Gulfport Energy (NYSE:GPOR) Shares Down 5.2% – Here’s Why

Gulfport Energy Corporation (NYSE:GPOR)’s stock price was down 5.2% during mid-day trading on Tuesday . The stock traded as low as $152.64 and last traded at $155.2730. Approximately 184,523 shares were traded during trading, a decline of 48% from the average daily volume of 353,559 shares. The stock had previously closed at $163.84.

Analyst Ratings Changes

Several analysts recently issued reports on GPOR shares. Truist Financial decreased their target price on Gulfport Energy from $219.00 to $190.00 and set a “hold” rating on the stock in a research note on Friday, July 10th. UBS Group cut their price objective on shares of Gulfport Energy from $260.00 to $245.00 and set a “buy” rating for the company in a report on Thursday, April 16th. Zacks Research cut shares of Gulfport Energy from a “hold” rating to a “strong sell” rating in a research report on Monday, July 13th. Weiss Ratings downgraded shares of Gulfport Energy from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, July 16th. Finally, Mizuho upgraded shares of Gulfport Energy from a “neutral” rating to an “outperform” rating and upped 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 given a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $227.00.

Gulfport Energy Stock Down 5.6%

The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.56 and a current ratio of 0.56. The company has a fifty day moving average price of $162.24 and a 200-day moving average price of $184.46. The firm has a market capitalization of $2.78 billion, a PE ratio of 5.29 and a beta of 0.41.

Institutional Investors Weigh In On Gulfport Energy

Institutional investors have recently modified their holdings of the stock. Assenagon Asset Management S.A. raised its position in Gulfport Energy by 4,946.1% in the 1st quarter. Assenagon Asset Management S.A. now owns 467,419 shares of the company’s stock worth $98,892,000 after purchasing an additional 458,156 shares during the period. Millennium Management LLC boosted its position in shares of Gulfport Energy by 1,281.6% during the third quarter. Millennium Management LLC now owns 426,034 shares of the company’s stock valued at $77,104,000 after buying an additional 395,197 shares during the period. Ninepoint Partners LP purchased a new position in shares of Gulfport Energy during the fourth quarter valued at approximately $41,598,000. Victory Capital Management Inc. grew its stake in shares of Gulfport Energy by 50.3% during the fourth quarter. Victory Capital Management Inc. now owns 527,393 shares of the company’s stock valued at $109,692,000 after buying an additional 176,386 shares during the last quarter. Finally, Whitebox Advisors LLC grew its stake in shares of Gulfport Energy by 148.6% during the third quarter. Whitebox Advisors LLC now owns 274,627 shares of the company’s stock valued at $49,702,000 after buying an additional 164,178 shares during the last quarter.

About Gulfport Energy

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.