Gulfport Energy (NYSE:GPOR) Shares Down 5% – What’s Next?

Gulfport Energy Corporation (NYSE:GPOR)’s share price was down 5% on Wednesday . The stock traded as low as $166.76 and last traded at $167.0770. 71,507 shares changed hands during trading, a decline of 79% from the average session volume of 343,661 shares. The stock had previously closed at $175.95.

Analysts Set New Price Targets

Several brokerages have commented on GPOR. Weiss Ratings downgraded shares of Gulfport Energy from a “hold (c+)” rating to a “hold (c)” rating in a research note on Friday, August 21st. UBS Group reissued a “buy” rating and set a $223.00 price target on shares of Gulfport Energy in a research report on Monday. JPMorgan Chase & Co. reissued an “underweight” rating and issued a $194.00 price target (down from $240.00) on shares of Gulfport Energy in a report on Tuesday, September 8th. Zacks Research raised shares of Gulfport Energy from a “strong sell” rating to a “hold” rating in a report on Tuesday, September 8th. Finally, Stifel Nicolaus assumed coverage on shares of Gulfport Energy in a research report on Wednesday, September 9th. They issued a “hold” rating and a $193.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Gulfport Energy has a consensus rating of “Hold” and an average price target of $217.50.

Gulfport Energy Price Performance

The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.58 and a current ratio of 0.58. The company has a 50-day moving average of $166.41 and a 200-day moving average of $178.56. The firm has a market capitalization of $2.85 billion, a price-to-earnings ratio of 6.45 and a beta of 0.43.

Gulfport Energy (NYSE:GPOR) last announced its earnings results on Monday, August 3rd. The company reported $4.85 EPS for the quarter, topping the consensus estimate of $3.82 by $1.03. The firm had revenue of $323.23 million for the quarter. Gulfport Energy had a net margin of 32.28% and a return on equity of 21.87%. As a group, research analysts anticipate that Gulfport Energy Corporation will post 22.25 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Domenic J. Dell’osso, Jr. bought 1,600 shares of Gulfport Energy stock in a transaction that occurred on Friday, August 7th. The stock was purchased at an average cost of $160.61 per share, with a total value of $256,976.00. Following the purchase, the chief executive officer owned 24,349 shares in the company, valued at approximately $3,910,692.89. This trade represents a 7.03% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Matthew Willrath sold 325 shares of the stock in a transaction dated Wednesday, September 2nd. The stock was sold at an average price of $182.69, for a total value of $59,374.25. Following 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 position. The disclosure for this sale is available in the SEC filing. Company insiders own 0.70% of the company’s stock.

Institutional Trading of Gulfport Energy

Hedge funds and other institutional investors have recently modified their holdings of the company. Keybank National Association OH lifted its position in Gulfport Energy by 1.2% during the first quarter. Keybank National Association OH now owns 5,881 shares of the company’s stock worth $1,244,000 after acquiring an additional 67 shares during the last quarter. Central Pacific Bank Trust Division boosted its holdings in shares of Gulfport Energy by 9.3% during the second quarter. Central Pacific Bank Trust Division now owns 940 shares of the company’s stock worth $160,000 after acquiring an additional 80 shares during the period. Allworth Financial LP grew its position in shares of Gulfport Energy by 113.3% in the fourth quarter. Allworth Financial LP now owns 160 shares of the company’s stock valued at $33,000 after purchasing an additional 85 shares during the last quarter. King Luther Capital Management Corp grew its position in shares of Gulfport Energy by 0.4% in the fourth quarter. King Luther Capital Management Corp now owns 23,535 shares of the company’s stock valued at $4,895,000 after purchasing an additional 102 shares during the last quarter. Finally, EverSource Wealth Advisors LLC increased its stake in shares of Gulfport Energy by 58.5% during the fourth quarter. EverSource Wealth Advisors LLC now owns 325 shares of the company’s stock worth $68,000 after purchasing an additional 120 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.