Wedge Capital Management L L P NC lowered its holdings in Gulfport Energy Co. (NASDAQ:GPOR) by 92.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 37,465 shares of the oil and gas producer’s stock after selling 472,884 shares during the period. Wedge Capital Management L L P NC’s holdings in Gulfport Energy were worth $102,000 as of its most recent SEC filing.
A number of other hedge funds have also bought and sold shares of the business. Coastal Capital Group Inc. bought a new stake in shares of Gulfport Energy in the second quarter valued at $34,000. Meeder Asset Management Inc. raised its stake in shares of Gulfport Energy by 474.1% during the 3rd quarter. Meeder Asset Management Inc. now owns 13,060 shares of the oil and gas producer’s stock valued at $34,000 after purchasing an additional 10,785 shares during the period. Virginia Retirement Systems ET AL bought a new position in Gulfport Energy in the 3rd quarter worth about $38,000. Enterprise Bank & Trust Co bought a new position in Gulfport Energy in the 3rd quarter worth about $41,000. Finally, Magnus Financial Group LLC bought a new position in Gulfport Energy in the 2nd quarter worth about $57,000. 99.41% of the stock is currently owned by institutional investors and hedge funds.
In other Gulfport Energy news, CEO David M. Wood purchased 40,000 shares of the firm’s stock in a transaction on Friday, August 30th. The stock was bought at an average price of $2.44 per share, with a total value of $97,600.00. Following the transaction, the chief executive officer now directly owns 1,005,449 shares of the company’s stock, valued at approximately $2,453,295.56. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Quentin R. Hicks purchased 15,000 shares of the firm’s stock in a transaction on Friday, August 30th. The stock was acquired at an average cost of $2.38 per share, with a total value of $35,700.00. Following the transaction, the chief financial officer now directly owns 15,000 shares in the company, valued at $35,700. The disclosure for this purchase can be found here. 0.45% of the stock is owned by company insiders.
Shares of GPOR stock traded up $0.03 during trading hours on Friday, reaching $3.55. 2,540,600 shares of the company’s stock were exchanged, compared to its average volume of 4,327,976. The stock’s 50 day moving average is $2.87 and its 200-day moving average is $4.16. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.61. Gulfport Energy Co. has a fifty-two week low of $2.28 and a fifty-two week high of $10.09. The company has a market cap of $570.45 million, a price-to-earnings ratio of 1.94, a P/E/G ratio of 0.17 and a beta of 0.90.
Gulfport Energy (NASDAQ:GPOR) last issued its quarterly earnings results on Thursday, October 31st. The oil and gas producer reported $0.24 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.22 by $0.02. The firm had revenue of $285.18 million for the quarter, compared to analyst estimates of $335.10 million. Gulfport Energy had a net margin of 25.83% and a return on equity of 5.88%. Gulfport Energy’s quarterly revenue was down 21.0% compared to the same quarter last year. During the same period last year, the company posted $0.49 EPS. Equities analysts anticipate that Gulfport Energy Co. will post 1.01 EPS for the current year.
GPOR has been the subject of a number of research reports. ValuEngine upgraded Gulfport Energy from a “strong sell” rating to a “sell” rating in a report on Wednesday, October 2nd. Piper Jaffray Companies set a $7.00 price objective on Gulfport Energy and gave the stock a “buy” rating in a report on Friday, August 16th. Wells Fargo & Co increased their target price on Gulfport Energy from $5.00 to $6.00 and gave the stock a “market perform” rating in a research report on Friday, September 20th. BidaskClub raised Gulfport Energy from a “strong sell” rating to a “sell” rating in a research report on Saturday, October 12th. Finally, Imperial Capital reduced their price objective on Gulfport Energy from $11.00 to $5.00 and set an “outperform” rating for the company in a research report on Friday, October 18th. Five analysts have rated the stock with a sell rating, eleven have assigned a hold rating and four have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $7.64.
Gulfport Energy Profile
Gulfport Energy Corporation engages in the acquisition, exploration, exploitation, and production of natural gas, crude oil, and natural gas liquids (NGLs) in North America. Its principal properties include Utica Shale covering an area of approximately 241,000 gross acres primarily in Eastern Ohio; and SCOOP that comprise leasehold interests in approximately 66,000 gross surface acres located in Oklahoma.
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