Gulfport Energy Corporation $GPOR Shares Sold by Jennison Associates LLC

Jennison Associates LLC lowered its holdings in Gulfport Energy Corporation (NYSE:GPOR) by 7.5% during the first quarter, HoldingsChannel.com reports. The fund owned 620,847 shares of the company’s stock after selling 50,636 shares during the period. Jennison Associates LLC’s holdings in Gulfport Energy were worth $131,352,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Hillsdale Investment Management Inc. raised its position in shares of Gulfport Energy by 6.7% during the 1st quarter. Hillsdale Investment Management Inc. now owns 25,640 shares of the company’s stock worth $5,425,000 after buying an additional 1,600 shares in the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its holdings in shares of Gulfport Energy by 18.0% in the 1st quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 2,966 shares of the company’s stock valued at $628,000 after purchasing an additional 452 shares during the period. Fifth Third Bancorp purchased a new stake in Gulfport Energy in the 1st quarter worth approximately $702,000. Sequoia Financial Advisors LLC raised its holdings in shares of Gulfport Energy by 4.6% during the first quarter. Sequoia Financial Advisors LLC now owns 3,095 shares of the company’s stock worth $655,000 after acquiring an additional 136 shares in the last quarter. Finally, Hsbc Holdings PLC acquired a new stake in shares of Gulfport Energy during the 1st quarter valued at about $1,844,000.

Wall Street Analyst Weigh In

GPOR has been the subject of a number of recent analyst reports. Weiss Ratings cut Gulfport Energy from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday. Zacks Research downgraded shares of Gulfport Energy from a “hold” rating to a “strong sell” rating in a report on Monday, July 13th. UBS Group dropped their target price on shares of Gulfport Energy from $260.00 to $245.00 and set a “buy” rating on the stock in a report on Thursday, April 16th. Truist Financial cut their price objective on Gulfport Energy from $219.00 to $190.00 and set a “hold” rating for the company in a research report on Friday, July 10th. Finally, Mizuho raised shares of Gulfport Energy from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $251.00 to $252.00 in a research report on Wednesday, May 27th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $227.00.

Gulfport Energy Stock Performance

Gulfport Energy stock opened at $153.09 on Friday. Gulfport Energy Corporation has a 12-month low of $149.60 and a 12-month high of $225.78. The stock has a 50-day simple moving average of $167.66 and a 200 day simple moving average of $187.31. The stock has a market capitalization of $2.75 billion, a price-to-earnings ratio of 5.23 and a beta of 0.41. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 0.46.

Gulfport Energy Company Profile

Gulfport Energy Corporation is an independent oil and gas exploration and production company based in Oklahoma City, Oklahoma. The company focuses on the development of onshore natural gas, natural gas liquids (NGLs) and crude oil properties in the United States. Gulfport utilizes horizontal drilling and multi-stage hydraulic fracturing techniques to maximize production and enhance recovery from its resource plays.

The company’s primary operations are concentrated in two major U.S. resource basins.