Pinnacle Associates Ltd. Makes New $1.27 Million Investment in Gulfport Energy Corporation $GPOR

Pinnacle Associates Ltd. bought a new position in shares of Gulfport Energy Corporation (NYSE:GPOR) during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund bought 8,449 shares of the company’s stock, valued at approximately $1,271,000.

Other institutional investors also recently made changes to their positions in the company. Keybank National Association OH increased its holdings in shares of Gulfport Energy by 1.2% in the 1st quarter. Keybank National Association OH now owns 5,881 shares of the company’s stock valued at $1,244,000 after purchasing an additional 67 shares in the last quarter. Central Pacific Bank Trust Division lifted its stake in shares of Gulfport Energy by 9.3% in the second quarter. Central Pacific Bank Trust Division now owns 940 shares of the company’s stock valued at $160,000 after purchasing an additional 80 shares during the period. Sequoia Financial Advisors LLC lifted its stake in shares of Gulfport Energy by 4.6% in the first quarter. Sequoia Financial Advisors LLC now owns 3,095 shares of the company’s stock valued at $655,000 after purchasing an additional 136 shares during the period. Farther Finance Advisors LLC lifted its stake in shares of Gulfport Energy by 555.6% in 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 period. Finally, Cetera Investment Advisers boosted its holdings in Gulfport Energy by 6.9% during the first quarter. Cetera Investment Advisers now owns 2,434 shares of the company’s stock worth $515,000 after buying an additional 157 shares in the last quarter.

Insiders Place Their Bets

In other Gulfport Energy news, CAO Matthew Willrath sold 325 shares of the company’s stock in a transaction dated Wednesday, September 2nd. The shares were sold at an average price of $182.69, for a total value of $59,374.25. Following the sale, the chief accounting officer owned 2,130 shares of the company’s stock, valued at $389,129.70. This represents a 13.24% 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, CEO Domenic J. Dell’osso, Jr. purchased 1,600 shares of the stock in a transaction dated Friday, August 7th. The stock was acquired at an average price of $160.61 per share, for a total transaction of $256,976.00. Following the completion of the transaction, the chief executive officer directly owned 24,349 shares of the company’s stock, valued at approximately $3,910,692.89. The trade was a 7.03% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 0.70% of the stock is currently owned by company insiders.

Gulfport Energy Trading Up 3.5%

NYSE:GPOR opened at $166.14 on Friday. The company has a market capitalization of $2.94 billion, a PE ratio of 6.65 and a beta of 0.56. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 0.51. Gulfport Energy Corporation has a 52-week low of $149.18 and a 52-week high of $225.78. The stock has a fifty day simple moving average of $167.15 and a 200-day simple moving average of $170.44.

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

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Pickering Energy Partners initiated coverage on shares of Gulfport Energy in a research report on Tuesday, September 22nd. They set an “outperform” rating on the stock. Scotiabank started coverage on shares of Gulfport Energy in a research report on Wednesday, October 14th. They set a “sector outperform” rating and a $217.00 price target for the company. UBS Group decreased their price target on Gulfport Energy from $223.00 to $218.00 and set a “buy” rating on the stock in a research note on Tuesday, October 6th. Stifel Nicolaus began coverage on Gulfport Energy in a report on Wednesday, September 9th. They issued a “hold” rating and a $193.00 price target on the stock. Finally, Jefferies Financial Group downgraded Gulfport Energy from a “buy” rating to a “hold” rating and dropped their price objective for the company from $239.00 to $180.00 in a research note on Friday, September 25th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Gulfport Energy has an average rating of “Hold” and a consensus price target of $210.20.

Gulfport Energy Profile

Gulfport Energy Corporation is an independent exploration and production company focused on developing natural gas and associated natural gas liquids. The company’s operations are concentrated primarily in the Utica Shale in eastern Ohio, where it drills, completes and produces unconventional oil and gas wells.

Gulfport’s product mix includes natural gas, natural gas liquids and condensate. Its activities include leasing and managing mineral acreage, operating horizontal wells and coordinating gathering, processing and transportation arrangements needed to deliver production to market.

Founded in 1997, Gulfport historically operated in several U.S.