Gulfport Energy (NYSE:GPOR) Price Target Cut to $190.00 by Analysts at Evercore ISI

Key Points

• Evercore ISI has reduced its price target for Gulfport Energy from $193.00 to $190.00, maintaining an "in-line" rating, suggesting a potential upside of 2.32% from the last close.
• Recent ratings from various analysts include Zacks cutting Gulfport Energy to a "strong sell," while Wall Street Zen upgraded it to a "buy."
• Gulfport Energy reported earnings of $4.06 per share, missing estimates, but exceeded revenue expectations with $447.62 million for the quarter.

Gulfport Energy (NYSE:GPOR - Get Free Report) had its price target cut by equities research analysts at Evercore ISI from $193.00 to $190.00 in a report issued on Monday,Benzinga reports. The firm currently has an "in-line" rating on the stock. Evercore ISI's price target suggests a potential upside of 2.32% from the company's previous close.

A number of other equities analysts have also recently weighed in on the company. Zacks Research cut Gulfport Energy from a "hold" rating to a "strong sell" rating in a report on Tuesday, September 9th. Wall Street Zen raised Gulfport Energy from a "hold" rating to a "buy" rating in a report on Saturday, August 9th. TD Cowen raised Gulfport Energy to a "strong-buy" rating in a report on Monday, July 7th. Mizuho reduced their target price on Gulfport Energy from $227.00 to $199.00 and set a "neutral" rating for the company in a report on Monday, September 15th. Finally, JPMorgan Chase & Co. increased their target price on Gulfport Energy from $208.00 to $236.00 and gave the company an "overweight" rating in a report on Friday, July 11th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $212.50.

Gulfport Energy Price Performance

Shares of GPOR stock opened at $185.70 on Monday. Gulfport Energy has a 1-year low of $136.45 and a 1-year high of $210.32. The stock's fifty day simple moving average is $172.42. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 0.42. The stock has a market cap of $3.26 billion, a P/E ratio of -25.86 and a beta of 0.62.

Gulfport Energy (NYSE:GPOR - Get Free Report) last posted its quarterly earnings results on Tuesday, August 5th. The company reported $4.06 earnings per share for the quarter, missing the consensus estimate of $4.91 by ($0.85). Gulfport Energy had a negative net margin of 9.14% and a positive return on equity of 18.89%. The firm had revenue of $447.62 million for the quarter, compared to analysts' expectations of $334.57 million.

Insider Activity

In other news, Director Jason Joseph Martinez sold 600 shares of the company's stock in a transaction that occurred on Tuesday, September 9th. The stock was sold at an average price of $171.57, for a total value of $102,942.00. Following the completion of the sale, the director directly owned 4,288 shares in the company, valued at $735,692.16. This represents a 12.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.62% of the stock is owned by company insiders.

Institutional Investors Weigh In On Gulfport Energy

A number of large investors have recently made changes to their positions in GPOR. Jennison Associates LLC grew its position in Gulfport Energy by 49.3% in the second quarter. Jennison Associates LLC now owns 565,194 shares of the company's stock worth $113,700,000 after acquiring an additional 186,531 shares during the period. Alliancebernstein L.P. grew its position in Gulfport Energy by 328.6% in the second quarter. Alliancebernstein L.P. now owns 131,926 shares of the company's stock worth $26,540,000 after acquiring an additional 101,146 shares during the period. Canoe Financial LP purchased a new position in Gulfport Energy in the second quarter worth approximately $13,257,000. Schroder Investment Management Group purchased a new position in Gulfport Energy in the second quarter worth approximately $11,736,000. Finally, Sei Investments Co. boosted its position in shares of Gulfport Energy by 219.7% during the second quarter. Sei Investments Co. now owns 69,708 shares of the company's stock worth $14,023,000 after buying an additional 47,907 shares during the period.

About Gulfport Energy

Gulfport Energy Corporation engages in the exploration, development, acquisition, production of natural gas, crude oil, and natural gas liquids (NGL) in the United States. Its principal properties include Utica Shale covering an area approximately 187,000 net reservoir acres primarily located in Eastern Ohio; and SCOOP covering an area approximately 74,000 net reservoir acres primarily located in Garvin, Grady, and Stephens.

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