Gulfport Energy (NYSE:GPOR) Upgraded by TD Cowen to Strong-Buy Rating

TD Cowen upgraded shares of Gulfport Energy (NYSE:GPOR) to a strong-buy rating in a research report released on Monday morning,Zacks.com reports.

A number of other research analysts have also recently weighed in on GPOR. Evercore lifted their price objective on Gulfport Energy from $190.00 to $210.00 and gave the company an “in-line” rating in a research report on Monday, November 10th. Zacks Research upgraded shares of Gulfport Energy from a “strong sell” rating to a “hold” rating in a research note on Wednesday, January 7th. Jefferies Financial Group initiated coverage on shares of Gulfport Energy in a research report on Thursday, October 23rd. They issued a “buy” rating and a $250.00 price target for the company. Weiss Ratings restated a “hold (c-)” rating on shares of Gulfport Energy in a research report on Monday, December 29th. Finally, Wolfe Research cut shares of Gulfport Energy from an “outperform” rating to a “peer perform” rating in a research note on Monday, January 5th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $230.88.

Gulfport Energy Stock Performance

NYSE GPOR traded down $0.94 on Monday, hitting $206.30. 17,277 shares of the company traded hands, compared to its average volume of 274,550. The company has a market capitalization of $3.99 billion, a price-to-earnings ratio of -108.58 and a beta of 0.61. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 0.39. The business’s 50 day moving average price is $199.21 and its 200-day moving average price is $188.70. Gulfport Energy has a 52-week low of $153.27 and a 52-week high of $225.78.

Insider Activity at Gulfport Energy

In other Gulfport Energy news, Director Timothy J. Cutt sold 2,500 shares of the stock in a transaction dated Tuesday, December 30th. The shares were sold at an average price of $214.74, for a total transaction of $536,850.00. Following the completion of the transaction, the director owned 31,255 shares of the company’s stock, valued at $6,711,698.70. This represents a 7.41% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Matthew Rucker sold 10,732 shares of Gulfport Energy stock in a transaction dated Tuesday, January 6th. The stock was sold at an average price of $186.61, for a total value of $2,002,698.52. Following the completion of the sale, the chief operating officer directly owned 12,893 shares in the company, valued at $2,405,962.73. This trade represents a 45.43% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 308,012 shares of company stock worth $67,100,732 in the last three months. Insiders own 0.33% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its stake in shares of Gulfport Energy by 6.8% in the 3rd quarter. Vanguard Group Inc. now owns 1,078,379 shares of the company’s stock valued at $195,165,000 after purchasing an additional 68,664 shares during the last quarter. Jennison Associates LLC increased its position in shares of Gulfport Energy by 14.2% during the 4th quarter. Jennison Associates LLC now owns 671,483 shares of the company’s stock valued at $139,662,000 after purchasing an additional 83,613 shares during the last quarter. State Street Corp increased its position in shares of Gulfport Energy by 1.8% during the 2nd quarter. State Street Corp now owns 482,458 shares of the company’s stock valued at $97,056,000 after purchasing an additional 8,668 shares during the last quarter. Millennium Management LLC raised its holdings in Gulfport Energy by 1,281.6% during the 3rd quarter. Millennium Management LLC now owns 426,034 shares of the company’s stock valued at $77,104,000 after buying an additional 395,197 shares during the period. Finally, Adage Capital Partners GP L.L.C. lifted its position in Gulfport Energy by 10.2% in 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 buying an additional 36,953 shares during the last quarter.

Gulfport Energy Company Profile

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.