Earnest Partners LLC cut its position in shares of Gulfport Energy Co. (NASDAQ:GPOR) by 88.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 202,157 shares of the oil and gas producer’s stock after selling 1,571,928 shares during the quarter. Earnest Partners LLC owned 0.11% of Gulfport Energy worth $2,580,000 as of its most recent SEC filing.
Several other large investors have also recently bought and sold shares of GPOR. California Public Employees Retirement System grew its stake in Gulfport Energy by 1.9% in the third quarter. California Public Employees Retirement System now owns 731,188 shares of the oil and gas producer’s stock valued at $10,485,000 after purchasing an additional 13,888 shares in the last quarter. Boothbay Fund Management LLC bought a new position in Gulfport Energy in the third quarter valued at approximately $292,000. Dimensional Fund Advisors LP grew its stake in Gulfport Energy by 57.7% in 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 in the last quarter. Swiss National Bank grew its stake in Gulfport Energy by 4.0% in the third quarter. Swiss National Bank now owns 275,258 shares of the oil and gas producer’s stock valued at $3,947,000 after purchasing an additional 10,700 shares in the last quarter. Finally, Prudential Financial Inc. grew its stake in Gulfport Energy by 9.3% in the third quarter. Prudential Financial Inc. now owns 1,098,476 shares of the oil and gas producer’s stock valued at $15,752,000 after purchasing an additional 93,011 shares in the last quarter. Institutional investors and hedge funds own 88.69% of the company’s stock.
A number of research analysts have weighed in on the company. Piper Jaffray Companies set a $16.00 price target on Gulfport Energy and gave the company a “buy” rating in a research note on Wednesday. BidaskClub upgraded Gulfport Energy from a “sell” rating to a “hold” rating in a research note on Monday, March 5th. Zacks Investment Research upgraded Gulfport Energy from a “sell” rating to a “hold” rating in a research note on Tuesday, February 27th. Jefferies Group set a $17.00 price target on Gulfport Energy and gave the company a “buy” rating in a research note on Friday, February 23rd. Finally, Williams Capital set a $17.00 price target on Gulfport Energy and gave the company a “buy” rating in a research note on Thursday, February 22nd. One 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 company presently has an average rating of “Buy” and a consensus target price of $18.63.
Gulfport Energy (NASDAQ:GPOR) last released its quarterly earnings results on Wednesday, February 21st. The oil and gas producer reported $0.45 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.39 by $0.06. The business had revenue of $397.85 million during the quarter, compared to analysts’ expectations of $337.95 million. Gulfport Energy had a return on equity of 8.64% and a net margin of 32.96%. During the same period last year, the firm posted $0.34 EPS. sell-side analysts anticipate that Gulfport Energy Co. will post 1.3 EPS for the current year.
Gulfport Energy announced that its board has authorized a stock buyback program on Monday, January 29th that permits the company to buyback $100.00 million in shares. This buyback authorization permits the oil and gas producer to purchase shares of its stock through open market purchases. Shares buyback programs are generally an indication that the company’s management believes its stock is undervalued.
In other news, Director Paul D. Westerman purchased 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 27th. The stock was acquired at an average cost of $10.14 per share, with a total value of $101,400.00. Following the acquisition, the director now owns 25,488 shares in the company, valued at approximately $258,448.32. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.31% 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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