Bank of New York Mellon Corp lowered its stake in Gulfport Energy Corporation (NASDAQ:GPOR) by 1.3% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,866,408 shares of the oil and gas producer’s stock after selling 24,221 shares during the period. Bank of New York Mellon Corp owned approximately 1.02% of Gulfport Energy worth $26,763,000 at the end of the most recent reporting period.
Several other large investors also recently added to or reduced their stakes in the company. Rhumbline Advisers boosted its stake in shares of Gulfport Energy by 13.0% in the third quarter. Rhumbline Advisers now owns 314,982 shares of the oil and gas producer’s stock valued at $4,517,000 after buying an additional 36,265 shares in the last quarter. Hillcrest Asset Management LLC purchased a new stake in shares of Gulfport Energy in the third quarter valued at approximately $7,148,000. Los Angeles Capital Management & Equity Research Inc. boosted its stake in shares of Gulfport Energy by 425.3% in the third quarter. Los Angeles Capital Management & Equity Research Inc. now owns 146,956 shares of the oil and gas producer’s stock valued at $2,107,000 after buying an additional 118,983 shares in the last quarter. New York State Common Retirement Fund boosted its stake in shares of Gulfport Energy by 3.3% in the third quarter. New York State Common Retirement Fund now owns 905,290 shares of the oil and gas producer’s stock valued at $12,982,000 after buying an additional 28,881 shares in the last quarter. Finally, Retirement Systems of Alabama boosted its position in Gulfport Energy by 3.5% during the third quarter. Retirement Systems of Alabama now owns 212,320 shares of the oil and gas producer’s stock worth $3,045,000 after purchasing an additional 7,258 shares in the last quarter. 86.93% of the stock is currently owned by institutional investors and hedge funds.
A number of analysts have commented on the company. Zacks Investment Research upgraded Gulfport Energy from a “hold” rating to a “buy” rating and set a $16.00 target price on the stock in a research report on Wednesday, October 11th. Jefferies Group reiterated a “buy” rating and set a $18.00 target price on shares of Gulfport Energy in a research report on Thursday, October 12th. Mizuho reiterated a “buy” rating and set a $23.00 target price on shares of Gulfport Energy in a research report on Wednesday, October 4th. Scotiabank reiterated a “buy” rating and set a $23.00 target price on shares of Gulfport Energy in a research report on Monday, October 9th. Finally, Morgan Stanley boosted their target price on Gulfport Energy from $12.00 to $13.00 and gave the stock an “underweight” rating in a research report on Wednesday, October 18th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and eighteen have given a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $21.52.
Gulfport Energy (NASDAQ:GPOR) last released its earnings results on Wednesday, November 1st. The oil and gas producer reported $0.32 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.35 by ($0.03). The business had revenue of $265.50 million during the quarter, compared to analyst estimates of $302.33 million. Gulfport Energy had a net margin of 3.88% and a return on equity of 7.99%. The business’s revenue for the quarter was up 37.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.16 earnings per share. equities analysts predict that Gulfport Energy Corporation will post 1.35 EPS for the current fiscal year.
In other Gulfport Energy news, Director Paul D. Westerman bought 10,000 shares of the company’s stock in a transaction that occurred on Thursday, November 30th. The stock was purchased at an average cost of $12.75 per share, for a total transaction of $127,500.00. Following the completion of the purchase, the director now owns 15,488 shares of the company’s stock, valued at approximately $197,472. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.21% of the company’s stock.
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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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