Pictet Asset Management Holding SA Decreases Stock Holdings in Gulfport Energy Corporation $GPOR

Key Points

• Pictet Asset Management trimmed its Gulfport Energy stake by 12.3% in Q4, selling 23,273 shares and holding 165,257 shares (~0.86% of the company) worth about $34.37 million.
• Corporate insiders have been net sellers recently — including director sales on March 2 and April 2 — with insiders selling 876,258 shares valued at $179.1 million over the past 90 days and now owning 0.70% of the stock.
• Analysts maintain a consensus "Moderate Buy" on GPOR with an average target of $230; the stock trades near $192 with a market cap of ~$3.47 billion and a P/E of 9.46.

Pictet Asset Management Holding SA lowered its position in shares of Gulfport Energy Corporation (NYSE:GPOR - Free Report) by 12.3% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 165,257 shares of the company's stock after selling 23,273 shares during the period. Pictet Asset Management Holding SA owned about 0.86% of Gulfport Energy worth $34,372,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Gulfport Energy by 2.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,552 shares of the company's stock valued at $1,391,000 after acquiring an additional 181 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Gulfport Energy by 14.8% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 95,749 shares of the company's stock worth $17,631,000 after purchasing an additional 12,327 shares during the last quarter. Intech Investment Management LLC increased its holdings in Gulfport Energy by 11.6% during the 1st quarter. Intech Investment Management LLC now owns 6,400 shares of the company's stock valued at $1,178,000 after purchasing an additional 665 shares during the period. Cetera Investment Advisers increased its holdings in Gulfport Energy by 16.7% during the 2nd quarter. Cetera Investment Advisers now owns 1,532 shares of the company's stock valued at $308,000 after purchasing an additional 219 shares during the period. Finally, Prudential Financial Inc. bought a new position in Gulfport Energy during the 2nd quarter valued at approximately $400,000.

Insiders Place Their Bets

In other news, Director Timothy J. Cutt sold 5,000 shares of the company'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 sale, the director directly owned 26,255 shares of the company's stock, valued at $5,480,206.15. This represents a 16.00% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jason Joseph Martinez sold 400 shares of the 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 owned 3,888 shares of the company's stock, valued at approximately $829,699.20. The trade was a 9.33% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 876,258 shares of company stock valued at $179,141,707 in the last 90 days. Corporate insiders own 0.70% of the company's stock.

Analysts Set New Price Targets

GPOR has been the subject of several research analyst reports. UBS Group dropped their price objective on Gulfport Energy from $260.00 to $245.00 and set a "buy" rating for the company in a report on Thursday, April 16th. Bank of America upped their target price on Gulfport Energy from $215.00 to $237.00 and gave the company a "buy" rating in a report on Thursday, March 19th. Wolfe Research lowered Gulfport Energy from an "outperform" rating to a "peer perform" rating in a research note on Monday, January 5th. JPMorgan Chase & Co. lifted their price target on shares of Gulfport Energy from $228.00 to $229.00 and gave the company an "overweight" rating in a report on Monday, March 16th. Finally, Zacks Research raised shares of Gulfport Energy from a "strong sell" rating to a "hold" rating in a research report on Wednesday, January 7th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $230.00.

Gulfport Energy Stock Performance

Gulfport Energy stock opened at $192.27 on Thursday. Gulfport Energy Corporation has a fifty-two week low of $160.95 and a fifty-two week high of $225.78. The stock's 50 day simple moving average is $201.11 and its two-hundred day simple moving average is $199.58. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.68 and a current ratio of 0.68. The stock has a market cap of $3.47 billion, a price-to-earnings ratio of 9.46 and a beta of 0.59.

Gulfport Energy (NYSE:GPOR - Get Free Report) last announced its earnings results on Tuesday, February 24th. The company reported $5.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.61 by ($0.01). Gulfport Energy had a return on equity of 21.85% and a net margin of 30.01%.The firm had revenue of $398.19 million during the quarter, compared to the consensus estimate of $373.24 million. As a group, analysts expect that Gulfport Energy Corporation will post 25.68 earnings per share for the current fiscal year.

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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