.

Insider Buying and Selling

In other news, Director Jason Joseph Martinez sold 600 shares of the stock in a transaction on Tuesday, September 9th. The stock was sold at an average price of $171.57, for a total value of $102,942.00. Following the completion of the sale, the director owned 4,288 shares in the company, valued at $735,692.16. This represents a 12.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.33% of the company's stock.

Gulfport Energy Stock Up 1.3%

NYSE:GPOR opened at $171.12 on Wednesday. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 0.42. Gulfport Energy Corporation has a 52 week low of $136.45 and a 52 week high of $210.32. The business's 50 day moving average price is $171.61. The company has a market cap of $3.01 billion, a P/E ratio of -23.83 and a beta of 0.62.

Gulfport Energy (NYSE:GPOR - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The company reported $4.06 earnings per share for the quarter, missing analysts' consensus estimates of $4.91 by ($0.85). Gulfport Energy had a negative net margin of 9.14% and a positive return on equity of 18.89%. The business had revenue of $447.62 million for the quarter, compared to the consensus estimate of $334.57 million.

Gulfport Energy Profile

Gulfport Energy Corporation engages in the exploration, development, acquisition, production of natural gas, crude oil, and natural gas liquids (NGL) in the United States. Its principal properties include Utica Shale covering an area approximately 187,000 net reservoir acres primarily located in Eastern Ohio; and SCOOP covering an area approximately 74,000 net reservoir acres primarily located in Garvin, Grady, and Stephens.

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