Miller Howard Investments Inc. NY Raises Holdings in Gulfport Energy Corporation $GPOR

Key Points

• Miller Howard Investments Inc. NY increased its stake in Gulfport Energy by 84.4%, owning approximately $4.9 million worth of shares after acquiring additional shares in the second quarter.
• Gulfport Energy reported $4.06 earnings per share for the recent quarter, missing analysts' expectations of $4.91, even though revenues surpassed estimates at $447.62 million.
• Analyst ratings show a mixed outlook for Gulfport Energy, with targets ranging from $199.00 to $236.00 and a consensus rating of "Moderate Buy".

Miller Howard Investments Inc. NY increased its holdings in Gulfport Energy Corporation (NYSE:GPOR - Free Report) by 84.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,380 shares of the company's stock after purchasing an additional 11,157 shares during the quarter. Miller Howard Investments Inc. NY owned 0.14% of Gulfport Energy worth $4,905,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Canoe Financial LP bought a new position in shares of Gulfport Energy in the second quarter worth about $13,257,000. Livforsakringsbolaget Skandia Omsesidigt raised its stake in shares of Gulfport Energy by 337.6% in the second quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 61,700 shares of the company's stock worth $12,412,000 after acquiring an additional 47,600 shares during the last quarter. Assenagon Asset Management S.A. grew its position in shares of Gulfport Energy by 243.6% during the 2nd quarter. Assenagon Asset Management S.A. now owns 42,763 shares of the company's stock worth $8,603,000 after buying an additional 30,317 shares during the period. Wealth Enhancement Advisory Services LLC acquired a new stake in shares of Gulfport Energy during the 2nd quarter worth approximately $557,000. Finally, Pallas Capital Advisors LLC acquired a new stake in shares of Gulfport Energy during the 2nd quarter worth approximately $263,000.

Wall Street Analysts Forecast Growth

GPOR has been the subject of several research analyst reports. TD Cowen upgraded shares of Gulfport Energy to a "strong-buy" rating in a report on Monday, July 7th. KeyCorp reduced their price target on Gulfport Energy from $215.00 to $205.00 and set an "overweight" rating for the company in a research note on Wednesday, September 3rd. Mizuho dropped their price objective on Gulfport Energy from $227.00 to $199.00 and set a "neutral" rating on the stock in a research note on Monday, September 15th. William Blair began coverage on shares of Gulfport Energy in a research note on Monday, August 25th. They set an "outperform" rating for the company. Finally, Wall Street Zen raised shares of Gulfport Energy from a "hold" rating to a "buy" rating in a report on Saturday, August 9th. One investment 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 issued a Sell rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $217.00.

Gulfport Energy Stock Performance

NYSE:GPOR traded up $3.59 during trading hours on Tuesday, reaching $172.51. The stock had a trading volume of 48,113 shares, compared to its average volume of 256,951. The company's 50 day moving average price is $171.98. Gulfport Energy Corporation has a 52 week low of $136.45 and a 52 week high of $210.32. The company has a market capitalization of $3.03 billion, a PE ratio of -24.03 and a beta of 0.62. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.51 and a quick ratio of 0.51.

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

Insiders Place Their Bets

In related news, Director Jason Joseph Martinez sold 600 shares of the firm's stock in a transaction dated Tuesday, September 9th. The stock was sold at an average price of $171.57, for a total transaction of $102,942.00. Following the sale, the director owned 4,288 shares of the company's stock, valued at $735,692.16. This trade represents a 12.27% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.33% of the stock is currently owned by insiders.

Gulfport Energy Company 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.