Mackay Shields LLC Acquires 115,668 Shares of Gulfport Energy Corporation $GPOR

Mackay Shields LLC grew its stake in shares of Gulfport Energy Corporation (NYSE:GPOR) by 756.6% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 130,956 shares of the company’s stock after buying an additional 115,668 shares during the quarter. Mackay Shields LLC owned 0.75% of Gulfport Energy worth $23,700,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of GPOR. Strs Ohio bought a new stake in Gulfport Energy during the 1st quarter valued at $239,000. Livforsakringsbolaget Skandia Omsesidigt increased its position in shares of Gulfport Energy by 337.6% in the second quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 61,700 shares of the company’s stock valued at $12,412,000 after acquiring an additional 47,600 shares during the period. Pallas Capital Advisors LLC bought a new position in shares of Gulfport Energy during the second quarter valued at about $263,000. Wealth Enhancement Advisory Services LLC purchased a new stake in shares of Gulfport Energy during the second quarter worth about $557,000. Finally, Canoe Financial LP bought a new stake in shares of Gulfport Energy in the second quarter worth about $13,257,000.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. Jefferies Financial Group began coverage on shares of Gulfport Energy in a research note on Thursday, October 23rd. They set a “buy” rating and a $250.00 target price on the stock. Wall Street Zen upgraded Gulfport Energy from a “hold” rating to a “buy” rating in a report on Saturday, November 22nd. Roth Capital initiated coverage on Gulfport Energy in a research note on Monday, October 13th. They issued a “neutral” rating and a $200.00 target price for the company. Zacks Research upgraded Gulfport Energy from a “strong sell” rating to a “hold” rating in a research report on Wednesday, January 7th. Finally, Tudor Pickering downgraded Gulfport Energy from a “strong-buy” rating to a “hold” rating in a report on Monday, December 1st. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat.com, Gulfport Energy presently has an average rating of “Moderate Buy” and an average target price of $230.88.

Gulfport Energy Stock Performance

Shares of GPOR opened at $177.74 on Wednesday. Gulfport Energy Corporation has a 52 week low of $153.27 and a 52 week high of $225.78. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 0.39. The stock has a market cap of $3.43 billion, a P/E ratio of -93.55 and a beta of 0.61. The business’s 50 day moving average price is $205.05 and its 200-day moving average price is $187.12.

Gulfport Energy (NYSE:GPOR) last released its earnings results on Tuesday, November 4th. The company reported $3.13 EPS for the quarter, missing analysts’ consensus estimates of $4.64 by ($1.51). Gulfport Energy had a return on equity of 20.95% and a net margin of 1.68%.The company had revenue of $379.75 million during the quarter, compared to analysts’ expectations of $343.18 million.

Insider Activity at Gulfport Energy

In other Gulfport Energy news, SVP Lester Zitkus sold 4,745 shares of the firm’s stock in a transaction dated Wednesday, January 7th. The shares were sold at an average price of $185.69, for a total transaction of $881,099.05. Following the completion of the sale, the senior vice president directly owned 7,821 shares in the company, valued at approximately $1,452,281.49. This trade represents a 37.76% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Timothy J. Cutt sold 2,500 shares of Gulfport Energy stock in a transaction dated Tuesday, December 30th. The stock was sold at an average price of $214.74, for a total transaction of $536,850.00. Following the completion of the transaction, the director directly owned 31,255 shares of the company’s stock, valued at $6,711,698.70. This trade represents a 7.41% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 312,172 shares of company stock worth $67,975,930 in the last ninety days. 0.33% of the stock is currently owned by company insiders.

Gulfport Energy 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.