Wellington Management Group LLP Sells 89,486 Shares of Gulfport Energy Corporation $GPOR

Key Points

• Wellington Management cut its Gulfport Energy stake by 75.1% in the second quarter, selling 89,486 shares and retaining 29,632 shares valued at approximately $5.0 million.
• Analyst sentiment remains mixed: Gulfport has an overall “Hold” consensus rating and a $216.60 average price target, though several firms recently lowered their targets, including JPMorgan to $194.
• Gulfport reported strong quarterly results, posting $4.85 in EPS versus the $3.82 consensus estimate and $323.23 million in revenue; the stock opened at $175.76, down 2.4%.

Wellington Management Group LLP reduced its stake in shares of Gulfport Energy Corporation (NYSE:GPOR - Free Report) by 75.1% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 29,632 shares of the company's stock after selling 89,486 shares during the quarter. Wellington Management Group LLP owned 0.17% of Gulfport Energy worth $5,029,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of GPOR. Assenagon Asset Management S.A. raised its stake in Gulfport Energy by 4,946.1% in the first quarter. Assenagon Asset Management S.A. now owns 467,419 shares of the company's stock valued at $98,892,000 after purchasing an additional 458,156 shares in the last quarter. Millennium Management LLC increased its holdings in Gulfport Energy by 1,281.6% in the 3rd quarter. Millennium Management LLC now owns 426,034 shares of the company's stock valued at $77,104,000 after buying an additional 395,197 shares during the period. Ninepoint Partners LP bought a new position in Gulfport Energy in the 4th quarter valued at about $41,598,000. Victory Capital Management Inc. raised its position in shares of Gulfport Energy by 50.3% in the 4th quarter. Victory Capital Management Inc. now owns 527,393 shares of the company's stock valued at $109,692,000 after buying an additional 176,386 shares in the last quarter. Finally, Whitebox Advisors LLC raised its position in shares of Gulfport Energy by 148.6% in the 3rd quarter. Whitebox Advisors LLC now owns 274,627 shares of the company's stock valued at $49,702,000 after buying an additional 164,178 shares in the last quarter.

Insider Buying and Selling at Gulfport Energy

In other news, CEO Domenic J. Dell'osso, Jr. acquired 1,600 shares of Gulfport Energy stock in a transaction that occurred on Friday, August 7th. The shares were acquired at an average price of $160.61 per share, for a total transaction of $256,976.00. Following the transaction, the chief executive officer directly owned 24,349 shares of the company's stock, valued at approximately $3,910,692.89. The trade was a 7.03% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Matthew Willrath sold 325 shares of the business's stock in a transaction on Wednesday, September 2nd. The stock was sold at an average price of $182.69, for a total value of $59,374.25. Following the sale, the chief accounting officer owned 2,130 shares in the company, valued at $389,129.70. This represents a 13.24% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.70% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research firms recently issued reports on GPOR. JPMorgan Chase & Co. reiterated an "underweight" rating and set a $194.00 price target (down from $240.00) on shares of Gulfport Energy in a research report on Tuesday. Truist Financial lowered their price objective on shares of Gulfport Energy from $190.00 to $186.00 and set a "hold" rating for the company in a research report on Wednesday, August 5th. Stifel Nicolaus set a $193.00 target price on Gulfport Energy in a research note on Wednesday. UBS Group reduced their target price on Gulfport Energy from $223.00 to $214.00 and set a "buy" rating on the stock in a report on Wednesday, August 5th. Finally, Weiss Ratings lowered Gulfport Energy from a "hold (c+)" rating to a "hold (c)" rating in a research note on Friday, August 21st. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, six have issued a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $216.60.

Gulfport Energy Trading Down 2.4%

Shares of Gulfport Energy stock opened at $175.76 on Thursday. The firm's 50 day moving average is $165.79 and its 200 day moving average is $179.88. The firm has a market capitalization of $3.11 billion, a PE ratio of 7.03 and a beta of 0.43. Gulfport Energy Corporation has a 1 year low of $149.18 and a 1 year high of $225.78. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 0.51.

Gulfport Energy (NYSE:GPOR - Get Free Report) last issued its quarterly earnings data on Monday, August 3rd. The company reported $4.85 EPS for the quarter, beating the consensus estimate of $3.82 by $1.03. Gulfport Energy had a net margin of 32.28% and a return on equity of 21.87%. The business had revenue of $323.23 million during the quarter. Equities research analysts forecast that Gulfport Energy Corporation will post 22.25 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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