Gulfport Energy Co. (NASDAQ:GPOR) – Stock analysts at US Capital Advisors lowered their Q3 2018 earnings estimates for shares of Gulfport Energy in a report issued on Friday. US Capital Advisors analyst C. Horwitz now anticipates that the oil and gas producer will post earnings of $0.32 per share for the quarter, down from their previous forecast of $0.33. US Capital Advisors also issued estimates for Gulfport Energy’s Q1 2019 earnings at $0.28 EPS.
GPOR has been the topic of several other reports. Barclays lowered shares of Gulfport Energy from an “overweight” rating to an “equal weight” rating and set a $16.00 price objective on the stock. in a research report on Monday, November 20th. Piper Jaffray Companies reissued a “buy” rating and issued a $20.00 price objective on shares of Gulfport Energy in a research report on Tuesday, January 9th. Credit Suisse Group began coverage on shares of Gulfport Energy in a research report on Monday, December 11th. They issued a “neutral” rating and a $15.00 price objective on the stock. Zacks Investment Research lowered shares of Gulfport Energy from a “hold” rating to a “sell” rating in a research report on Thursday, February 1st. Finally, Williams Capital set a $18.00 price objective on shares of Gulfport Energy and gave the company a “buy” rating in a research report on Monday, November 27th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and fifteen have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $18.82.
Gulfport Energy (NASDAQ:GPOR) last posted its quarterly earnings results on Wednesday, February 21st. The oil and gas producer reported $0.45 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.39 by $0.06. Gulfport Energy had a net margin of 32.96% and a return on equity of 8.64%. The firm had revenue of $397.85 million for the quarter, compared to analyst estimates of $337.95 million. During the same period in the prior year, the firm posted $0.34 earnings per share.
Large investors have recently added to or reduced their stakes in the stock. State of Alaska Department of Revenue bought a new position in Gulfport Energy during the fourth quarter worth about $137,000. BKS Advisors LLC acquired a new stake in Gulfport Energy during the third quarter worth about $161,000. Oakbrook Investments LLC acquired a new stake in Gulfport Energy during the fourth quarter worth about $180,000. Delpha Capital Management LLC acquired a new stake in Gulfport Energy during the fourth quarter worth about $187,000. Finally, Crossmark Global Holdings Inc. acquired a new stake in Gulfport Energy during the third quarter worth about $211,000. 88.69% of the stock is currently owned by institutional investors and hedge funds.
In related news, VP Steve Baldwin sold 4,000 shares of the firm’s stock in a transaction dated Friday, December 15th. The shares were sold at an average price of $12.17, for a total transaction of $48,680.00. Following the transaction, the vice president now directly owns 32,634 shares of the company’s stock, valued at $397,155.78. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Paul D. Westerman purchased 10,000 shares of the stock in a transaction that occurred on Tuesday, February 27th. The shares were acquired at an average cost of $10.14 per share, for a total transaction of $101,400.00. Following the completion of the transaction, the director now owns 25,488 shares of the company’s stock, valued at approximately $258,448.32. The disclosure for this purchase can be found here. Over the last ninety days, insiders have sold 151,253 shares of company stock worth $1,839,219. 0.21% of the stock is owned by insiders.
Gulfport Energy announced that its Board of Directors has initiated a share repurchase program on Monday, January 29th that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the oil and gas producer to purchase shares of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s leadership believes its stock is undervalued.
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Gulfport Energy Company Profile
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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