Gulfport Energy (NYSE:GPOR) Trading Down 3.6% - Here's What Happened

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

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on GPOR shares. JPMorgan Chase & Co. lifted their price objective on shares of Gulfport Energy from $208.00 to $236.00 and gave the company an "overweight" rating in a report on Friday, July 11th. Wall Street Zen raised shares of Gulfport Energy from a "hold" rating to a "buy" rating in a research report on Wednesday, June 11th. KeyCorp restated an "overweight" rating and issued a $215.00 price objective (up previously from $205.00) on shares of Gulfport Energy in a report on Thursday, May 22nd. Bank of America lifted their target price on Gulfport Energy from $217.00 to $218.00 and gave the company a "buy" rating in a research report on Friday, May 23rd. Finally, UBS Group set a $255.00 price target on Gulfport Energy and gave the company a "buy" rating in a research report 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. Based on data from MarketBeat, the company currently has an average rating of "Buy" and an average target price of $231.00.

Gulfport Energy Stock Performance

The stock has a market capitalization of $3.09 billion, a P/E ratio of 10.22 and a beta of 0.64. The firm's 50-day moving average price is $191.20. 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 Transactions at Gulfport Energy

In other Gulfport Energy news, Director Jason Joseph Martinez sold 700 shares of the business's stock in a transaction that occurred on Wednesday, June 4th. The stock was sold at an average price of $193.69, for a total transaction of $135,583.00. Following the transaction, the director owned 4,888 shares of the company's stock, valued at $946,756.72. The trade was a 12.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Matthew Willrath sold 633 shares of the firm's stock in a transaction that occurred on Thursday, May 29th. The shares were sold at an average price of $193.83, for a total value of $122,694.39. Following the completion of the sale, the chief accounting officer directly owned 2,342 shares of the company's stock, 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. Company insiders own 0.62% of the company's stock.

Hedge Funds Weigh In On Gulfport Energy

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GPOR. Toth Financial Advisory Corp bought a new position in shares of Gulfport Energy in the second quarter valued at about $85,000. Strs Ohio acquired a new position in Gulfport Energy in the 1st quarter valued at about $239,000. Pallas Capital Advisors LLC bought a new position in Gulfport Energy in the 2nd quarter valued at about $263,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management lifted its position in Gulfport Energy by 7.1% during the second quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 1,784 shares of the company's stock worth $359,000 after acquiring an additional 119 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC bought a new stake in shares of Gulfport Energy during the second quarter worth approximately $557,000.

Gulfport Energy Company Profile

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.