Canoe Financial LP Invests $13.26 Million 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 second quarter, according to its most recent filing with the Securities and 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 reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Strs Ohio acquired a new position in shares of Gulfport Energy during the 1st quarter worth $239,000. Pallas Capital Advisors LLC acquired a new position in shares of Gulfport Energy during the 2nd quarter worth $263,000. Wealth Enhancement Advisory Services LLC bought a new stake in shares of Gulfport Energy during the 2nd quarter worth $557,000. Rhumbline Advisers boosted its holdings in shares of Gulfport Energy by 1.2% during the 1st 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 period. Finally, Livforsakringsbolaget Skandia Omsesidigt boosted its holdings in shares of Gulfport Energy by 337.6% during the 2nd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 61,700 shares of the company's stock worth $12,412,000 after buying an additional 47,600 shares during the period.

Gulfport Energy Price Performance

GPOR traded up $3.59 on Tuesday, hitting $172.51. 48,113 shares of the stock were exchanged, compared to its average volume of 256,951. Gulfport Energy Corporation has a 12 month low of $136.45 and a 12 month high of $210.32. The company has a 50-day moving average of $171.98. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 0.42. The firm has a market capitalization of $3.03 billion, a price-to-earnings ratio of -24.03 and a beta of 0.62.

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

Insider Activity

In other news, Director Jason Joseph Martinez sold 600 shares of the company's stock in a transaction that occurred 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 transaction, the director owned 4,288 shares of the company's stock, valued at $735,692.16. This represents a 12.27% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 0.33% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on GPOR shares. Zacks Research cut shares of Gulfport Energy from a "hold" rating to a "strong sell" rating in a research report on Tuesday, September 9th. TD Cowen upgraded shares of Gulfport Energy to a "strong-buy" rating in a research report on Monday, July 7th. UBS Group lowered their price objective 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. William Blair began coverage on shares of Gulfport Energy in a research report on Monday, August 25th. They issued an "outperform" rating for the company. Finally, JPMorgan Chase & Co. raised their price objective on shares of Gulfport Energy from $208.00 to $236.00 and gave the company 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 assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, Gulfport Energy currently has a consensus rating of "Moderate Buy" and an average price target of $217.00.

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.