Q4 2017 EPS Estimates for Gulfport Energy Co. (GPOR) Boosted by Analyst
Gulfport Energy Co. (NASDAQ:GPOR) – Investment analysts at Seaport Global Securities increased their Q4 2017 earnings estimates for shares of Gulfport Energy in a report released on Monday. Seaport Global Securities analyst M. Kelly now expects that the oil and gas producer will earn $0.31 per share for the quarter, up from their prior forecast of $0.30.
Several other analysts have also issued reports on the company. B. Riley assumed coverage on Gulfport Energy in a research note on Monday. They issued a “neutral” rating and a $11.25 target price for the company. BidaskClub lowered Gulfport Energy from a “hold” rating to a “sell” rating in a research note on Friday, February 2nd. ValuEngine lowered Gulfport Energy from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. Zacks Investment Research lowered Gulfport Energy from a “hold” rating to a “sell” rating in a research note on Thursday, February 1st. Finally, Wells Fargo & Co cut their target price on Gulfport Energy from $20.00 to $18.00 and set an “outperform” rating for the company in a research note on Wednesday, January 31st. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and sixteen have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $19.71.
Large investors have recently added to or reduced their stakes in the company. State of Alaska Department of Revenue purchased a new stake in shares of Gulfport Energy during the fourth quarter valued at approximately $137,000. BKS Advisors LLC purchased a new stake in shares of Gulfport Energy during the third quarter valued at approximately $161,000. Oakbrook Investments LLC bought a new position in shares of Gulfport Energy during the fourth quarter valued at approximately $180,000. Cubist Systematic Strategies LLC raised its holdings in shares of Gulfport Energy by 28,700.0% during the second quarter. Cubist Systematic Strategies LLC now owns 14,400 shares of the oil and gas producer’s stock valued at $212,000 after acquiring an additional 14,350 shares in the last quarter. Finally, M&T Bank Corp bought a new position in shares of Gulfport Energy during the second quarter valued at approximately $216,000. 85.18% of the stock is owned by hedge funds and other institutional investors.
In other news, CFO Keri Crowell sold 16,000 shares of the stock in a transaction that occurred on Friday, December 15th. The stock was sold at an average price of $12.16, for a total transaction of $194,560.00. Following the completion of the sale, the chief financial officer now owns 81,092 shares of the company’s stock, valued at $986,078.72. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Michael G. Moore sold 118,494 shares of the stock in a transaction that occurred on Friday, December 15th. The shares were sold at an average price of $12.16, for a total value of $1,440,887.04. Following the sale, the chief executive officer now directly owns 295,449 shares of the company’s stock, valued at approximately $3,592,659.84. The disclosure for this sale can be found here. In the last three months, insiders have sold 151,253 shares of company stock valued at $1,839,219. Insiders own 0.21% of the company’s stock.
Gulfport Energy declared that its Board of Directors has approved a share repurchase plan on Monday, January 29th that allows the company to buyback $100.00 million in shares. This buyback authorization allows the oil and gas producer to buy shares of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.
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Gulfport Energy Company Profile
Gulfport Energy Corporation is an oil and natural gas exploration and production company. The Company focuses on the exploitation and acquisition of natural gas, natural gas liquids and crude oil in the United States. The Company’s properties are located in the Utica Shale in Eastern Ohio and along the Louisiana Gulf Coast in the West Cote Blanche Bay (WCBB) and Hackberry fields.
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