SummerHaven Investment Management LLC Acquires 4,981 Shares of Gulfport Energy Corporation $GPOR

SummerHaven Investment Management LLC acquired a new position in shares of Gulfport Energy Corporation (NYSE:GPOR) during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 4,981 shares of the company’s stock, valued at approximately $754,000.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Farther Finance Advisors LLC increased its stake in Gulfport Energy by 555.6% during the third quarter. Farther Finance Advisors LLC now owns 177 shares of the company’s stock valued at $27,000 after purchasing an additional 150 shares during the last quarter. Pinnacle Holdings LLC acquired a new stake in shares of Gulfport Energy during the second quarter worth $49,000. Allworth Financial LP raised its holdings in shares of Gulfport Energy by 159.3% during the second quarter. Allworth Financial LP now owns 350 shares of the company’s stock worth $59,000 after purchasing an additional 215 shares during the period. Integrated Wealth Concepts LLC bought a new position in shares of Gulfport Energy in the 2nd quarter worth about $59,000. Finally, GAMMA Investing LLC lifted its position in shares of Gulfport Energy by 127.7% in the 3rd quarter. GAMMA Investing LLC now owns 435 shares of the company’s stock worth $65,000 after buying an additional 244 shares during the last quarter.

Analyst Ratings Changes

Several research analysts have recently commented on the stock. Scotiabank began coverage on shares of Gulfport Energy in a report on Wednesday. They issued a “sector outperform” rating and a $217.00 price target for the company. Zacks Research raised shares of Gulfport Energy from a “strong sell” rating to a “hold” rating in a research report on Tuesday, September 8th. Pickering Energy Partners initiated coverage on shares of Gulfport Energy in a research note on Tuesday, September 22nd. They set an “outperform” rating on the stock. Stifel Nicolaus started coverage on shares of Gulfport Energy in a report on Wednesday, September 9th. They issued a “hold” rating and a $193.00 target price on the stock. Finally, Jefferies Financial Group cut shares of Gulfport Energy from a “buy” rating to a “hold” rating and cut their target price for the stock from $239.00 to $180.00 in a report on Friday, September 25th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Gulfport Energy has a consensus rating of “Hold” and an average price target of $210.20.

Gulfport Energy Stock Performance

GPOR opened at $166.22 on Friday. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 0.51. The business’s 50 day moving average is $167.95 and its 200-day moving average is $172.12. The stock has a market cap of $2.94 billion, a PE ratio of 6.65 and a beta of 0.56. Gulfport Energy Corporation has a twelve month low of $149.18 and a twelve month high of $225.78.

Gulfport Energy (NYSE:GPOR) last issued its quarterly earnings data on Monday, August 3rd. The company reported $4.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.82 by $1.03. Gulfport Energy had a return on equity of 21.87% and a net margin of 32.28%. The business had revenue of $323.23 million during the quarter. On average, analysts predict that Gulfport Energy Corporation will post 22.01 earnings per share for the current year.

Insider Transactions at Gulfport Energy

In other news, Director Timothy Cutt sold 2,500 shares of the firm’s stock in a transaction on Thursday, September 24th. The stock was sold at an average price of $158.98, for a total transaction of $397,450.00. Following the transaction, the director directly owned 27,013 shares of the company’s stock, valued at approximately $4,294,526.74. This trade represents a 8.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Matthew Willrath sold 325 shares of the firm’s stock in a transaction on Wednesday, September 2nd. The shares were sold at an average price of $182.69, for a total value of $59,374.25. Following the transaction, the chief accounting officer directly owned 2,130 shares in the company, valued at $389,129.70. This trade represents a 13.24% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 0.70% of the company’s stock.

Gulfport Energy Profile

Gulfport Energy Corporation (NYSE: GPOR) is an independent exploration and production company focused on developing and producing natural gas, natural gas liquids and oil. Its activities include acquiring, exploring, drilling and operating oil and gas properties.

The company’s operations are concentrated in the Appalachian Basin, particularly the Utica and Marcellus shale plays in eastern Ohio. Gulfport sells the hydrocarbons produced from its wells into regional energy markets and relies on gathering and transportation infrastructure to move production to market.

Gulfport Energy traces its history to the late 1990s and has evolved from a broader domestic oil and gas producer into a company primarily focused on natural gas development in the eastern United States.