Gulfport Energy Corporation (GPOR) Upgraded by Zacks Investment Research to “Buy”

Zacks Investment Research upgraded shares of Gulfport Energy Corporation (NASDAQ:GPOR) from a hold rating to a buy rating in a research report released on Wednesday morning. The brokerage currently has $16.00 target price on the oil and gas producer’s stock.

According to Zacks, “Gulfport Energy owns and operates mature oil and gas properties in the Louisiana Gulf Coast area. The company seeks to achieve reserve growth and increased cash flow from operations through low risk development activities on its existing properties and acquiring additional Louisiana Gulf Coast properties with exploitation and exploration potential. “

Several other research firms have also recently issued reports on GPOR. Scotiabank reissued a buy rating and issued a $23.00 price objective on shares of Gulfport Energy Corporation in a research report on Friday, June 30th. Mizuho reissued a buy rating and issued a $23.00 price objective on shares of Gulfport Energy Corporation in a research report on Wednesday, October 4th. BidaskClub raised shares of Gulfport Energy Corporation from a strong sell rating to a sell rating in a research report on Wednesday, June 14th. J P Morgan Chase & Co cut shares of Gulfport Energy Corporation from an overweight rating to a neutral rating and lowered their price objective for the company from $22.00 to $17.00 in a research report on Thursday, July 20th. Finally, Williams Capital set a $21.00 price objective on shares of Gulfport Energy Corporation and gave the company a buy rating in a research report on Monday, July 31st. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and twenty-one have given a buy rating to the stock. The company currently has an average rating of Buy and a consensus target price of $23.73.

Shares of Gulfport Energy Corporation (GPOR) traded down 0.95% during trading on Wednesday, hitting $14.56. 2,414,104 shares of the stock traded hands. The stock’s market cap is $2.66 billion. The firm’s 50-day moving average price is $13.49 and its 200-day moving average price is $14.27. Gulfport Energy Corporation has a 12 month low of $10.90 and a 12 month high of $30.47.

Gulfport Energy Corporation (NASDAQ:GPOR) last released its quarterly earnings results on Tuesday, August 8th. The oil and gas producer reported $0.33 EPS for the quarter, topping analysts’ consensus estimates of $0.25 by $0.08. Gulfport Energy Corporation had a negative net margin of 15.02% and a positive return on equity of 7.42%. The firm had revenue of $323.90 million during the quarter, compared to analysts’ expectations of $279.59 million. During the same period in the previous year, the company earned $0.24 EPS. The firm’s revenue for the quarter was up 1052.7% compared to the same quarter last year. Analysts anticipate that Gulfport Energy Corporation will post $1.40 EPS for the current year.

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Hedge funds and other institutional investors have recently bought and sold shares of the stock. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Gulfport Energy Corporation by 11.8% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,756 shares of the oil and gas producer’s stock worth $100,000 after acquiring an additional 712 shares in the last quarter. Riverhead Capital Management LLC raised its stake in shares of Gulfport Energy Corporation by 76.9% during the 2nd quarter. Riverhead Capital Management LLC now owns 9,553 shares of the oil and gas producer’s stock worth $141,000 after acquiring an additional 4,153 shares in the last quarter. World Asset Management Inc bought a new position in shares of Gulfport Energy Corporation during the 2nd quarter worth approximately $150,000. LS Investment Advisors LLC raised its stake in shares of Gulfport Energy Corporation by 25.1% during the 2nd quarter. LS Investment Advisors LLC now owns 12,869 shares of the oil and gas producer’s stock worth $190,000 after acquiring an additional 2,584 shares in the last quarter. Finally, Teacher Retirement System of Texas raised its stake in shares of Gulfport Energy Corporation by 4.2% during the 2nd quarter. Teacher Retirement System of Texas now owns 12,869 shares of the oil and gas producer’s stock worth $190,000 after acquiring an additional 520 shares in the last quarter. Hedge funds and other institutional investors own 86.65% of the company’s stock.

Gulfport Energy Corporation 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.

Analyst Recommendations for Gulfport Energy Corporation (NASDAQ:GPOR)

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