Goldentree Asset Management LP Takes Position in Gulfport Energy Corporation $GPOR

Goldentree Asset Management LP acquired a new position in Gulfport Energy Corporation (NYSE:GPOR) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 246,796 shares of the company’s stock, valued at approximately $44,665,000. Gulfport Energy comprises about 3.7% of Goldentree Asset Management LP’s holdings, making the stock its 8th largest holding. Goldentree Asset Management LP owned approximately 1.28% of Gulfport Energy as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the company. Vanguard Group Inc. lifted its position in Gulfport Energy by 6.8% during the third quarter. Vanguard Group Inc. now owns 1,078,379 shares of the company’s stock valued at $195,165,000 after acquiring an additional 68,664 shares during the last quarter. State Street Corp grew its holdings in Gulfport Energy by 1.8% in the second quarter. State Street Corp now owns 482,458 shares of the company’s stock worth $97,056,000 after purchasing an additional 8,668 shares during the last quarter. Millennium Management LLC increased its position in shares of Gulfport Energy by 1,281.6% during the third quarter. Millennium Management LLC now owns 426,034 shares of the company’s stock worth $77,104,000 after purchasing an additional 395,197 shares in the last quarter. Adage Capital Partners GP L.L.C. increased its position in shares of Gulfport Energy by 10.2% during the second quarter. Adage Capital Partners GP L.L.C. now owns 400,803 shares of the company’s stock worth $80,630,000 after purchasing an additional 36,953 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its holdings in shares of Gulfport Energy by 67.9% during the 3rd quarter. Victory Capital Management Inc. now owns 351,007 shares of the company’s stock valued at $63,525,000 after purchasing an additional 142,002 shares during the last quarter.

Gulfport Energy Price Performance

Shares of GPOR opened at $197.61 on Thursday. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.68 and a quick ratio of 0.68. The company’s fifty day moving average price is $196.97 and its 200-day moving average price is $194.65. Gulfport Energy Corporation has a 1-year low of $153.27 and a 1-year high of $225.78. The firm has a market capitalization of $3.67 billion, a PE ratio of 9.72 and a beta of 0.61.

Gulfport Energy (NYSE:GPOR) last issued its earnings results on Tuesday, February 24th. The company reported $5.60 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.61 by ($0.01). Gulfport Energy had a return on equity of 21.85% and a net margin of 30.01%.The firm had revenue of $398.19 million during the quarter, compared to analysts’ expectations of $373.24 million.

Insiders Place Their Bets

In related news, Director Timothy J. Cutt sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $208.73, for a total value of $1,043,650.00. Following the sale, the director owned 26,255 shares in the company, valued at $5,480,206.15. This represents a 16.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Michael Sluiter sold 9,933 shares of the company’s stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $210.00, for a total value of $2,085,930.00. Following the completion of the sale, the senior vice president owned 11,980 shares in the company, valued at approximately $2,515,800. This represents a 45.33% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 893,835 shares of company stock valued at $182,476,994. Insiders own 0.62% of the company’s stock.

Wall Street Analysts Forecast Growth

GPOR has been the subject of a number of recent analyst reports. UBS Group raised their price objective on Gulfport Energy from $264.00 to $267.00 and gave the stock a “buy” rating in a research report on Thursday, March 5th. Mizuho increased their price target on Gulfport Energy from $219.00 to $239.00 and gave the company a “neutral” rating in a research note on Friday, December 12th. TD Cowen raised Gulfport Energy to a “strong-buy” rating in a report on Monday, February 9th. Wall Street Zen lowered Gulfport Energy from a “buy” rating to a “hold” rating in a research note on Saturday, February 28th. Finally, Weiss Ratings upgraded shares of Gulfport Energy from a “hold (c)” rating to a “buy (b)” rating in a report on Monday, March 2nd. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $226.67.

About Gulfport Energy

Gulfport Energy Corporation is an independent oil and gas exploration and production company based in Oklahoma City, Oklahoma. The company focuses on the development of onshore natural gas, natural gas liquids (NGLs) and crude oil properties in the United States. Gulfport utilizes horizontal drilling and multi-stage hydraulic fracturing techniques to maximize production and enhance recovery from its resource plays.

The company’s primary operations are concentrated in two major U.S. resource basins.