Bank of America Corp DE Increases Position in Gulfport Energy Corporation $GPOR

Key Points

• Bank of America increased its Gulfport Energy stake by 50.3% in the first quarter, acquiring 50,968 additional shares and bringing its holdings to 152,201 shares worth approximately $32.2 million.
• Analyst sentiment remains broadly positive, with Gulfport carrying a “Moderate Buy” consensus rating and an average price target of $223.11, despite some downgrades and lowered price objectives.
• Gulfport shares opened at $170.69, compared with a 12-month range of $149.18 to $225.78. CEO Domenic J. Dell’Osso Jr. also purchased 1,600 shares, increasing his position by 7.03%.

Bank of America Corp DE raised its position in shares of Gulfport Energy Corporation (NYSE:GPOR - Free Report) by 50.3% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 152,201 shares of the company's stock after purchasing an additional 50,968 shares during the period. Bank of America Corp DE owned approximately 0.85% of Gulfport Energy worth $32,201,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in GPOR. Advisory Services Network LLC bought a new stake in Gulfport Energy in the 3rd quarter worth approximately $28,000. Allworth Financial LP raised its stake in shares of Gulfport Energy by 113.3% during the fourth quarter. Allworth Financial LP now owns 160 shares of the company's stock worth $33,000 after acquiring an additional 85 shares in the last quarter. EverSource Wealth Advisors LLC lifted its holdings in shares of Gulfport Energy by 364.8% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 251 shares of the company's stock worth $50,000 after acquiring an additional 197 shares during the last quarter. Kestra Advisory Services LLC bought a new stake in shares of Gulfport Energy in the 4th quarter worth approximately $54,000. Finally, Caitong International Asset Management Co. Ltd boosted its stake in shares of Gulfport Energy by 866.7% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 406 shares of the company's stock valued at $84,000 after purchasing an additional 364 shares in the last quarter.

Analyst Upgrades and Downgrades

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

Gulfport Energy Price Performance

Shares of Gulfport Energy stock opened at $170.69 on Friday. The firm has a market cap of $3.02 billion, a PE ratio of 6.83 and a beta of 0.41. Gulfport Energy Corporation 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. The company's fifty day simple moving average is $161.28 and its two-hundred day simple moving average is $183.14.

Insider Activity at Gulfport Energy

In other news, CEO Domenic J. Dell'osso, Jr. bought 1,600 shares of the company's stock in a transaction dated Friday, August 7th. The stock was bought at an average cost of $160.61 per share, for a total transaction of $256,976.00. Following the completion of the acquisition, the chief executive officer owned 24,349 shares in the company, valued at approximately $3,910,692.89. This trade represents a 7.03% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 0.70% of the company's stock.

Gulfport Energy Company 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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