Gulfport Energy Corp. (GPOR) Sees Large Volume Increase
Gulfport Energy Corp. (NASDAQ:GPOR) saw unusually-high trading volume on Friday . Approximately 3,270,897 shares traded hands during mid-day trading, an increase of 64% from the previous session’s volume of 1,991,171 shares.The stock last traded at $30.47 and had previously closed at $31.51.
GPOR has been the subject of several research analyst reports. Simmons reiterated an “overweight” rating and issued a $40.00 price objective on shares of Gulfport Energy Corp. in a report on Thursday, March 31st. Howard Weil increased their price objective on Gulfport Energy Corp. from $33.00 to $34.00 and gave the stock a “sector outperform” rating in a report on Friday, May 6th. Piper Jaffray Cos. initiated coverage on Gulfport Energy Corp. in a report on Friday, July 8th. They issued an “overweight” rating and a $40.00 price objective for the company. Scotiabank reiterated a “sector outperform” rating and issued a $34.00 price objective (up previously from $33.00) on shares of Gulfport Energy Corp. in a report on Saturday, May 7th. Finally, Zacks Investment Research cut Gulfport Energy Corp. from a “buy” rating to a “hold” rating in a research note on Wednesday, April 20th. Eight analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Buy” and an average target price of $38.35.
The firm’s 50-day moving average is $31.71 and its 200-day moving average is $28.48. The company’s market cap is $3.81 billion.
Gulfport Energy Corp. (NASDAQ:GPOR) last posted its earnings results on Wednesday, May 4th. The company reported $0.14 EPS for the quarter, beating the Zacks’ consensus estimate of $0.09 by $0.05. The business had revenue of $156.96 million for the quarter, compared to analyst estimates of $161.76 million. During the same quarter last year, the business earned ($0.08) earnings per share. Gulfport Energy Corp.’s revenue was down 11.0% on a year-over-year basis. Analysts anticipate that Gulfport Energy Corp. will post $0.39 EPS for the current fiscal year.
In other news, CEO Michael G. Moore sold 20,000 shares of the firm’s stock in a transaction dated Wednesday, June 15th. The stock was sold at an average price of $32.95, for a total transaction of $659,000.00. Following the sale, the chief executive officer now directly owns 226,175 shares in the company, valued at approximately $7,452,466.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Stuart Maier sold 10,000 shares of the firm’s stock in a transaction dated Monday, June 20th. The shares were sold at an average price of $33.35, for a total value of $333,500.00. Following the sale, the vice president now owns 20,366 shares in the company, valued at $679,206.10. The disclosure for this sale can be found here.
Other large investors have bought and sold shares of the company. I.G. Investment Management LTD. boosted its stake in Gulfport Energy Corp. by 0.7% in the fourth quarter. I.G. Investment Management LTD. now owns 77,720 shares of the company’s stock worth $1,910,000 after buying an additional 545 shares during the period. Swiss National Bank raised its position in shares of Gulfport Energy Corp. by 0.6% in the fourth quarter. Swiss National Bank now owns 140,858 shares of the company’s stock worth $3,461,000 after buying an additional 800 shares in the last quarter. Comerica Bank raised its position in shares of Gulfport Energy Corp. by 1.4% in the fourth quarter. Comerica Bank now owns 80,971 shares of the company’s stock worth $1,940,000 after buying an additional 1,104 shares in the last quarter. Russell Frank Co raised its position in shares of Gulfport Energy Corp. by 0.5% in the fourth quarter. Russell Frank Co now owns 228,958 shares of the company’s stock worth $5,284,000 after buying an additional 1,250 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System raised its position in shares of Gulfport Energy Corp. by 2.2% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 126,315 shares of the company’s stock worth $3,104,000 after buying an additional 2,751 shares in the last quarter.
Gulfport Energy Corporation (Gulfport) is an independent oil and natural gas exploration and production company focused on the exploration, exploitation, acquisition and production of natural gas, natural gas liquids and crude oil in the United States. The Company has an oil and natural gas portfolio of proved reserves, as well as development and exploratory drilling opportunities on conventional and unconventional oil and natural gas prospects.
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