Gulfport Energy Co. (NASDAQ:GPOR) – Capital One Financial lifted their Q1 2018 earnings per share (EPS) estimates for Gulfport Energy in a research report issued on Tuesday. Capital One Financial analyst B. Velie now expects that the oil and gas producer will post earnings per share of $0.41 for the quarter, up from their prior forecast of $0.40.
GPOR has been the subject of several other reports. Morgan Stanley increased their price target on Gulfport Energy from $12.00 to $13.00 and gave the company an “underweight” rating in a research report on Wednesday, October 18th. Zacks Investment Research cut Gulfport Energy from a “hold” rating to a “sell” rating in a research report on Friday, January 26th. ValuEngine cut Gulfport Energy from a “buy” rating to a “hold” rating in a research report on Sunday, December 31st. Piper Jaffray Companies reissued a “buy” rating and set a $20.00 price target on shares of Gulfport Energy in a research report on Tuesday, January 9th. Finally, Wells Fargo & Co reduced their price target on Gulfport Energy from $20.00 to $18.00 and set an “outperform” rating for the company in a research report on Wednesday, January 31st. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and sixteen have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $19.71.
A number of large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake in Gulfport Energy by 6.3% during the 2nd quarter. Vanguard Group Inc. now owns 13,274,246 shares of the oil and gas producer’s stock worth $195,796,000 after acquiring an additional 786,991 shares during the period. State Street Corp increased its stake in Gulfport Energy by 15.1% during the 2nd quarter. State Street Corp now owns 7,443,039 shares of the oil and gas producer’s stock worth $109,780,000 after acquiring an additional 979,127 shares during the period. Janus Henderson Group PLC increased its stake in Gulfport Energy by 22.6% during the 3rd quarter. Janus Henderson Group PLC now owns 6,467,222 shares of the oil and gas producer’s stock worth $92,740,000 after acquiring an additional 1,193,723 shares during the period. Dimensional Fund Advisors LP increased its stake in Gulfport Energy by 57.7% during the 3rd quarter. Dimensional Fund Advisors LP now owns 5,141,604 shares of the oil and gas producer’s stock worth $73,731,000 after acquiring an additional 1,881,196 shares during the period. Finally, Boston Partners increased its stake in Gulfport Energy by 7.7% during the 4th quarter. Boston Partners now owns 4,523,096 shares of the oil and gas producer’s stock worth $57,714,000 after acquiring an additional 321,810 shares during the period. 85.18% of the stock is owned by institutional investors and hedge funds.
In related news, CEO Michael G. Moore sold 118,494 shares of Gulfport Energy stock in a transaction that occurred on Friday, December 15th. The stock was sold at an average price of $12.16, for a total transaction of $1,440,887.04. Following the completion of the sale, the chief executive officer now directly owns 295,449 shares of the company’s stock, valued at approximately $3,592,659.84. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Steve Baldwin sold 4,000 shares of Gulfport Energy stock in a transaction that occurred on Friday, December 15th. The stock was sold at an average price of $12.17, for a total value of $48,680.00. Following the sale, the vice president now directly owns 32,634 shares of the company’s stock, valued at $397,155.78. The disclosure for this sale can be found here. Over the last three months, insiders have sold 151,253 shares of company stock valued at $1,839,219. 0.31% of the stock is currently owned by insiders.
Gulfport Energy declared that its board has approved a share buyback program on Monday, January 29th that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the oil and gas producer to reacquire shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.
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About Gulfport Energy
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.
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