Canoe Financial LP Makes New $13.26 Million Investment in Gulfport Energy Corporation $GPOR

Key Points

• Canoe Financial LP acquired 65,900 shares of Gulfport Energy Corporation valued at approximately $13.26 million, representing a 0.37% ownership in the company as of its latest SEC filing.
• Gulfport Energy reported a quarterly EPS of $4.06, missing estimates, despite generating revenue of $447.62 million, exceeding analyst expectations of $334.57 million.
• Wall Street analysts have mixed views on Gulfport Energy, with a consensus rating of "Moderate Buy" and a target price of $217.00, although some firms have adjusted their price objectives downwards recently.

Canoe Financial LP bought a new position in Gulfport Energy Corporation (NYSE:GPOR - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 65,900 shares of the company's stock, valued at approximately $13,257,000. Canoe Financial LP owned approximately 0.37% of Gulfport Energy at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. Strs Ohio purchased a new position in Gulfport Energy during the 1st quarter valued at approximately $239,000. Rhumbline Advisers boosted its stake in shares of Gulfport Energy by 1.2% in the first quarter. Rhumbline Advisers now owns 20,623 shares of the company's stock worth $3,798,000 after buying an additional 248 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt raised its holdings in Gulfport Energy by 337.6% in the 2nd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 61,700 shares of the company's stock worth $12,412,000 after purchasing an additional 47,600 shares during the period. Pallas Capital Advisors LLC acquired a new stake in shares of Gulfport Energy in the second quarter valued at approximately $263,000. Finally, Wealth Enhancement Advisory Services LLC purchased a new position in Gulfport Energy in the second quarter worth approximately $557,000.

Insider Transactions at Gulfport Energy

In related news, Director Jason Joseph Martinez sold 600 shares of the firm's stock in a transaction dated Tuesday, September 9th. The shares were sold at an average price of $171.57, for a total transaction of $102,942.00. Following the completion of the sale, the director owned 4,288 shares in the company, valued at approximately $735,692.16. This trade represents a 12.27% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.62% of the company's stock.

Analyst Upgrades and Downgrades

GPOR has been the topic of a number of research analyst reports. Wall Street Zen upgraded Gulfport Energy from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th. Mizuho cut their target price on shares of Gulfport Energy from $227.00 to $199.00 and set a "neutral" rating on the stock in a research note on Monday, September 15th. UBS Group decreased their target price on shares of Gulfport Energy from $240.00 to $227.00 and set a "buy" rating for the company in a research report on Wednesday, August 20th. JPMorgan Chase & Co. raised their target price on shares of Gulfport Energy from $208.00 to $236.00 and gave the stock an "overweight" rating in a report on Friday, July 11th. Finally, William Blair initiated coverage on shares of Gulfport Energy in a research report on Monday, August 25th. They issued an "outperform" rating for the company. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $217.00.

Gulfport Energy Price Performance

Shares of Gulfport Energy stock traded down $6.18 on Friday, hitting $167.10. The company had a trading volume of 1,084,428 shares, compared to its average volume of 235,045. The company has a market capitalization of $2.93 billion, a price-to-earnings ratio of -23.27 and a beta of 0.62. Gulfport Energy Corporation has a twelve month low of $136.45 and a twelve month high of $210.32. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.51 and a quick ratio of 0.51. The company has a 50-day simple moving average of $172.39.

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

About Gulfport Energy

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.