Gulfport Energy Co. (NASDAQ:GPOR) saw a significant increase in short interest during the month of March. As of March 31st, there was short interest totalling 9,079,213 shares, an increase of 4.2% from the March 15th total of 8,709,713 shares. Based on an average daily trading volume, of 3,614,419 shares, the days-to-cover ratio is currently 2.5 days.
A number of analysts recently issued reports on the company. Credit Suisse Group AG lowered their price target on Gulfport Energy to $33.00 in a research report on Friday, December 23rd. SunTrust Banks, Inc. set a $32.00 price target on Gulfport Energy and gave the stock a “buy” rating in a research report on Sunday, December 25th. Mizuho restated a “buy” rating and issued a $32.00 price target (down from $36.00) on shares of Gulfport Energy in a research report on Wednesday, December 28th. Zacks Investment Research downgraded Gulfport Energy from a “buy” rating to a “hold” rating in a research report on Wednesday, January 25th. Finally, Wolfe Research upgraded Gulfport Energy to an “outperform” rating in a research report on Friday, January 20th. One analyst has rated the stock with a sell rating, five have issued a hold rating and twenty-two have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $30.35.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in GPOR. Marshall Wace LLP acquired a new position in Gulfport Energy during the fourth quarter worth approximately $54,341,000. Norges Bank acquired a new position in Gulfport Energy during the fourth quarter worth approximately $25,441,000. Alyeska Investment Group L.P. acquired a new position in Gulfport Energy during the fourth quarter worth approximately $25,329,000. Cobalt Capital Management Inc. increased its position in Gulfport Energy by 228.8% in the third quarter. Cobalt Capital Management Inc. now owns 1,512,936 shares of the oil and gas producer’s stock worth $42,740,000 after buying an additional 1,052,835 shares during the last quarter. Finally, Zimmer Partners LP increased its position in Gulfport Energy by 700.0% in the fourth quarter. Zimmer Partners LP now owns 1,000,000 shares of the oil and gas producer’s stock worth $21,640,000 after buying an additional 875,000 shares during the last quarter. Institutional investors and hedge funds own 85.13% of the company’s stock.
Shares of Gulfport Energy (NASDAQ:GPOR) opened at 16.22 on Friday. The company’s market cap is $2.58 billion. Gulfport Energy has a 12 month low of $15.31 and a 12 month high of $34.67. The company’s 50-day moving average price is $16.73 and its 200-day moving average price is $21.90.
Gulfport Energy (NASDAQ:GPOR) last released its quarterly earnings data on Monday, February 13th. The oil and gas producer reported $0.34 EPS for the quarter, beating analysts’ consensus estimates of $0.22 by $0.12. The business earned $202.70 million during the quarter, compared to analysts’ expectations of $197.91 million. During the same quarter in the previous year, the company posted ($0.01) EPS. The company’s revenue was down 66.7% compared to the same quarter last year. Equities analysts forecast that Gulfport Energy will post $1.02 EPS for the current fiscal year.
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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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