Gulfport Energy Co. (NASDAQ:GPOR) – Equities research analysts at KeyCorp dropped their Q1 2018 EPS estimates for Gulfport Energy in a research report issued on Wednesday, Zacks Investment Research reports. KeyCorp analyst D. Deckelbaum now expects that the oil and gas producer will post earnings per share of $0.39 for the quarter, down from their previous forecast of $0.40. KeyCorp currently has a “Buy” rating and a $15.00 price target on the stock. KeyCorp also issued estimates for Gulfport Energy’s Q2 2018 earnings at $0.35 EPS, Q3 2018 earnings at $0.36 EPS, Q4 2018 earnings at $0.41 EPS, FY2018 earnings at $1.51 EPS and FY2019 earnings at $1.66 EPS.
Other analysts have also issued reports about the stock. Williams Capital set a $18.00 price objective on shares of Gulfport Energy and gave the company a “buy” rating in a research note on Thursday, December 21st. Mizuho set a $18.00 price target on shares of Gulfport Energy and gave the stock a “buy” rating in a research report on Tuesday, January 16th. Piper Jaffray Companies reissued a “buy” rating and issued a $20.00 price target on shares of Gulfport Energy in a research report on Tuesday, January 9th. SunTrust Banks reissued a “buy” rating and issued a $26.00 price target on shares of Gulfport Energy in a research report on Friday, December 8th. Finally, Scotiabank set a $22.00 price target on shares of Gulfport Energy and gave the stock a “buy” rating in a research report on Saturday, November 25th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and fifteen have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $18.82.
Gulfport Energy (NASDAQ:GPOR) last announced its earnings results on Wednesday, February 21st. The oil and gas producer reported $0.45 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.39 by $0.06. The firm had revenue of $397.85 million during the quarter, compared to analyst estimates of $337.95 million. Gulfport Energy had a net margin of 32.96% and a return on equity of 8.64%. During the same quarter in the prior year, the firm posted $0.34 EPS.
Gulfport Energy declared that its Board of Directors has approved a stock repurchase plan on Monday, January 29th that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the oil and gas producer to reacquire shares of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.
In related news, VP Steve Baldwin sold 4,000 shares of the stock in a transaction that occurred on Friday, December 15th. The stock was sold at an average price of $12.17, for a total value of $48,680.00. Following the transaction, the vice president now owns 32,634 shares in the company, valued at $397,155.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Craig Groeschel sold 7,059 shares of the stock in a transaction that occurred on Friday, December 15th. The stock was sold at an average price of $12.16, for a total value of $85,837.44. Following the completion of the transaction, the director now owns 18,389 shares in the company, valued at approximately $223,610.24. The disclosure for this sale can be found here. Insiders sold 151,253 shares of company stock worth $1,839,219 in the last 90 days. 0.21% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently made changes to their positions in GPOR. Victory Capital Management Inc. grew its holdings in Gulfport Energy by 246.5% during the third quarter. Victory Capital Management Inc. now owns 3,015,217 shares of the oil and gas producer’s stock valued at $43,239,000 after purchasing an additional 2,145,082 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in Gulfport Energy by 57.7% during the third quarter. Dimensional Fund Advisors LP now owns 5,141,604 shares of the oil and gas producer’s stock valued at $73,731,000 after purchasing an additional 1,881,196 shares during the last quarter. Schroder Investment Management Group grew its holdings in Gulfport Energy by 39.1% during the fourth quarter. Schroder Investment Management Group now owns 4,278,562 shares of the oil and gas producer’s stock valued at $54,594,000 after purchasing an additional 1,202,052 shares during the last quarter. Janus Henderson Group PLC grew its holdings in Gulfport Energy by 22.6% during the third quarter. Janus Henderson Group PLC now owns 6,467,222 shares of the oil and gas producer’s stock valued at $92,740,000 after purchasing an additional 1,193,723 shares during the last quarter. Finally, Allianz Asset Management GmbH grew its holdings in Gulfport Energy by 176.1% during the third quarter. Allianz Asset Management GmbH now owns 1,063,003 shares of the oil and gas producer’s stock valued at $15,243,000 after purchasing an additional 678,003 shares during the last quarter. Institutional investors own 88.69% of the company’s stock.
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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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