TD Cowen Upgrades Gulfport Energy (NYSE:GPOR) to "Strong-Buy"

Gulfport Energy (NYSE:GPOR - Get Free Report) was upgraded by research analysts at TD Cowen to a "strong-buy" rating in a report issued on Monday,Zacks.com reports.

A number of other brokerages also recently issued reports on GPOR. Bank of America lifted their price objective 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 set a $215.00 price target (up previously from $205.00) on shares of Gulfport Energy in a research note on Thursday, May 22nd. UBS Group set a $255.00 price objective on shares of Gulfport Energy and gave the company a "buy" rating in a research report on Thursday, June 26th. Finally, Wall Street Zen raised shares of Gulfport Energy from a "hold" rating to a "buy" rating in a research report on Wednesday, June 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, the company currently has a consensus rating of "Buy" and a consensus target price of $231.00.

Gulfport Energy Price Performance

GPOR traded up $8.31 during trading hours on Monday, reaching $184.24. 322,052 shares of the company's stock traded hands, compared to its average volume of 276,842. Gulfport Energy has a 52-week low of $130.02 and a 52-week high of $210.32. The stock has a market cap of $3.27 billion, a P/E ratio of -10.34 and a beta of 0.64. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.45.

Insider Activity

In related news, CAO Matthew Willrath sold 633 shares of the stock in a transaction on Thursday, May 29th. The stock was sold at an average price of $193.83, for a total value of $122,694.39. Following the completion of the transaction, the chief accounting officer directly owned 2,342 shares of the company's stock, valued at approximately $453,949.86. This represents a 21.28% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jason Joseph Martinez sold 700 shares of the company's stock in a transaction 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 sale, the director directly owned 4,888 shares of the company's stock, valued at $946,756.72. The trade was a 12.53% decrease in their position. The disclosure for this sale can be found here. 0.62% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Gulfport Energy

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Strs Ohio purchased a new position in shares of Gulfport Energy during the 1st quarter worth $239,000. Pallas Capital Advisors LLC purchased a new position in Gulfport Energy during the second quarter worth about $263,000. Wealth Enhancement Advisory Services LLC acquired a new position in Gulfport Energy in the 2nd quarter valued at about $557,000. Livforsakringsbolaget Skandia Omsesidigt grew its stake in shares of Gulfport Energy by 21.3% in the 2nd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 17,100 shares of the company's stock valued at $3,437,000 after buying an additional 3,000 shares during the period. Finally, Rhumbline Advisers increased its holdings in shares of Gulfport Energy by 1.2% during the 1st quarter. Rhumbline Advisers now owns 20,623 shares of the company's stock worth $3,798,000 after buying an additional 248 shares during the last quarter.

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.