Gulfport Energy (NYSE:GPOR) Shares Gap Down – Here’s What Happened

Gulfport Energy Corporation (NYSE:GPOR) shares 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.

Analyst Ratings Changes

Several brokerages recently weighed in on GPOR. Weiss Ratings downgraded Gulfport Energy from a “hold (c+)” rating to a “hold (c)” rating in a research report on Friday, August 21st. Zacks Research raised Gulfport Energy from a “strong sell” rating to a “hold” rating in a research note on Tuesday, September 8th. Jefferies Financial Group cut shares of 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. JPMorgan Chase & Co. restated an “underweight” rating and issued a $194.00 price target (down from $240.00) on shares of Gulfport Energy in a research note on Tuesday, September 8th. Finally, UBS Group reaffirmed a “buy” rating and set a $223.00 price target on shares of Gulfport Energy in a report on Monday, September 14th. One investment 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 assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $210.50.

Gulfport Energy Price Performance

The company has a 50 day moving average price of $167.03 and a 200-day moving average price of $176.76. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 0.51. The company 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) last issued its quarterly earnings data on Monday, August 3rd. The company reported $4.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.82 by $1.03. Gulfport Energy had a net margin of 32.28% and a return on equity of 21.87%. The business had revenue of $323.23 million during the quarter. As a group, equities research analysts predict that Gulfport Energy Corporation will post 22.25 EPS for the current fiscal year.

Insider Activity at Gulfport Energy

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

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Allworth Financial LP grew its position in shares of Gulfport Energy by 113.3% in the 4th quarter. Allworth Financial LP now owns 160 shares of the company’s stock valued at $33,000 after buying an additional 85 shares during the last quarter. Pinnacle Holdings LLC bought a new position in shares of Gulfport Energy during the second quarter worth about $49,000. Integrated Wealth Concepts LLC bought a new position in shares of Gulfport Energy during the second quarter worth about $59,000. EverSource Wealth Advisors LLC lifted its stake in shares of Gulfport Energy by 58.5% in the fourth quarter. EverSource Wealth Advisors LLC now owns 325 shares of the company’s stock worth $68,000 after acquiring an additional 120 shares during the period. Finally, Caitong International Asset Management Co. Ltd lifted its stake in shares of Gulfport Energy by 866.7% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 406 shares of the company’s stock worth $84,000 after acquiring an additional 364 shares during the period.

About Gulfport Energy

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.