Gulfport Energy Corporation (NASDAQ:GPOR) Raised to “Buy” at Zacks Investment Research

Zacks Investment Research upgraded shares of Gulfport Energy Corporation (NASDAQ:GPOR) from a hold rating to a buy rating in a research note published on Wednesday, July 12th. Zacks Investment Research currently has $16.00 price target 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. “

Other analysts have also recently issued reports about the company. Scotiabank set a $31.00 target price on Gulfport Energy Corporation and gave the stock a buy rating in a research note on Monday, March 20th. Williams Capital reissued a buy rating and issued a $28.00 target price on shares of Gulfport Energy Corporation in a research note on Wednesday, April 19th. KLR Group reissued a buy rating and issued a $22.00 target price (down from $23.00) on shares of Gulfport Energy Corporation in a research note on Wednesday, May 17th. Royal Bank Of Canada set a $25.00 target price on Gulfport Energy Corporation and gave the stock a buy rating in a research note on Friday, June 2nd. Finally, Barclays PLC restated an overweight rating and issued a $28.00 price objective (down from $30.00) on shares of Gulfport Energy Corporation in a report on Saturday, April 22nd. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and twenty have issued a buy rating to the company. The stock has an average rating of Buy and a consensus target price of $25.91.

Shares of Gulfport Energy Corporation (NASDAQ:GPOR) opened at 11.90 on Wednesday. Gulfport Energy Corporation has a 52-week low of $10.90 and a 52-week high of $30.47. The firm’s market cap is $2.18 billion. The stock’s 50 day moving average is $13.35 and its 200-day moving average is $15.97.

Gulfport Energy Corporation (NASDAQ:GPOR) last announced its quarterly earnings data on Tuesday, August 8th. The oil and gas producer reported $0.33 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.25 by $0.08. Gulfport Energy Corporation had a positive return on equity of 7.42% and a negative net margin of 15.02%. The firm had revenue of $323.90 million for the quarter, compared to analysts’ expectations of $279.59 million. During the same period last year, the firm earned $0.24 earnings per share. The company’s revenue for the quarter was up 1052.7% compared to the same quarter last year. Equities analysts anticipate that Gulfport Energy Corporation will post $1.34 earnings per share for the current fiscal year.

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Several large investors have recently modified their holdings of the stock. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Gulfport Energy Corporation by 11.8% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,756 shares of the oil and gas producer’s stock worth $100,000 after buying an additional 712 shares during the last quarter. Elkfork Partners LLC increased its stake in shares of Gulfport Energy Corporation by 38.4% in the first quarter. Elkfork Partners LLC now owns 6,666 shares of the oil and gas producer’s stock worth $115,000 after buying an additional 1,848 shares during the last quarter. Riverhead Capital Management LLC increased its stake in shares of Gulfport Energy Corporation by 76.9% in the second quarter. Riverhead Capital Management LLC now owns 9,553 shares of the oil and gas producer’s stock worth $141,000 after buying an additional 4,153 shares during the last quarter. Meadow Creek Investment Management LLC increased its stake in shares of Gulfport Energy Corporation by 38.4% in the first quarter. Meadow Creek Investment Management LLC now owns 8,484 shares of the oil and gas producer’s stock worth $146,000 after buying an additional 2,352 shares during the last quarter. Finally, World Asset Management Inc acquired a new stake in shares of Gulfport Energy Corporation during the second quarter worth about $150,000. 88.47% of the stock is owned by hedge funds and other institutional investors.

About Gulfport Energy Corporation

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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