Gulfport Energy (GPOR) Upgraded to Overweight by J P Morgan Chase & Co

J P Morgan Chase & Co upgraded shares of Gulfport Energy (NASDAQ:GPOR) from a neutral rating to an overweight rating in a research note released on Friday. J P Morgan Chase & Co currently has $18.00 price target on the oil and gas producer’s stock.

Several other analysts have also commented on GPOR. SunTrust Banks restated a buy rating and set a $26.00 price target on shares of Gulfport Energy in a research report on Friday, December 8th. Credit Suisse Group began coverage on shares of Gulfport Energy in a research report on Monday, December 11th. They set a neutral rating and a $15.00 price target on the stock. Piper Jaffray Companies restated an overweight rating and set a $21.00 price target (down previously from $22.00) on shares of Gulfport Energy in a research report on Tuesday, August 22nd. Morgan Stanley restated an underweight rating and set a $13.00 price target on shares of Gulfport Energy in a research report on Thursday. Finally, Scotiabank restated a buy rating and set a $23.00 price target on shares of Gulfport Energy in a research report on Monday, October 9th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and nineteen have given a buy rating to the stock. Gulfport Energy presently has an average rating of Buy and an average target price of $21.57.

Gulfport Energy (NASDAQ:GPOR) traded down $0.16 during mid-day trading on Friday, reaching $12.03. 5,102,681 shares of the company traded hands, compared to its average volume of 2,836,319. The firm has a market capitalization of $2,231.77, a price-to-earnings ratio of 9.31, a PEG ratio of 0.30 and a beta of 0.69. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 0.67. Gulfport Energy has a 52 week low of $10.90 and a 52 week high of $23.11.

Gulfport Energy (NASDAQ:GPOR) last released its quarterly earnings results on Wednesday, November 1st. The oil and gas producer reported $0.32 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.35 by ($0.03). The firm had revenue of $265.50 million for the quarter, compared to analyst estimates of $302.33 million. Gulfport Energy had a net margin of 3.88% and a return on equity of 7.99%. The firm’s quarterly revenue was up 37.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.16 EPS. research analysts predict that Gulfport Energy will post 1.35 EPS for the current year.

In other Gulfport Energy news, Director Paul D. Westerman purchased 10,000 shares of the firm’s stock in a transaction dated Thursday, November 30th. The shares were purchased at an average cost of $12.75 per share, with a total value of $127,500.00. Following the completion of the purchase, the director now owns 15,488 shares in the company, valued at approximately $197,472. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.31% of the company’s stock.

A number of hedge funds have recently modified their holdings of GPOR. Capstone Asset Management Co. raised its stake in Gulfport Energy by 7.6% during the second quarter. Capstone Asset Management Co. now owns 13,732 shares of the oil and gas producer’s stock worth $203,000 after purchasing an additional 970 shares during the period. Aperio Group LLC raised its stake in Gulfport Energy by 31.9% during the second quarter. Aperio Group LLC now owns 53,117 shares of the oil and gas producer’s stock worth $783,000 after purchasing an additional 12,857 shares during the period. Janney Montgomery Scott LLC raised its stake in Gulfport Energy by 11.4% during the second quarter. Janney Montgomery Scott LLC now owns 24,260 shares of the oil and gas producer’s stock worth $358,000 after purchasing an additional 2,484 shares during the period. Great West Life Assurance Co. Can raised its stake in Gulfport Energy by 3.4% during the second quarter. Great West Life Assurance Co. Can now owns 93,265 shares of the oil and gas producer’s stock worth $1,374,000 after purchasing an additional 3,094 shares during the period. Finally, World Asset Management Inc purchased a new position in Gulfport Energy during the second quarter worth about $150,000. 86.93% of the stock is currently owned by institutional investors.

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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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