First Trust Advisors LP Buys 33,618 Shares of Gulfport Energy Corporation $GPOR

Key Points

• First Trust Advisors LP increased its Gulfport Energy stake by 74.2% in the first quarter, purchasing 33,618 additional shares and bringing its holdings to 78,951 shares worth approximately $16.7 million.
• Several institutional investors also expanded their positions, including Jennison Associates and the State of Alaska Department of Revenue, while Gulfport shares recently traded at $156.62, up 2.1%.
• Analyst sentiment remains positive but mixed: Gulfport has a “Moderate Buy” consensus rating and a $227 average price target, despite recent downgrades from some firms and a wide range of targets.

First Trust Advisors LP grew its position in Gulfport Energy Corporation (NYSE:GPOR - Free Report) by 74.2% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 78,951 shares of the company's stock after purchasing an additional 33,618 shares during the period. First Trust Advisors LP owned about 0.44% of Gulfport Energy worth $16,704,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Allspring Global Investments Holdings LLC bought a new position in Gulfport Energy during the 4th quarter valued at about $2,478,000. SG Americas Securities LLC boosted its position in Gulfport Energy by 93.0% in the fourth quarter. SG Americas Securities LLC now owns 11,822 shares of the company's stock valued at $2,459,000 after buying an additional 5,698 shares in the last quarter. BOKF NA grew its stake in Gulfport Energy by 66.7% during the fourth quarter. BOKF NA now owns 25,000 shares of the company's stock worth $5,200,000 after buying an additional 10,000 shares during the last quarter. Jennison Associates LLC grew its stake in Gulfport Energy by 14.2% during the fourth quarter. Jennison Associates LLC now owns 671,483 shares of the company's stock worth $139,662,000 after buying an additional 83,613 shares during the last quarter. Finally, State of Alaska Department of Revenue increased its holdings in shares of Gulfport Energy by 449.7% during the fourth quarter. State of Alaska Department of Revenue now owns 3,914 shares of the company's stock worth $813,000 after buying an additional 3,202 shares in the last quarter.

Gulfport Energy Trading Up 2.1%

GPOR opened at $156.62 on Thursday. Gulfport Energy Corporation has a 1-year low of $149.18 and a 1-year high of $225.78. The stock has a market capitalization of $2.81 billion, a PE ratio of 5.35 and a beta of 0.41. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 0.46. The firm has a 50-day moving average price of $163.31 and a two-hundred day moving average price of $184.79.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on GPOR shares. Truist Financial cut their target price on shares of Gulfport Energy from $219.00 to $190.00 and set a "hold" rating for the company in a research note on Friday, July 10th. UBS Group decreased their price target on Gulfport Energy from $260.00 to $245.00 and set a "buy" rating on the stock in a research report on Thursday, April 16th. Weiss Ratings cut Gulfport Energy from a "buy (b-)" rating to a "hold (c+)" rating in a report on Thursday, July 16th. Mizuho upgraded Gulfport Energy from a "neutral" rating to an "outperform" rating and lifted their price objective for the company from $251.00 to $252.00 in a research report on Wednesday, May 27th. Finally, Zacks Research lowered Gulfport Energy from a "hold" rating to a "strong sell" rating in a research note on Monday, July 13th. One 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 assigned a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $227.00.

About Gulfport Energy

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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