Wedge Capital Management L L P NC lessened its position in Gulfport Energy Co. (NASDAQ:GPOR) by 92.7% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 37,465 shares of the oil and gas producer’s stock after selling 472,884 shares during the period. Wedge Capital Management L L P NC’s holdings in Gulfport Energy were worth $102,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently made changes to their positions in the business. Coastal Capital Group Inc. purchased a new position in Gulfport Energy in the second quarter worth $34,000. Meeder Asset Management Inc. increased its stake in Gulfport Energy by 474.1% in the 3rd quarter. Meeder Asset Management Inc. now owns 13,060 shares of the oil and gas producer’s stock worth $34,000 after acquiring an additional 10,785 shares during the last quarter. Virginia Retirement Systems ET AL bought a new position in Gulfport Energy in the 3rd quarter worth about $38,000. Enterprise Bank & Trust Co purchased a new position in shares of Gulfport Energy in the 3rd quarter worth about $41,000. Finally, Magnus Financial Group LLC purchased a new position in shares of Gulfport Energy in the 2nd quarter worth about $57,000. 99.41% of the stock is owned by hedge funds and other institutional investors.
A number of research analysts recently weighed in on GPOR shares. Wells Fargo & Co raised their price objective on Gulfport Energy from $5.00 to $6.00 and gave the company a “market perform” rating in a research report on Friday, September 20th. Zacks Investment Research downgraded Gulfport Energy from a “hold” rating to a “sell” rating and set a $4.25 target price on the stock. in a research report on Wednesday. Jefferies Financial Group cut Gulfport Energy from a “buy” rating to a “hold” rating and decreased their price target for the company from $11.00 to $5.00 in a report on Monday, July 15th. ValuEngine raised Gulfport Energy from a “strong sell” rating to a “sell” rating in a report on Wednesday, October 2nd. Finally, Imperial Capital dropped their price target on Gulfport Energy from $11.00 to $5.00 and set an “outperform” rating for the company in a research report on Friday, October 18th. Five investment analysts have rated the stock with a sell rating, eleven have given a hold rating and four have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $7.64.
Shares of Gulfport Energy stock traded up $0.03 during trading on Friday, hitting $3.55. 2,540,600 shares of the stock were exchanged, compared to its average volume of 4,327,976. The stock has a market cap of $570.45 million, a price-to-earnings ratio of 1.94, a price-to-earnings-growth ratio of 0.17 and a beta of 0.90. The firm’s 50-day moving average price is $2.87 and its 200 day moving average price is $4.16. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.64 and a quick ratio of 0.64. Gulfport Energy Co. has a 12-month low of $2.28 and a 12-month high of $10.09.
Gulfport Energy (NASDAQ:GPOR) last released its quarterly earnings data on Thursday, October 31st. The oil and gas producer reported $0.24 EPS for the quarter, topping analysts’ consensus estimates of $0.22 by $0.02. Gulfport Energy had a net margin of 25.83% and a return on equity of 5.88%. The firm had revenue of $285.18 million for the quarter, compared to the consensus estimate of $335.10 million. During the same quarter in the previous year, the firm earned $0.49 earnings per share. The firm’s revenue was down 21.0% on a year-over-year basis. As a group, research analysts forecast that Gulfport Energy Co. will post 1.01 earnings per share for the current year.
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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