Gulfport Energy (NYSE:GPOR) Stock Breaks Below 50-Day Moving Average – Here’s What Happened

Gulfport Energy Corporation (NYSE:GPOR)’s stock price passed below its 50 day moving average during trading on Thursday. The stock has a 50 day moving average of $163.48 and traded as low as $162.49. Gulfport Energy shares last traded at $163.4050, with a volume of 392,769 shares trading hands.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on GPOR shares. Scotiabank initiated coverage on shares of Gulfport Energy in a report on Wednesday, October 14th. They issued a “sector outperform” rating and a $217.00 price objective on the stock. Zacks Research raised shares of Gulfport Energy from a “strong sell” rating to a “hold” rating in a research note on Tuesday, September 8th. Truist Financial lifted their price target on shares of Gulfport Energy from $186.00 to $192.00 and gave the company a “hold” rating in a research report on Friday, November 6th. Pickering Energy Partners assumed coverage on shares of Gulfport Energy in a research note on Tuesday, September 22nd. They issued an “outperform” rating on the stock. Finally, Mizuho set a $237.00 price target on shares of Gulfport Energy in a research note on Wednesday, October 7th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $208.38.

Gulfport Energy Trading Down 0.4%

The company has a fifty day simple moving average of $163.48 and a two-hundred day simple moving average of $177.63. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 0.57. The company has a market cap of $2.84 billion, a PE ratio of 6.28 and a beta of 0.57.

Insider Activity

In related news, CAO Matthew Willrath sold 325 shares of the firm’s stock in a transaction dated Wednesday, September 2nd. The stock was sold at an average price of $182.69, for a total transaction of $59,374.25. Following the transaction, the chief accounting officer owned 2,130 shares of the company’s stock, valued at $389,129.70. This trade represents a 13.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Timothy J. Cutt sold 2,500 shares of the business’s stock in a transaction dated Thursday, September 24th. The shares were sold at an average price of $158.98, for a total value of $397,450.00. Following the completion of the transaction, the director owned 27,013 shares in the company, valued at $4,294,526.74. This trade represents a 8.47% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.70% of the stock is currently owned by corporate insiders.

Institutional Trading of Gulfport Energy

A number of hedge funds have recently added to or reduced their stakes in the stock. Farther Finance Advisors LLC grew its position in Gulfport Energy by 555.6% in the 3rd quarter. Farther Finance Advisors LLC now owns 177 shares of the company’s stock valued at $27,000 after buying an additional 150 shares during the last quarter. Salomon & Ludwin LLC acquired a new position in Gulfport Energy in the 3rd quarter valued at $28,000. Pinnacle Holdings LLC acquired a new position in Gulfport Energy in the 2nd quarter valued at $49,000. Pinnacle Wealth Planning Services Inc. raised its position in Gulfport Energy by 802.8% during the 3rd quarter. Pinnacle Wealth Planning Services Inc. now owns 325 shares of the company’s stock worth $49,000 after buying an additional 289 shares during the last quarter. Finally, Integrated Wealth Concepts LLC purchased a new position in Gulfport Energy during the 2nd quarter worth $59,000.

About Gulfport Energy

Gulfport Energy Corporation is an independent exploration and production company focused on finding and developing oil and natural gas resources. Its operations are concentrated in the Utica Shale in Ohio and the SCOOP resource area in Oklahoma. The company produces natural gas, natural gas liquids and crude oil. Gulfport emerged from a Chapter 11 restructuring in 2021 and is headquartered in Oklahoma City.