Gulfport Energy (NYSE:GPOR) Shares Break Above 50 Day Moving Average – Here’s What Happened

Gulfport Energy Corporation (NYSE:GPOR)’s stock price crossed above its fifty day moving average during trading on Tuesday. The stock has a fifty day moving average of $166.88 and traded as high as $169.51. Gulfport Energy shares last traded at $169.3730, with a volume of 297,701 shares traded.

Analyst Upgrades and Downgrades

GPOR has been the subject of several research reports. Scotiabank initiated coverage on shares of Gulfport Energy in a research report on Wednesday, October 14th. They issued a “sector outperform” rating and a $217.00 price target for the company. JPMorgan Chase & Co. restated an “underweight” rating and set a $194.00 price target (down from $240.00) on shares of Gulfport Energy in a research note on Tuesday, September 8th. Truist Financial lowered their price objective on shares of Gulfport Energy from $190.00 to $186.00 and set a “hold” rating on the stock in a report on Wednesday, August 5th. Weiss Ratings lowered shares of Gulfport Energy from a “hold (c+)” rating to a “hold (c)” rating in a research note on Friday, August 21st. Finally, Pickering Energy Partners assumed coverage on shares of Gulfport Energy in a research note on Tuesday, September 22nd. They issued an “outperform” rating on the stock. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Gulfport Energy has an average rating of “Hold” and an average target price of $210.20.

Gulfport Energy Stock Performance

The business has a 50 day simple moving average of $166.88 and a 200-day simple moving average of $178.99.

Gulfport Energy (NYSE:GPOR) last issued its quarterly earnings data on Monday, August 3rd. The company reported $4.85 EPS for the quarter, topping the consensus estimate of $3.82 by $1.03. The company had revenue of $323.23 million during the quarter. Equities research analysts expect that Gulfport Energy Corporation will post 22.01 earnings per share for the current fiscal year.

Insider Activity at Gulfport Energy

In related news, CEO Domenic Dell’osso, Jr. bought 1,600 shares of the business’s stock in a transaction that occurred on Friday, August 7th. The shares were bought at an average price of $160.61 per share, with a total value of $256,976.00. Following the completion of the transaction, the chief executive officer directly owned 24,349 shares in the company, valued at approximately $3,910,692.89. This represents a 7.03% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Timothy Cutt sold 2,500 shares of the stock in a transaction on Thursday, September 24th. The shares were sold at an average price of $158.98, for a total value of $397,450.00. Following the completion of the sale, the director directly owned 27,013 shares of the company’s stock, valued at $4,294,526.74. The trade was a 8.47% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.70% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in GPOR. BOKF NA increased its position in shares of Gulfport Energy by 11.4% during the 3rd quarter. BOKF NA now owns 2,427 shares of the company’s stock valued at $365,000 after purchasing an additional 248 shares during the last quarter. Pinnacle Wealth Planning Services Inc. boosted its holdings in shares of Gulfport Energy by 802.8% in the 3rd quarter. Pinnacle Wealth Planning Services Inc. now owns 325 shares of the company’s stock worth $49,000 after buying an additional 289 shares during the last quarter. Miller Howard Investments Inc. NY boosted its holdings in shares of Gulfport Energy by 1.8% in the 3rd quarter. Miller Howard Investments Inc. NY now owns 21,636 shares of the company’s stock worth $3,256,000 after buying an additional 374 shares during the last quarter. Signaturefd LLC boosted its holdings in shares of Gulfport Energy by 214.3% in the 3rd quarter. Signaturefd LLC now owns 682 shares of the company’s stock worth $103,000 after buying an additional 465 shares during the last quarter. Finally, Sterling Capital Management LLC grew its position in Gulfport Energy by 7.8% during the third quarter. Sterling Capital Management LLC now owns 3,669 shares of the company’s stock valued at $552,000 after buying an additional 265 shares during the period.

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.