Gulfport Energy (NYSE:GPOR) Posts Earnings Results, Misses Estimates By $0.85 EPS

Key Points

• Gulfport Energy reported quarterly earnings of $4.06 per share, missing analyst estimates by $0.85.
• The company's stock is currently rated as "Buy" by most analysts, with a consensus price target of $231.00.
• Insider selling activity has been noted, with significant share sales by the Chief Accounting Officer and a Director, indicating potential shifts in management's confidence.

Gulfport Energy (NYSE:GPOR - Get Free Report) posted its earnings results on Tuesday. The company reported $4.06 EPS for the quarter, missing the consensus estimate of $4.91 by ($0.85), Zacks reports. The business had revenue of $447.62 million for the quarter, compared to analyst estimates of $334.57 million. Gulfport Energy had a positive return on equity of 18.89% and a negative net margin of 9.14%.

Gulfport Energy Stock Down 1.0%

GPOR stock traded down $1.62 during midday trading on Friday, reaching $167.10. 241,187 shares of the company's stock traded hands, compared to its average volume of 280,668. Gulfport Energy has a 52 week low of $135.49 and a 52 week high of $210.32. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.43 and a current ratio of 0.51. The firm has a market capitalization of $2.93 billion, a P/E ratio of -23.27 and a beta of 0.62. The firm has a fifty day simple moving average of $185.84.

Insider Buying and Selling at Gulfport Energy

In other news, Director Jason Joseph Martinez sold 700 shares of the company's stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $193.69, for a total value of $135,583.00. Following the completion of the sale, the director owned 4,888 shares in the company, valued at $946,756.72. This represents a 12.53% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Matthew Willrath sold 633 shares of the company's stock in a transaction on Thursday, May 29th. The stock was sold at an average price of $193.83, for a total transaction of $122,694.39. Following the completion of the sale, the chief accounting officer owned 2,342 shares of the company's stock, valued at approximately $453,949.86. The trade was a 21.28% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.62% of the company's stock.

Institutional Trading of Gulfport Energy

A hedge fund recently raised its stake in Gulfport Energy stock. Cetera Investment Advisers increased its stake in Gulfport Energy Corporation (NYSE:GPOR - Free Report) by 16.7% during the second quarter, according to its most recent filing with the SEC. The fund owned 1,532 shares of the company's stock after buying an additional 219 shares during the quarter. Cetera Investment Advisers' holdings in Gulfport Energy were worth $308,000 at the end of the most recent quarter.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. Bank of America boosted their price target on shares of Gulfport Energy from $217.00 to $218.00 and gave the stock a "buy" rating in a research report on Friday, May 23rd. KeyCorp restated an "overweight" rating and issued a $215.00 price target (up previously from $205.00) on shares of Gulfport Energy in a research report on Thursday, May 22nd. UBS Group set a $255.00 price target on shares of Gulfport Energy and gave the stock a "buy" rating in a research report on Thursday, June 26th. TD Cowen upgraded shares of Gulfport Energy to a "strong-buy" rating in a research report on Monday, July 7th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Gulfport Energy from $208.00 to $236.00 and gave the stock an "overweight" rating in a research report on Friday, July 11th. Five research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Gulfport Energy has a consensus rating of "Buy" and an average target price of $231.00.

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.