Gulfport Energy Corporation $GPOR Position Boosted by Congress Asset Management Co.

Key Points

• Congress Asset Management increased its Gulfport Energy stake by 21.7% in the third quarter, bringing its holdings to 52,917 shares worth approximately $7.96 million. Several other institutional investors also added or initiated positions.
• Company insiders sold shares: Director Timothy J. Cutt sold 2,500 shares for about $397,450, while Chief Accounting Officer Matthew Willrath sold 325 shares for roughly $59,374. Insiders currently own 0.70% of the stock.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and an average price target of $208.50 versus a recent price of $162.11. Gulfport reported quarterly EPS of $4.85, beating estimates of $3.82, on revenue of $323.23 million.

Congress Asset Management Co. lifted its holdings in shares of Gulfport Energy Corporation (NYSE:GPOR - Free Report) by 21.7% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 52,917 shares of the company's stock after acquiring an additional 9,429 shares during the quarter. Congress Asset Management Co. owned approximately 0.30% of Gulfport Energy worth $7,963,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in GPOR. Tidal Investments LLC raised its holdings in Gulfport Energy by 47.9% in the 2nd quarter. Tidal Investments LLC now owns 9,762 shares of the company's stock worth $1,657,000 after purchasing an additional 3,160 shares in the last quarter. Integrated Wealth Concepts LLC purchased a new stake in shares of Gulfport Energy in the 2nd quarter worth about $59,000. Allworth Financial LP increased its stake in shares of Gulfport Energy by 159.3% in the 2nd quarter. Allworth Financial LP now owns 350 shares of the company's stock worth $59,000 after acquiring an additional 215 shares in the last quarter. AlphaGrep UK Ltd bought a new position in shares of Gulfport Energy in the 2nd quarter worth about $233,000. Finally, AXQ Capital LP bought a new position in shares of Gulfport Energy during the second quarter valued at approximately $325,000.

Insider Buying and Selling

In other news, Director Timothy J. Cutt sold 2,500 shares of the company's stock in a transaction that occurred on Thursday, September 24th. The stock was sold at an average price of $158.98, for a total transaction of $397,450.00. Following the sale, the director directly owned 27,013 shares of the company's stock, valued at $4,294,526.74. This represents a 8.47% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Matthew Willrath sold 325 shares of the stock in a transaction that occurred on Wednesday, September 2nd. The shares were sold at an average price of $182.69, for a total value of $59,374.25. Following the transaction, the chief accounting officer owned 2,130 shares of the company's stock, valued at $389,129.70. This represents 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 currently owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts have commented on GPOR shares. Truist Financial dropped their target price on Gulfport Energy from $190.00 to $186.00 and set a "hold" rating on the stock in a report on Wednesday, August 5th. Pickering Energy Partners started coverage on Gulfport Energy in a report on Tuesday, September 22nd. They set an "outperform" rating for the company. Mizuho set a $237.00 price target on Gulfport Energy in a research report on Wednesday. Zacks Research raised shares of Gulfport Energy from a "strong sell" rating to a "hold" rating in a research report on Tuesday, September 8th. Finally, JPMorgan Chase & Co. reiterated an "underweight" rating and set a $194.00 target price (down from $240.00) on shares of Gulfport Energy in a research note on Tuesday, September 8th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Gulfport Energy has a consensus rating of "Hold" and an average price target of $208.50.

Gulfport Energy Stock Up 0.5%

GPOR stock opened at $162.11 on Thursday. The business's 50-day moving average price is $167.12 and its 200-day moving average price is $174.10. 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 stock has a market cap of $2.87 billion, a P/E ratio of 6.48 and a beta of 0.56. Gulfport Energy Corporation has a twelve month low of $149.18 and a twelve month high of $225.78.

Gulfport Energy (NYSE:GPOR - Get Free Report) last released its earnings results on Monday, August 3rd. The company reported $4.85 earnings per share for the quarter, beating analysts' consensus estimates of $3.82 by $1.03. The company had revenue of $323.23 million for the quarter. Gulfport Energy had a net margin of 32.28% and a return on equity of 21.87%. On average, equities research analysts forecast that Gulfport Energy Corporation will post 22.4 EPS for the current year.

Gulfport Energy Company Profile

Gulfport Energy Corporation NYSE: GPOR is an independent exploration and production company focused on developing and producing natural gas, natural gas liquids and oil. Its activities include acquiring, exploring, drilling and operating oil and gas properties.

The company's operations are concentrated in the Appalachian Basin, particularly the Utica and Marcellus shale plays in eastern Ohio. Gulfport sells the hydrocarbons produced from its wells into regional energy markets and relies on gathering and transportation infrastructure to move production to market.

Gulfport Energy traces its history to the late 1990s and has evolved from a broader domestic oil and gas producer into a company primarily focused on natural gas development in the eastern United States.

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