Gulfport Energy Corporation $GPOR Shares Sold by Penn Capital Management Company LLC

Key Points

• Penn Capital Management reduced its Gulfport Energy stake by 12.0% in the fourth quarter, selling 13,200 shares and leaving it with 96,798 shares valued at about $20.2 million.
• Several other institutional investors also adjusted holdings, with firms like Vanguard, Jennison Associates, and Millennium Management increasing their positions in GPOR.
• Wall Street remains cautiously positive: the stock has a Moderate Buy consensus rating, while analysts’ average price target is $230.11 versus a recent share price of $172.75.

Penn Capital Management Company LLC cut its holdings in shares of Gulfport Energy Corporation (NYSE:GPOR - Free Report) by 12.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 96,798 shares of the company's stock after selling 13,200 shares during the period. Gulfport Energy comprises about 1.6% of Penn Capital Management Company LLC's investment portfolio, making the stock its 7th biggest holding. Penn Capital Management Company LLC owned approximately 0.50% of Gulfport Energy worth $20,184,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. Vanguard Group Inc. grew its stake in shares of Gulfport Energy by 6.8% during the third quarter. Vanguard Group Inc. now owns 1,078,379 shares of the company's stock valued at $195,165,000 after acquiring an additional 68,664 shares in the last quarter. Jennison Associates LLC grew its stake in shares of Gulfport Energy by 14.2% during the fourth quarter. Jennison Associates LLC now owns 671,483 shares of the company's stock valued at $139,662,000 after acquiring an additional 83,613 shares in the last quarter. State Street Corp grew its stake in Gulfport Energy by 1.8% in the second quarter. State Street Corp now owns 482,458 shares of the company's stock worth $97,056,000 after purchasing an additional 8,668 shares in the last quarter. Millennium Management LLC grew its stake in Gulfport Energy by 1,281.6% in the third quarter. Millennium Management LLC now owns 426,034 shares of the company's stock worth $77,104,000 after purchasing an additional 395,197 shares in the last quarter. Finally, Adage Capital Partners GP L.L.C. grew its stake in Gulfport Energy by 10.2% in the second quarter. Adage Capital Partners GP L.L.C. now owns 400,803 shares of the company's stock worth $80,630,000 after purchasing an additional 36,953 shares in the last quarter.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on GPOR. Truist Financial decreased their price target on Gulfport Energy from $230.00 to $219.00 and set a "hold" rating for the company in a research note on Friday, May 8th. JPMorgan Chase & Co. lifted their price target on Gulfport Energy from $228.00 to $229.00 and gave the stock an "overweight" rating in a research note on Monday, March 16th. Mizuho lifted their price target on Gulfport Energy from $248.00 to $251.00 and gave the stock a "neutral" rating in a research note on Wednesday, May 6th. Bank of America lifted their price target on Gulfport Energy from $215.00 to $237.00 and gave the stock a "buy" rating in a research note on Thursday, March 19th. Finally, Weiss Ratings upgraded Gulfport Energy from a "hold (c)" rating to a "buy (b)" rating in a research note on Monday, March 2nd. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and seven have given a Hold rating to the company. According to MarketBeat.com, Gulfport Energy presently has a consensus rating of "Moderate Buy" and a consensus price target of $230.11.

Gulfport Energy Stock Performance

Shares of NYSE GPOR opened at $172.75 on Wednesday. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 0.46. The firm's 50-day moving average price is $194.22 and its two-hundred day moving average price is $199.35. Gulfport Energy Corporation has a 52-week low of $160.95 and a 52-week high of $225.78. The stock has a market capitalization of $3.10 billion, a P/E ratio of 5.90 and a beta of 0.46.

Gulfport Energy (NYSE:GPOR - Get Free Report) last issued its earnings results on Tuesday, February 24th. The company reported $5.60 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $5.61 by ($0.01). Gulfport Energy had a return on equity of 23.51% and a net margin of 35.72%.The business had revenue of $398.19 million during the quarter, compared to the consensus estimate of $373.24 million. As a group, sell-side analysts forecast that Gulfport Energy Corporation will post 24.82 earnings per share for the current year.

Insider Transactions at Gulfport Energy

In other Gulfport Energy news, Director Timothy J. Cutt sold 5,000 shares of the firm's stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $208.73, for a total value of $1,043,650.00. Following the transaction, the director owned 26,255 shares of the company's stock, valued at $5,480,206.15. This trade represents a 16.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Jason Joseph Martinez sold 400 shares of the firm's stock in a transaction dated Thursday, April 2nd. The stock was sold at an average price of $213.40, for a total transaction of $85,360.00. Following the completion of the transaction, the director directly owned 3,888 shares in the company, valued at $829,699.20. This represents a 9.33% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 876,258 shares of company stock valued at $179,141,707 over the last ninety days. Insiders own 0.70% of the company's stock.

Gulfport Energy Company Profile

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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