Pinnacle Associates Ltd. Acquires 8,449 Shares of Gulfport Energy Corporation $GPOR

Pinnacle Associates Ltd. acquired a new stake in Gulfport Energy Corporation (NYSE:GPOR) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 8,449 shares of the company’s stock, valued at approximately $1,271,000.

A number of other large investors have also made changes to their positions in GPOR. Renaissance Technologies LLC increased its position in Gulfport Energy by 582.6% during the 1st quarter. Renaissance Technologies LLC now owns 137,200 shares of the company’s stock worth $29,027,000 after purchasing an additional 117,100 shares in the last quarter. Bank of America Corp DE raised its stake in Gulfport Energy by 50.3% in the 1st quarter. Bank of America Corp DE now owns 152,201 shares of the company’s stock valued at $32,201,000 after purchasing an additional 50,968 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its stake in Gulfport Energy by 12.9% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 398,931 shares of the company’s stock valued at $84,402,000 after purchasing an additional 45,682 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in Gulfport Energy by 5.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 630,099 shares of the company’s stock valued at $133,317,000 after purchasing an additional 34,486 shares in the last quarter. Finally, First Trust Advisors LP lifted its holdings in Gulfport Energy by 74.2% in the 1st quarter. First Trust Advisors LP now owns 78,951 shares of the company’s stock valued at $16,704,000 after purchasing an additional 33,618 shares in the last quarter.

Insider Buying and Selling at Gulfport Energy

In other Gulfport Energy news, CAO Matthew Willrath sold 325 shares of Gulfport Energy 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 completion of the sale, the chief accounting officer owned 2,130 shares in the company, valued at $389,129.70. The trade was a 13.24% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Domenic Dell’osso, Jr. acquired 1,600 shares of the company’s stock in a transaction dated Friday, August 7th. The shares were bought 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. The trade was a 7.03% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 0.70% of the stock is owned by company insiders.

Gulfport Energy Price Performance

Shares of NYSE:GPOR opened at $166.14 on Friday. The company has a market cap of $2.94 billion, a P/E ratio of 6.65 and a beta of 0.56. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 0.51. Gulfport Energy Corporation has a 52 week low of $149.18 and a 52 week high of $225.78. The business has a fifty day simple moving average of $167.15 and a 200-day simple moving average of $170.44.

Gulfport Energy (NYSE:GPOR) last released its earnings results on Monday, August 3rd. The company reported $4.85 earnings per share for the quarter, topping the consensus estimate of $3.82 by $1.03. Gulfport Energy had a return on equity of 21.87% and a net margin of 32.28%. The firm had revenue of $323.23 million for the quarter. Equities research analysts forecast that Gulfport Energy Corporation will post 22.01 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. UBS Group decreased their price target on shares of Gulfport Energy from $223.00 to $218.00 and set a “buy” rating on the stock in a research note on Tuesday, October 6th. Jefferies Financial Group lowered shares of Gulfport Energy from a “buy” rating to a “hold” rating and cut their price objective for the company from $239.00 to $180.00 in a research report on Friday, September 25th. Truist Financial reduced their price objective on shares of Gulfport Energy from $190.00 to $186.00 and set a “hold” rating on the stock in a research note on Wednesday, August 5th. Pickering Energy Partners started coverage on shares of Gulfport Energy in a research note on Tuesday, September 22nd. They set an “outperform” rating on the stock. Finally, JPMorgan Chase & Co. restated an “underweight” rating and set a $194.00 target price (down from $240.00) on shares of Gulfport Energy in a research report on Tuesday, September 8th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, eight have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Gulfport Energy presently has a consensus rating of “Hold” and a consensus price target of $210.20.

Gulfport Energy Company Profile

Gulfport Energy Corporation is an independent exploration and production company focused on developing natural gas and associated natural gas liquids. The company’s operations are concentrated primarily in the Utica Shale in eastern Ohio, where it drills, completes and produces unconventional oil and gas wells.

Gulfport’s product mix includes natural gas, natural gas liquids and condensate. Its activities include leasing and managing mineral acreage, operating horizontal wells and coordinating gathering, processing and transportation arrangements needed to deliver production to market.

Founded in 1997, Gulfport historically operated in several U.S.