Zacks Investment Research Lowers Gulfport Energy (NASDAQ:GPOR) to Sell

Gulfport Energy (NASDAQ:GPOR) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Tuesday, Zacks.com reports. They currently have a $3.00 price objective on the oil and gas producer’s stock. Zacks Investment Research‘s target price would suggest a potential upside of 20.97% from the company’s current price.

According to Zacks, “Gulfport Energy's core operations are focused in the Utica Shale of Ohio and the SCOOP play in Oklahoma, providing this E&P with a rich drilling inventory. The company’s improving execution and well performance has led to production growth while the acquisition of ‘oily’ SCOOP assets in 2017 has enabled Gulfport to produce more liquids and diversify its sales. The company's decent financials and investor friendly moves also bode well. However, being a natural gas-weighted company, Gulfport continues to reel under the effects of the commodity's price struggles. Increasing costs are limiting the profit levels of the firm. Further, takeaway constraints in Appalachia along with the firm’s non-core holdings in certain regions are leading to lost revenues. As such, Gulfport Energy warrants a cautious stance. “

A number of other research firms have also commented on GPOR. Wells Fargo & Co raised their price target on shares of Gulfport Energy from $5.00 to $6.00 and gave the stock a “market perform” rating in a research report on Friday, September 20th. SunTrust Banks downgraded shares of Gulfport Energy from a “buy” rating to a “hold” rating and cut their price objective for the company from $6.00 to $3.00 in a report on Friday, November 15th. ValuEngine upgraded shares of Gulfport Energy from a “strong sell” rating to a “sell” rating in a research report on Wednesday, October 2nd. Piper Jaffray Companies set a $7.00 target price on shares of Gulfport Energy and gave the stock a “buy” rating in a report on Friday, August 16th. Finally, BidaskClub downgraded shares of Gulfport Energy from a “sell” rating to a “strong sell” rating in a research report on Wednesday, November 20th. Five equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $6.54.

NASDAQ:GPOR traded up $0.05 during mid-day trading on Tuesday, hitting $2.48. 52,116 shares of the stock were exchanged, compared to its average volume of 3,933,547. The stock has a market capitalization of $396.07 million, a price-to-earnings ratio of 1.35, a price-to-earnings-growth ratio of 0.12 and a beta of 0.86. The firm’s 50-day simple moving average is $2.88 and its 200 day simple moving average is $3.69. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.64 and a current ratio of 0.64. Gulfport Energy has a fifty-two week low of $2.28 and a fifty-two week high of $10.09.

Gulfport Energy (NASDAQ:GPOR) last issued its quarterly earnings data on Thursday, October 31st. The oil and gas producer reported $0.24 EPS for the quarter, beating analysts’ consensus estimates of $0.22 by $0.02. The firm had revenue of $285.18 million for the quarter, compared to analyst estimates of $335.10 million. Gulfport Energy had a return on equity of 5.88% and a net margin of 25.83%. The company’s revenue for the quarter was down 21.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.49 EPS. On average, analysts predict that Gulfport Energy will post 0.96 EPS for the current fiscal year.

Several institutional investors have recently modified their holdings of GPOR. FMR LLC lifted its stake in Gulfport Energy by 4,927,254.2% during the first quarter. FMR LLC now owns 1,182,565 shares of the oil and gas producer’s stock worth $9,484,000 after purchasing an additional 1,182,541 shares during the last quarter. First Trust Advisors LP raised its holdings in shares of Gulfport Energy by 24.1% during the 1st quarter. First Trust Advisors LP now owns 654,452 shares of the oil and gas producer’s stock worth $5,249,000 after buying an additional 126,888 shares in the last quarter. Amundi Pioneer Asset Management Inc. raised its holdings in shares of Gulfport Energy by 119.8% during the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 366,957 shares of the oil and gas producer’s stock worth $2,943,000 after buying an additional 200,000 shares in the last quarter. Brookstone Capital Management lifted its position in shares of Gulfport Energy by 105.6% during the 2nd quarter. Brookstone Capital Management now owns 82,228 shares of the oil and gas producer’s stock worth $404,000 after buying an additional 42,239 shares during the last quarter. Finally, Strs Ohio lifted its position in shares of Gulfport Energy by 7.5% during the 2nd quarter. Strs Ohio now owns 111,800 shares of the oil and gas producer’s stock worth $548,000 after buying an additional 7,800 shares during the last quarter. 94.66% of the stock is owned by institutional investors.

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.

Recommended Story: What is the float in trading stocks?

Get a free copy of the Zacks research report on Gulfport Energy (GPOR)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Gulfport Energy (NASDAQ:GPOR)

Receive News & Ratings for Gulfport Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Gulfport Energy and related companies with MarketBeat.com's FREE daily email newsletter.