Gulfport Energy (NASDAQ:GPOR) Shares Gap Down to $2.74

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Shares of Gulfport Energy Co. (NASDAQ:GPOR) gapped down before the market opened on Wednesday . The stock had previously closed at $2.81, but opened at $2.74. Gulfport Energy shares last traded at $2.67, with a volume of 2,471,969 shares changing hands.

GPOR has been the topic of several recent research reports. SunTrust Banks downgraded shares of Gulfport Energy from a “buy” rating to a “hold” rating and decreased their price target for the stock from $6.00 to $3.00 in a research report on Friday, November 15th. BidaskClub raised shares of Gulfport Energy from a “strong sell” rating to a “sell” rating in a research report on Wednesday. Zacks Investment Research lowered Gulfport Energy from a “hold” rating to a “sell” rating and set a $3.00 price objective for the company. in a research note on Tuesday, December 3rd. Wells Fargo & Co upped their price objective on Gulfport Energy from $5.00 to $6.00 and gave the stock a “market perform” rating in a research note on Friday, September 20th. Finally, Imperial Capital decreased their target price on Gulfport Energy from $11.00 to $5.00 and set an “outperform” rating on the stock in a report on Friday, October 18th. Five research analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have assigned a buy rating to the stock. Gulfport Energy has an average rating of “Hold” and a consensus price target of $6.40.

The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 0.61. The firm has a market cap of $440.07 million, a PE ratio of 1.46, a P/E/G ratio of 0.14 and a beta of 0.86. The firm’s fifty day simple moving average is $2.87 and its two-hundred day simple moving average is $3.50.

Gulfport Energy (NASDAQ:GPOR) last posted its quarterly earnings results on Thursday, October 31st. The oil and gas producer reported $0.24 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.22 by $0.02. The business had revenue of $285.18 million during the quarter, compared to analyst estimates of $335.10 million. Gulfport Energy had a net margin of 25.83% and a return on equity of 5.88%. The company’s revenue was down 21.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.49 earnings per share. As a group, analysts anticipate that Gulfport Energy Co. will post 0.96 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in GPOR. Cetera Advisor Networks LLC bought a new position in Gulfport Energy in the 3rd quarter worth $29,000. Coastal Capital Group Inc. bought a new stake in Gulfport Energy during the second quarter valued at about $34,000. Meeder Asset Management Inc. raised its holdings in Gulfport Energy by 474.1% during the third quarter. Meeder Asset Management Inc. now owns 13,060 shares of the oil and gas producer’s stock valued at $34,000 after acquiring an additional 10,785 shares during the period. Virginia Retirement Systems ET AL bought a new stake in Gulfport Energy during the third quarter valued at about $38,000. Finally, Enterprise Bank & Trust Co purchased a new position in shares of Gulfport Energy in the third quarter valued at about $41,000. Institutional investors own 94.56% of the company’s stock.

About Gulfport Energy (NASDAQ:GPOR)

Gulfport Energy Corporation engages in the acquisition, exploration, exploitation, and production of natural gas, crude oil, and natural gas liquids (NGLs) in North America. Its principal properties include Utica Shale covering an area of approximately 241,000 gross acres primarily in Eastern Ohio; and SCOOP that comprise leasehold interests in approximately 66,000 gross surface acres located in Oklahoma.

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