Jennison Associates LLC Cuts Stake in Gulfport Energy Corporation $GPOR

Key Points

• Jennison Associates LLC reduced its stake in Gulfport Energy by 7.5% in the first quarter, selling 50,636 shares and ending with 620,847 shares worth about $131.4 million.
• The stock was trading down slightly at $153.09, near its 52-week low of $149.60, with a market cap of $2.75 billion and a low P/E ratio of 5.23.
• Analyst sentiment remains mixed: ratings range from strong buy to strong sell, but the overall consensus is still “Moderate Buy” with an average target price of $227.

Jennison Associates LLC lessened its position in Gulfport Energy Corporation (NYSE:GPOR - Free Report) by 7.5% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 620,847 shares of the company's stock after selling 50,636 shares during the period. Jennison Associates LLC owned approximately 3.44% of Gulfport Energy worth $131,352,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in GPOR. Advisory Services Network LLC purchased a new stake in Gulfport Energy in the 3rd quarter valued at approximately $28,000. Allworth Financial LP lifted its holdings in Gulfport Energy by 113.3% in the fourth quarter. Allworth Financial LP now owns 160 shares of the company's stock valued at $33,000 after acquiring an additional 85 shares during the period. EverSource Wealth Advisors LLC boosted its position in shares of Gulfport Energy by 364.8% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 251 shares of the company's stock worth $50,000 after purchasing an additional 197 shares in the last quarter. Kestra Advisory Services LLC acquired a new position in shares of Gulfport Energy during the 4th quarter worth $54,000. Finally, Caitong International Asset Management Co. Ltd grew its stake in shares of Gulfport Energy by 866.7% during the 4th 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 Trading Down 0.2%

NYSE GPOR opened at $153.09 on Friday. Gulfport Energy Corporation has a 12 month low of $149.60 and a 12 month high of $225.78. The company has a 50-day moving average of $167.66 and a 200-day moving average of $187.31. The company has a market cap of $2.75 billion, a P/E ratio of 5.23 and a beta of 0.41. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.56 and a quick ratio of 0.56.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Weiss Ratings cut shares of Gulfport Energy from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Thursday. Mizuho upgraded shares of Gulfport Energy from a "neutral" rating to an "outperform" rating and upped their target price for the stock from $251.00 to $252.00 in a research report on Wednesday, May 27th. UBS Group dropped their target price on shares of Gulfport Energy from $260.00 to $245.00 and set a "buy" rating for the company in a report on Thursday, April 16th. Truist Financial reduced their price target on shares of Gulfport Energy from $219.00 to $190.00 and set a "hold" rating for the company in a research report on Friday, July 10th. 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 assigned a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $227.00.

Gulfport Energy 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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