Gulfport Energy Corporation (NASDAQ:GPOR) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Wednesday. The brokerage currently has a $16.00 target price on the oil and gas producer’s stock. Zacks Investment Research‘s price objective suggests a potential upside of 9.51% from the stock’s current price.

According to Zacks, “Gulfport Energy owns and operates mature oil and gas properties in the Louisiana Gulf Coast area. The company seeks to achieve reserve growth and increased cash flow from operations through low risk development activities on its existing properties and acquiring additional Louisiana Gulf Coast properties with exploitation and exploration potential. “

Other analysts have also recently issued research reports about the stock. Williams Capital set a $21.00 target price on shares of Gulfport Energy Corporation and gave the company a “buy” rating in a research report on Wednesday, August 9th. Scotiabank reiterated a “buy” rating and set a $23.00 target price on shares of Gulfport Energy Corporation in a research report on Friday, June 30th. Stifel Nicolaus dropped their target price on shares of Gulfport Energy Corporation from $21.00 to $18.00 and set a “buy” rating for the company in a research report on Monday, August 14th. Jefferies Group LLC set a $20.00 target price on shares of Gulfport Energy Corporation and gave the company a “buy” rating in a research report on Tuesday, August 29th. Finally, KeyCorp reiterated a “buy” rating and set a $18.00 target price on shares of Gulfport Energy Corporation in a research report on Tuesday, September 19th. One research analyst has rated the stock with a sell rating, six have given a hold rating and twenty-two have assigned a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $24.09.

Shares of Gulfport Energy Corporation (NASDAQ GPOR) traded up 1.25% during trading on Wednesday, hitting $14.61. The stock had a trading volume of 2,592,636 shares. The stock’s 50 day moving average is $13.02 and its 200 day moving average is $14.33. Gulfport Energy Corporation has a 52 week low of $10.90 and a 52 week high of $30.47. The stock’s market capitalization is $2.67 billion.

Gulfport Energy Corporation (NASDAQ:GPOR) last issued its earnings results on Tuesday, August 8th. The oil and gas producer reported $0.33 EPS for the quarter, beating the consensus estimate of $0.25 by $0.08. The company had revenue of $323.90 million during the quarter, compared to analysts’ expectations of $279.59 million. Gulfport Energy Corporation had a negative net margin of 15.02% and a positive return on equity of 7.42%. The business’s revenue for the quarter was up 1052.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.24 EPS. On average, equities research analysts expect that Gulfport Energy Corporation will post $1.39 earnings per share for the current fiscal year.

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Several institutional investors have recently bought and sold shares of the company. Utah Retirement Systems boosted its stake in shares of Gulfport Energy Corporation by 0.3% during the 2nd quarter. Utah Retirement Systems now owns 29,100 shares of the oil and gas producer’s stock worth $429,000 after buying an additional 100 shares during the last quarter. Envestnet Asset Management Inc. boosted its stake in shares of Gulfport Energy Corporation by 1.2% during the 1st quarter. Envestnet Asset Management Inc. now owns 37,541 shares of the oil and gas producer’s stock worth $646,000 after buying an additional 453 shares during the last quarter. Teacher Retirement System of Texas boosted its stake in shares of Gulfport Energy Corporation by 4.2% during the 2nd quarter. Teacher Retirement System of Texas now owns 12,869 shares of the oil and gas producer’s stock worth $190,000 after buying an additional 520 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Gulfport Energy Corporation by 11.8% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,756 shares of the oil and gas producer’s stock worth $100,000 after buying an additional 712 shares during the last quarter. Finally, Comerica Bank boosted its stake in shares of Gulfport Energy Corporation by 0.3% during the 2nd quarter. Comerica Bank now owns 209,326 shares of the oil and gas producer’s stock worth $2,698,000 after buying an additional 720 shares during the last quarter. Institutional investors own 86.65% of the company’s stock.

Gulfport Energy Corporation 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.

Analyst Recommendations for Gulfport Energy Corporation (NASDAQ:GPOR)

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