Gulfport Energy Corporation $GPOR Shares Sold by Principal Financial Group Inc.

Key Points

• Principal Financial Group cut its Gulfport Energy stake by 11.6% in the first quarter, selling 40,594 shares and leaving it with 310,017 shares valued at about $65.6 million.
• Several other institutional investors also changed positions in GPOR, with some new buyers and others sharply increasing holdings, indicating ongoing institutional activity around the stock.
• Gulfport Energy shares traded at $153.74, near the lower end of its 52-week range, while analysts still see upside overall with a Moderate Buy consensus and an average target price of $227.

Principal Financial Group Inc. lowered its holdings in shares of Gulfport Energy Corporation (NYSE:GPOR - Free Report) by 11.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 310,017 shares of the company's stock after selling 40,594 shares during the period. Principal Financial Group Inc. owned approximately 1.72% of Gulfport Energy worth $65,590,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in GPOR. Advisory Services Network LLC bought a new position in shares of Gulfport Energy in the third quarter worth $28,000. Allworth Financial LP raised its stake in shares of Gulfport Energy by 113.3% during the fourth quarter. Allworth Financial LP now owns 160 shares of the company's stock valued at $33,000 after purchasing an additional 85 shares in the last quarter. EverSource Wealth Advisors LLC raised its stake in shares of Gulfport Energy by 364.8% during the second quarter. EverSource Wealth Advisors LLC now owns 251 shares of the company's stock valued at $50,000 after purchasing an additional 197 shares in the last quarter. Kestra Advisory Services LLC acquired a new stake in Gulfport Energy in the fourth quarter worth about $54,000. Finally, Caitong International Asset Management Co. Ltd lifted its holdings in Gulfport Energy by 866.7% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 406 shares of the company's stock worth $84,000 after purchasing an additional 364 shares during the period.

Gulfport Energy Stock Performance

NYSE:GPOR opened at $153.74 on Friday. The company has a 50-day moving average of $168.17 and a 200-day moving average of $187.55. The firm has a market cap of $2.76 billion, a price-to-earnings ratio of 5.25 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. Gulfport Energy Corporation has a twelve month low of $149.60 and a twelve month high of $225.78.

Wall Street Analysts Forecast Growth

GPOR has been the topic of several research analyst reports. Bank of America raised their target price on shares of Gulfport Energy from $215.00 to $237.00 and gave the company a "buy" rating in a research note on Thursday, March 19th. Weiss Ratings cut shares of Gulfport Energy from a "buy (b)" rating to a "buy (b-)" rating in a report on Friday, June 26th. Truist Financial lowered their price objective on shares of Gulfport Energy from $219.00 to $190.00 and set a "hold" rating on the stock in a research note on Friday, July 10th. Mizuho raised Gulfport Energy from a "neutral" rating to an "outperform" rating and boosted their target price for the stock from $251.00 to $252.00 in a report on Wednesday, May 27th. Finally, Zacks Research downgraded Gulfport Energy from a "hold" rating to a "strong sell" rating in a research report on Monday. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Gulfport Energy presently has a consensus rating of "Moderate Buy" and a consensus target price of $227.00.

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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