Engineers Gate Manager LP Sells 7,220 Shares of Gulfport Energy Corporation $GPOR

Key Points

• Engineers Gate Manager LP cut its Gulfport Energy stake by 49.5%, selling 7,220 shares in the second quarter and retaining 7,373 shares valued at approximately $1.25 million.
• Gulfport reported quarterly EPS of $4.85, exceeding analysts’ $3.82 estimate, on revenue of $323.23 million; analysts project $22.25 in full-year EPS.
• GPOR traded around $161.36, while analyst sentiment remained mixed, resulting in a consensus “Hold” rating and an average price target of $217.50.

Engineers Gate Manager LP lowered its holdings in Gulfport Energy Corporation (NYSE:GPOR - Free Report) by 49.5% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,373 shares of the company's stock after selling 7,220 shares during the period. Engineers Gate Manager LP's holdings in Gulfport Energy were worth $1,251,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Bank of America Corp DE lifted its holdings in shares of Gulfport Energy by 50.3% during the 1st quarter. Bank of America Corp DE now owns 152,201 shares of the company's stock worth $32,201,000 after acquiring an additional 50,968 shares during the last quarter. Hsbc Holdings PLC bought a new stake in Gulfport Energy in the 1st quarter worth approximately $1,844,000. Janus Henderson Group PLC lifted its position in Gulfport Energy by 4.2% in the 1st quarter. Janus Henderson Group PLC now owns 223,669 shares of the company's stock worth $47,323,000 after buying an additional 9,095 shares during the last quarter. Quantinno Capital Management LP boosted its stake in Gulfport Energy by 698.0% in the first quarter. Quantinno Capital Management LP now owns 16,312 shares of the company's stock worth $3,451,000 after buying an additional 14,268 shares in the last quarter. Finally, Global Alpha Capital Management Ltd. boosted its stake in Gulfport Energy by 18.3% in the fourth quarter. Global Alpha Capital Management Ltd. now owns 191,991 shares of the company's stock worth $39,932,000 after buying an additional 29,631 shares in the last quarter.

Insider Buying and Selling at Gulfport Energy

In other Gulfport Energy news, CEO Domenic J. Dell'osso, Jr. bought 1,600 shares of Gulfport Energy stock in a transaction dated Friday, August 7th. The shares were purchased at an average cost of $160.61 per share, with a total value of $256,976.00. Following the transaction, the chief executive officer directly owned 24,349 shares of the company's stock, valued at $3,910,692.89. This represents a 7.03% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Matthew Willrath sold 325 shares of the stock in a transaction dated Wednesday, September 2nd. The stock was sold at an average price of $182.69, for a total transaction of $59,374.25. Following the completion of the transaction, the chief accounting officer owned 2,130 shares of the company's stock, valued at approximately $389,129.70. The trade was a 13.24% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.70% of the stock is owned by corporate insiders.

Gulfport Energy Trading Down 0.5%

GPOR opened at $161.36 on Friday. Gulfport Energy Corporation has a one year low of $149.18 and a one year high of $225.78. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.58 and a quick ratio of 0.58. The business has a 50 day simple moving average of $166.41 and a two-hundred day simple moving average of $178.56. The firm has a market capitalization of $2.85 billion, a price-to-earnings ratio of 6.45 and a beta of 0.43.

Gulfport Energy (NYSE:GPOR - Get Free Report) last issued its quarterly earnings data on Monday, August 3rd. The company reported $4.85 earnings per share for the quarter, topping analysts' consensus estimates of $3.82 by $1.03. Gulfport Energy had a return on equity of 21.87% and a net margin of 32.28%.The firm had revenue of $323.23 million for the quarter. Analysts predict that Gulfport Energy Corporation will post 22.25 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms have commented on GPOR. JPMorgan Chase & Co. reissued an "underweight" rating and set a $194.00 price target (down from $240.00) on shares of Gulfport Energy in a research note on Tuesday, September 8th. Zacks Research upgraded shares of Gulfport Energy from a "strong sell" rating to a "hold" rating in a report on Tuesday, September 8th. Mizuho raised Gulfport Energy from a "neutral" rating to an "outperform" rating and boosted their target price for the company from $251.00 to $252.00 in a research note on Wednesday, May 27th. Stifel Nicolaus initiated coverage on Gulfport Energy in a research note on Wednesday, September 9th. They issued a "hold" rating and a $193.00 target price for the company. Finally, UBS Group reiterated a "buy" rating and issued a $223.00 price objective on shares of Gulfport Energy in a research report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $217.50.

Gulfport Energy Company Profile

Gulfport Energy Corporation is an independent exploration and production company focused primarily on natural gas and natural gas liquids. The company develops and produces hydrocarbons from unconventional shale formations, with operations concentrated in the Appalachian Basin.

Gulfport's principal assets are located in eastern Ohio, where it holds acreage in the Utica and Marcellus shale plays. Its activities include leasing and developing mineral properties, drilling and completing horizontal wells, and producing and marketing natural gas, natural gas liquids and crude oil.

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