Insider Selling: Gulfport Energy (NYSE:GPOR) Director Sells 600 Shares of Stock

Key Points

• Gulfport Energy Director Jason Joseph Martinez sold 600 shares on September 9th, reducing his stake by 12.27%, with total proceeds of $102,942.
• The company's stock price increased 0.2% to $170.31, despite reporting earnings that missed consensus estimates in the latest quarter.
• Analysts maintain a generally positive outlook on Gulfport Energy, with a consensus price target of $221.50 and several upgrades from institutions and equity analysts.

Gulfport Energy Corporation (NYSE:GPOR - Get Free Report) Director Jason Joseph Martinez sold 600 shares of the firm's stock in a transaction that occurred on Tuesday, September 9th. The shares were sold at an average price of $171.57, for a total value of $102,942.00. Following the transaction, the director owned 4,288 shares of the company's stock, valued at $735,692.16. This represents a 12.27% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Gulfport Energy Stock Up 0.2%

NYSE GPOR traded up $0.30 during trading on Tuesday, hitting $170.31. 206,381 shares of the stock traded hands, compared to its average volume of 222,586. The firm has a market capitalization of $2.99 billion, a P/E ratio of 9.61 and a beta of 0.62. The company has a 50-day moving average of $173.92. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 0.42. Gulfport Energy Corporation has a 12-month low of $135.84 and a 12-month high of $210.32.

Gulfport Energy (NYSE:GPOR - Get Free Report) last released 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). The firm had revenue of $447.62 million for the quarter, compared to analysts' expectations of $334.57 million. Gulfport Energy had a negative net margin of 9.14% and a positive return on equity of 18.89%.

Institutional Investors Weigh In On Gulfport Energy

A number of institutional investors and hedge funds have recently modified their holdings of the business. SummerHaven Investment Management LLC lifted its stake in shares of Gulfport Energy by 1.6% during the 2nd quarter. SummerHaven Investment Management LLC now owns 5,145 shares of the company's stock worth $1,035,000 after acquiring an additional 83 shares during the last quarter. Rafferty Asset Management LLC lifted its stake in shares of Gulfport Energy by 0.6% during the 2nd quarter. Rafferty Asset Management LLC now owns 17,836 shares of the company's stock worth $3,588,000 after acquiring an additional 108 shares during the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management lifted its stake in shares of Gulfport Energy by 7.1% during the 2nd 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. Resona Asset Management Co. Ltd. lifted its stake in shares of Gulfport Energy by 4.6% during the 2nd quarter. Resona Asset Management Co. Ltd. now owns 2,739 shares of the company's stock worth $551,000 after acquiring an additional 121 shares during the last quarter. Finally, Oliver Luxxe Assets LLC lifted its stake in shares of Gulfport Energy by 1.5% during the 2nd quarter. Oliver Luxxe Assets LLC now owns 11,245 shares of the company's stock worth $2,262,000 after acquiring an additional 162 shares during the last quarter.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on GPOR shares. UBS Group cut their price target on Gulfport Energy from $240.00 to $227.00 and set a "buy" rating for the company in a report on Wednesday, August 20th. JPMorgan Chase & Co. raised 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. KeyCorp lowered their price objective on Gulfport Energy from $215.00 to $205.00 and set an "overweight" rating for the company in a research note on Wednesday, September 3rd. Wall Street Zen raised Gulfport Energy from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. Finally, TD Cowen raised Gulfport Energy to a "strong-buy" rating in a research note on Monday, July 7th. One equities research analyst has rated the stock with a Strong Buy rating and five have assigned a Buy rating to the stock. According to data from MarketBeat, Gulfport Energy presently has an average rating of "Buy" and a consensus price target of $221.50.

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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