Gulfport Energy Co. (NASDAQ:GPOR) – Equities researchers at Imperial Capital reduced their Q3 2019 earnings per share (EPS) estimates for shares of Gulfport Energy in a research note issued on Friday, October 18th. Imperial Capital analyst J. Wangler now forecasts that the oil and gas producer will post earnings per share of $0.20 for the quarter, down from their previous estimate of $0.21. Imperial Capital has a “Outperform” rating and a $5.00 price target on the stock. Imperial Capital also issued estimates for Gulfport Energy’s Q4 2019 earnings at $0.21 EPS and FY2019 earnings at $0.95 EPS.
A number of other equities analysts also recently weighed in on GPOR. Piper Jaffray Companies set a $7.00 price target on shares of Gulfport Energy and gave the stock a “buy” rating in a report on Friday, August 16th. Credit Suisse Group downgraded shares of Gulfport Energy from a “neutral” rating to an “underperform” rating in a report on Tuesday, July 9th. Jefferies Financial Group downgraded shares of Gulfport Energy from a “buy” rating to a “hold” rating and cut their price target for the stock from $11.00 to $5.00 in a report on Monday, July 15th. ValuEngine raised shares of Gulfport Energy from a “strong sell” rating to a “sell” rating in a report on Wednesday, October 2nd. Finally, Wells Fargo & Co boosted their price target on shares of Gulfport Energy from $5.00 to $6.00 and gave the stock a “market perform” rating in a report on Friday, September 20th. Four investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have issued a buy rating to the company. Gulfport Energy presently has an average rating of “Hold” and a consensus target price of $8.47.
Gulfport Energy (NASDAQ:GPOR) last issued its quarterly earnings results on Thursday, August 1st. The oil and gas producer reported $0.21 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.20 by $0.01. The company had revenue of $459.00 million for the quarter, compared to the consensus estimate of $312.43 million. Gulfport Energy had a net margin of 33.82% and a return on equity of 7.34%. The firm’s quarterly revenue was up 81.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.33 EPS.
In other news, CFO Quentin R. Hicks acquired 15,000 shares of the stock in a transaction that occurred on Friday, August 30th. The shares were acquired at an average cost of $2.38 per share, for a total transaction of $35,700.00. Following the purchase, the chief financial officer now owns 15,000 shares of the company’s stock, valued at approximately $35,700. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO David M. Wood acquired 40,000 shares of the stock in a transaction that occurred on Friday, August 30th. The stock was purchased at an average price of $2.44 per share, for a total transaction of $97,600.00. Following the completion of the purchase, the chief executive officer now directly owns 1,005,449 shares in the company, valued at approximately $2,453,295.56. The disclosure for this purchase can be found here. Insiders own 0.45% of the company’s stock.
Institutional investors have recently made changes to their positions in the stock. Coastal Capital Group Inc. bought a new stake in shares of Gulfport Energy during the second quarter valued at about $34,000. KBC Group NV increased its position in shares of Gulfport Energy by 818.9% during the second quarter. KBC Group NV now owns 715,770 shares of the oil and gas producer’s stock valued at $3,514,000 after buying an additional 637,876 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Gulfport Energy by 170.7% during the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 209,225 shares of the oil and gas producer’s stock valued at $1,027,000 after buying an additional 131,925 shares during the period. JPMorgan Chase & Co. increased its position in shares of Gulfport Energy by 135.3% during the second quarter. JPMorgan Chase & Co. now owns 6,365,656 shares of the oil and gas producer’s stock valued at $31,000,000 after buying an additional 3,660,115 shares during the period. Finally, Carlson Capital L P bought a new stake in shares of Gulfport Energy during the second quarter valued at about $2,952,000. Institutional investors and hedge funds own 97.52% of the company’s stock.
About Gulfport Energy
Gulfport Energy Corporation engages in the acquisition, exploration, exploitation, and production of natural gas, crude oil, and natural gas liquids (NGLs) in North America. Its principal properties include Utica Shale covering an area of approximately 241,000 gross acres primarily in Eastern Ohio; and SCOOP that comprise leasehold interests in approximately 66,000 gross surface acres located in Oklahoma.
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