Gulfport Energy (NYSE:GPOR) Hits New 52-Week Low – Here’s Why

Gulfport Energy Corporation (NYSE:GPOR)’s share price reached a new 52-week low during trading on Wednesday . The stock traded as low as $159.00 and last traded at $162.2370, with a volume of 11755 shares. The stock had previously closed at $161.52.

Analyst Upgrades and Downgrades

GPOR has been the topic of several recent research reports. UBS Group cut their price objective on shares of Gulfport Energy from $260.00 to $245.00 and set a “buy” rating on the stock in a research report on Thursday, April 16th. Truist Financial decreased their target price on shares of Gulfport Energy from $230.00 to $219.00 and set a “hold” rating for the company in a research report on Friday, May 8th. Weiss Ratings restated a “buy (b)” rating on shares of Gulfport Energy in a research note on Friday, May 29th. Mizuho raised Gulfport Energy from a “neutral” rating to an “outperform” rating and lifted their price target for the company from $251.00 to $252.00 in a report on Wednesday, May 27th. Finally, JPMorgan Chase & Co. boosted their price objective on Gulfport Energy from $228.00 to $229.00 and gave the stock an “overweight” rating in a research report on Monday, March 16th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $230.22.

Gulfport Energy Trading Up 0.1%

The firm has a market capitalization of $2.91 billion, a P/E ratio of 5.52 and a beta of 0.41. The business’s 50 day moving average is $177.85 and its two-hundred day moving average is $192.97. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 0.46.

Insider Buying and Selling

In other Gulfport Energy news, Director Jason Joseph Martinez sold 400 shares of the firm’s stock in a transaction dated Thursday, April 2nd. The shares were sold at an average price of $213.40, for a total transaction of $85,360.00. Following the transaction, the director owned 3,888 shares of the company’s stock, valued at approximately $829,699.20. This trade represents a 9.33% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.70% of the company’s stock.

Institutional Trading of Gulfport Energy

Institutional investors have recently made changes to their positions in the stock. Assenagon Asset Management S.A. increased its stake in shares of Gulfport Energy by 4,946.1% during the first quarter. Assenagon Asset Management S.A. now owns 467,419 shares of the company’s stock valued at $98,892,000 after acquiring an additional 458,156 shares during the period. Millennium Management LLC raised its holdings in Gulfport Energy by 1,281.6% during the third quarter. Millennium Management LLC now owns 426,034 shares of the company’s stock worth $77,104,000 after purchasing an additional 395,197 shares in the last quarter. Goldentree Asset Management LP acquired a new stake in Gulfport Energy in the third quarter worth approximately $44,665,000. Ninepoint Partners LP acquired a new stake in Gulfport Energy in the fourth quarter worth approximately $41,598,000. Finally, Victory Capital Management Inc. boosted its stake in Gulfport Energy by 50.3% during the 4th quarter. Victory Capital Management Inc. now owns 527,393 shares of the company’s stock valued at $109,692,000 after purchasing an additional 176,386 shares in the last quarter.

About Gulfport Energy

Gulfport Energy Corporation is an independent oil and gas exploration and production company based in Oklahoma City, Oklahoma. The company focuses on the development of onshore natural gas, natural gas liquids (NGLs) and crude oil properties in the United States. Gulfport utilizes horizontal drilling and multi-stage hydraulic fracturing techniques to maximize production and enhance recovery from its resource plays.

The company’s primary operations are concentrated in two major U.S. resource basins.