Gulfport Energy (NYSE:GPOR) Shares Break Above 50 Day Moving Average – Here’s Why

Gulfport Energy Corporation (NYSE:GPOR)’s share price passed above its fifty day moving average during trading on Tuesday. The stock has a fifty day moving average of $166.88 and traded as high as $169.51. Gulfport Energy shares last traded at $169.3730, with a volume of 297,701 shares.

Wall Street Analysts Forecast Growth

Several analysts recently commented on GPOR shares. Mizuho set a $237.00 target price on Gulfport Energy in a report on Wednesday, October 7th. Weiss Ratings lowered shares of Gulfport Energy from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday, August 21st. Scotiabank initiated coverage on shares of Gulfport Energy in a report on Wednesday, October 14th. They set a “sector outperform” rating and a $217.00 price target for the company. Pickering Energy Partners assumed coverage on shares of Gulfport Energy in a research report on Tuesday, September 22nd. They issued an “outperform” rating on the stock. Finally, JPMorgan Chase & Co. restated an “underweight” rating and issued a $194.00 price target (down from $240.00) on shares of Gulfport Energy in a research report on Tuesday, September 8th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $210.20.

Gulfport Energy Trading Up 2.1%

The stock has a fifty day simple moving average of $166.88 and a two-hundred day simple moving average of $178.99.

Gulfport Energy (NYSE:GPOR) last announced its quarterly earnings data on Monday, August 3rd. The company reported $4.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.82 by $1.03. The business had revenue of $323.23 million during the quarter. Sell-side analysts predict that Gulfport Energy Corporation will post 22.01 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Domenic Dell’osso, Jr. acquired 1,600 shares of the stock in a transaction dated Friday, August 7th. The stock was bought at an average price of $160.61 per share, for a total transaction of $256,976.00. Following the purchase, the chief executive officer directly owned 24,349 shares of the company’s stock, valued at $3,910,692.89. The trade was a 7.03% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Timothy Cutt sold 2,500 shares of the business’s stock in a transaction on Thursday, September 24th. The shares were sold at an average price of $158.98, for a total transaction of $397,450.00. Following the transaction, the director owned 27,013 shares in the company, valued at $4,294,526.74. The trade was 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 insiders.

Institutional Investors Weigh In On Gulfport Energy

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. BOKF NA grew its stake in shares of Gulfport Energy by 11.4% in the 3rd quarter. BOKF NA now owns 2,427 shares of the company’s stock valued at $365,000 after buying an additional 248 shares during the period. Pinnacle Wealth Planning Services Inc. increased its position in Gulfport Energy by 802.8% in the 3rd quarter. Pinnacle Wealth Planning Services Inc. now owns 325 shares of the company’s stock valued at $49,000 after buying an additional 289 shares in the last quarter. Miller Howard Investments Inc. NY increased its position in Gulfport Energy by 1.8% in the 3rd quarter. Miller Howard Investments Inc. NY now owns 21,636 shares of the company’s stock valued at $3,256,000 after buying an additional 374 shares in the last quarter. Signaturefd LLC raised its stake in Gulfport Energy by 214.3% during the 3rd quarter. Signaturefd LLC now owns 682 shares of the company’s stock worth $103,000 after buying an additional 465 shares during the period. Finally, Sterling Capital Management LLC raised its stake in Gulfport Energy by 7.8% during the 3rd quarter. Sterling Capital Management LLC now owns 3,669 shares of the company’s stock worth $552,000 after buying an additional 265 shares during the period.

About Gulfport Energy

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.