Gulfport Energy (NYSE:GPOR) Shares Gap Down - Here's What Happened

Key Points

• Gulfport Energy shares fell 4.1%, opening at $156.41 versus a prior close of $161.91, with the latest reported trade at $156.0640.
• Analyst sentiment is mixed but leans toward “Hold”: Jefferies downgraded the stock and cut its target to $180, while the consensus rating is Hold with a $210.50 price target.
• The company reported quarterly EPS of $4.85, beating expectations of $3.82, on revenue of $323.23 million; CEO Domenic Dell’Osso also purchased 1,600 shares at an average price of $160.61.

Gulfport Energy Corporation (NYSE:GPOR - Get Free Report) gapped down prior to trading on Friday. The stock had previously closed at $161.91, but opened at $156.41. Gulfport Energy shares last traded at $156.0640, with a volume of 33,991 shares changing hands.

Wall Street Analyst Weigh In

GPOR has been the subject of a number of research reports. Jefferies Financial Group downgraded Gulfport Energy from a "buy" rating to a "hold" rating and dropped their target price for the stock from $239.00 to $180.00 in a report on Friday. Zacks Research upgraded shares of Gulfport Energy from a "strong sell" rating to a "hold" rating in a research note on Tuesday, September 8th. Pickering Energy Partners began coverage on shares of Gulfport Energy in a research report on Tuesday. They set an "outperform" rating on the stock. Stifel Nicolaus assumed coverage on shares of Gulfport Energy in a research report on Wednesday, September 9th. They set a "hold" rating and a $193.00 price target on the stock. Finally, Truist Financial dropped their price objective on shares of Gulfport Energy from $190.00 to $186.00 and set a "hold" rating for the company in a research note on Wednesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $210.50.

Gulfport Energy Stock Down 4.1%

The stock has a 50-day moving average of $167.03 and a 200-day moving average of $176.76. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.58 and a quick ratio of 0.58. The firm has a market cap of $2.75 billion, a price-to-earnings ratio of 6.24 and a beta of 0.43.

Gulfport Energy (NYSE:GPOR - Get Free Report) last announced its quarterly earnings data on Monday, August 3rd. The company reported $4.85 earnings per share for the quarter, beating the consensus estimate of $3.82 by $1.03. The firm had revenue of $323.23 million during the quarter. Gulfport Energy had a return on equity of 21.87% and a net margin of 32.28%. Sell-side analysts predict that Gulfport Energy Corporation will post 22.25 EPS for the current fiscal year.

Insider Transactions at Gulfport Energy

In related news, CEO Domenic Dell'osso, Jr. purchased 1,600 shares of the company's stock in a transaction that occurred on Friday, August 7th. The stock was acquired at an average price of $160.61 per share, with a total value of $256,976.00. Following the completion of the purchase, the chief executive officer directly owned 24,349 shares in the company, valued at $3,910,692.89. This trade represents a 7.03% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Matthew Willrath sold 325 shares of the company's stock in a transaction dated Wednesday, September 2nd. The stock was sold at an average price of $182.69, for a total transaction of $59,374.25. Following the sale, the chief accounting officer directly owned 2,130 shares of the company's stock, valued at $389,129.70. This represents a 13.24% decrease in their position. The SEC filing for this sale provides additional information. 0.70% of the stock is owned by insiders.

Hedge Funds Weigh In On Gulfport Energy

Several hedge funds and other institutional investors have recently made changes to their positions in GPOR. Tidal Investments LLC lifted its holdings in shares of Gulfport Energy by 47.9% during the 2nd quarter. Tidal Investments LLC now owns 9,762 shares of the company's stock worth $1,657,000 after acquiring an additional 3,160 shares during the period. Integrated Wealth Concepts LLC bought a new position in Gulfport Energy in the second quarter valued at approximately $59,000. Allworth Financial LP raised its position in Gulfport Energy by 159.3% during the second quarter. Allworth Financial LP now owns 350 shares of the company's stock valued at $59,000 after purchasing an additional 215 shares in the last quarter. AlphaGrep UK Ltd acquired a new position in Gulfport Energy during the second quarter valued at approximately $233,000. Finally, AXQ Capital LP bought a new stake in Gulfport Energy during the second quarter worth $325,000.

Gulfport Energy Company Profile

Gulfport Energy Corporation is an independent exploration and production company focused primarily on natural gas and natural gas liquids. The company develops and produces hydrocarbons from unconventional shale formations, with operations concentrated in the Appalachian Basin.

Gulfport's principal assets are located in eastern Ohio, where it holds acreage in the Utica and Marcellus shale plays. Its activities include leasing and developing mineral properties, drilling and completing horizontal wells, and producing and marketing natural gas, natural gas liquids and crude oil.

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