Gulfport Energy (NYSE:GPOR) Shares Down 3.6% - Should You Sell?

Gulfport Energy Corporation (NYSE:GPOR - Get Free Report) dropped 3.6% on Monday . The stock traded as low as $177.69 and last traded at $180.33. Approximately 14,374 shares were traded during mid-day trading, a decline of 94% from the average daily volume of 250,340 shares. The stock had previously closed at $187.13.

Analysts Set New Price Targets

GPOR has been the topic of several analyst reports. TD Cowen upgraded Gulfport Energy to a "strong-buy" rating in a research note on Monday, July 7th. Wall Street Zen upgraded Gulfport Energy from a "hold" rating to a "buy" rating in a research note on Wednesday, June 11th. JPMorgan Chase & Co. increased their price objective on Gulfport Energy from $208.00 to $236.00 and gave the company an "overweight" rating in a research note on Friday, July 11th. Bank of America increased their price objective on Gulfport Energy from $217.00 to $218.00 and gave the company a "buy" rating in a research note on Friday, May 23rd. Finally, UBS Group set a $255.00 price objective on Gulfport Energy and gave the company a "buy" rating in a research note on Thursday, June 26th. Five investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average price target of $231.00.

Gulfport Energy Stock Performance

The firm has a market cap of $3.04 billion, a P/E ratio of -9.62 and a beta of 0.64. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.45.

Insider Buying and Selling at Gulfport Energy

In related 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 transaction, the director directly owned 4,888 shares of the company's stock, valued at approximately $946,756.72. This represents a 12.53% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Matthew Willrath sold 633 shares of the company's stock in a transaction dated Thursday, May 29th. The shares were 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 directly owned 2,342 shares in the company, valued at approximately $453,949.86. The trade was a 21.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.62% of the stock is owned by insiders.

Institutional Investors Weigh In On Gulfport Energy

Several hedge funds and other institutional investors have recently bought and sold shares of GPOR. Congress Asset Management Co. bought a new stake in Gulfport Energy during the 2nd quarter worth approximately $6,905,000. Sheets Smith Wealth Management bought a new position in Gulfport Energy in the 2nd quarter worth $688,000. Strs Ohio bought a new position in Gulfport Energy in the 1st quarter worth $239,000. Assenagon Asset Management S.A. raised its holdings in Gulfport Energy by 243.6% in the 2nd quarter. Assenagon Asset Management S.A. now owns 42,763 shares of the company's stock worth $8,603,000 after purchasing an additional 30,317 shares in the last quarter. Finally, Counterpoint Mutual Funds LLC bought a new position in Gulfport Energy in the 2nd quarter worth $2,589,000.

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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