Gulfport Energy (NYSE:GPOR) Trading 6.9% Higher After Analyst Upgrade

Gulfport Energy Corporation (NYSE:GPOR)’s stock price shot up 6.9% during trading on Thursday after Bank of America raised their price target on the stock from $215.00 to $237.00. Bank of America currently has a buy rating on the stock. Gulfport Energy traded as high as $209.85 and last traded at $210.91. 48,400 shares traded hands during mid-day trading, a decline of 85% from the average session volume of 332,772 shares. The stock had previously closed at $197.38.

A number of other equities research analysts have also issued reports on the stock. Tudor Pickering lowered shares of Gulfport Energy from a “strong-buy” rating to a “hold” rating in a report on Monday, December 1st. Wall Street Zen downgraded shares of Gulfport Energy from a “buy” rating to a “hold” rating in a report on Saturday, February 28th. Zacks Research upgraded shares of Gulfport Energy from a “strong sell” rating to a “hold” rating in a research report on Wednesday, January 7th. TD Cowen raised shares of Gulfport Energy to a “strong-buy” rating in a research note on Monday, February 9th. Finally, Mizuho lifted their price target on shares of Gulfport Energy from $219.00 to $239.00 and gave the company a “neutral” rating in a report on Friday, December 12th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $228.78.

Insider Transactions at Gulfport Energy

In related news, SVP Michael Sluiter sold 9,933 shares of Gulfport Energy stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $210.00, for a total value of $2,085,930.00. Following the completion of the transaction, the senior vice president owned 11,980 shares in the company, valued at approximately $2,515,800. This trade represents a 45.33% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Michael L. Hodges sold 16,769 shares of the business’s stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $210.70, for a total value of $3,533,228.30. Following the sale, the chief financial officer directly owned 18,473 shares in the company, valued at $3,892,261.10. The trade was a 47.58% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 893,835 shares of company stock worth $182,476,994. 0.62% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Gulfport Energy

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Advisory Services Network LLC purchased a new stake in Gulfport Energy in the third quarter worth $28,000. Financial Consulate Inc. purchased a new stake in shares of Gulfport Energy during the third quarter valued at $31,000. Allworth Financial LP grew its holdings in shares of Gulfport Energy by 113.3% in the fourth quarter. Allworth Financial LP now owns 160 shares of the company’s stock worth $33,000 after purchasing an additional 85 shares during the last quarter. Federated Hermes Inc. grew its holdings in shares of Gulfport Energy by 133.7% in the third quarter. Federated Hermes Inc. now owns 222 shares of the company’s stock worth $40,000 after purchasing an additional 127 shares during the last quarter. Finally, EverSource Wealth Advisors LLC increased its stake in Gulfport Energy by 364.8% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 251 shares of the company’s stock worth $50,000 after buying an additional 197 shares during the period.

Gulfport Energy Stock Up 0.6%

The company’s 50 day moving average is $198.08 and its 200 day moving average is $194.93. The company has a market cap of $3.81 billion, a PE ratio of 10.09 and a beta of 0.61. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 0.43.

Gulfport Energy (NYSE:GPOR) last released its quarterly earnings data on Tuesday, February 24th. The company reported $5.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.61 by ($0.01). The company had revenue of $398.19 million during the quarter, compared to analysts’ expectations of $373.24 million. Gulfport Energy had a net margin of 30.01% and a return on equity of 21.85%.

About Gulfport Energy

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.