Jennison Associates LLC Boosts Position in Gulfport Energy Corporation $GPOR
by Teresa Graham · The Cerbat GemJennison Associates LLC boosted its position in shares of Gulfport Energy Corporation (NYSE:GPOR – Free Report) by 14.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 671,483 shares of the company’s stock after acquiring an additional 83,613 shares during the quarter. Jennison Associates LLC’s holdings in Gulfport Energy were worth $139,662,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of GPOR. Advisory Services Network LLC purchased a new stake in Gulfport Energy during the third quarter valued at $28,000. Financial Consulate Inc. purchased a new stake in Gulfport Energy during the third quarter valued at $31,000. Federated Hermes Inc. increased its position in Gulfport Energy by 133.7% during the third quarter. Federated Hermes Inc. now owns 222 shares of the company’s stock valued at $40,000 after acquiring an additional 127 shares during the last quarter. EverSource Wealth Advisors LLC increased its position in Gulfport Energy by 364.8% during the second quarter. EverSource Wealth Advisors LLC now owns 251 shares of the company’s stock valued at $50,000 after acquiring an additional 197 shares during the last quarter. Finally, State of Alaska Department of Revenue purchased a new stake in Gulfport Energy in the third quarter worth about $128,000.
Insider Activity
In related news, CFO Michael L. Hodges sold 16,769 shares of the stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $210.70, for a total transaction of $3,533,228.30. Following the completion of the sale, the chief financial officer owned 18,473 shares in the company, valued at approximately $3,892,261.10. This trade represents a 47.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Silver Point Capital L.P. sold 84,416 shares of the stock in a transaction that occurred on Tuesday, March 3rd. The shares were sold at an average price of $204.22, for a total value of $17,239,435.52. Following the transaction, the director directly owned 2,605,729 shares of the company’s stock, valued at approximately $532,141,976.38. The trade was a 3.14% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 876,258 shares of company stock valued at $179,141,707 in the last three months. 0.70% of the stock is currently owned by insiders.
Analysts Set New Price Targets
A number of brokerages have commented on GPOR. Weiss Ratings upgraded Gulfport Energy from a “hold (c)” rating to a “buy (b)” rating in a research report on Monday, March 2nd. UBS Group reduced their price target on Gulfport Energy from $260.00 to $245.00 and set a “buy” rating for the company in a research report on Thursday, April 16th. Wall Street Zen cut Gulfport Energy from a “buy” rating to a “hold” rating in a research report on Saturday, February 28th. Wolfe Research cut Gulfport Energy from an “outperform” rating to a “peer perform” rating in a research report on Monday, January 5th. Finally, Zacks Research upgraded Gulfport Energy from a “strong sell” rating to a “hold” rating in a research report on Wednesday, January 7th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and seven have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $230.00.
Read Our Latest Stock Report on GPOR
Gulfport Energy Stock Performance
NYSE:GPOR opened at $191.77 on Thursday. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 0.43. Gulfport Energy Corporation has a 12-month low of $160.95 and a 12-month high of $225.78. The stock has a 50-day moving average price of $201.11 and a 200 day moving average price of $199.58. The stock has a market capitalization of $3.46 billion, a P/E ratio of 9.45 and a beta of 0.59.
Gulfport Energy (NYSE:GPOR – Get Free Report) last released its earnings results on Tuesday, February 24th. The company reported $5.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.61 by ($0.01). Gulfport Energy had a return on equity of 21.85% and a net margin of 30.01%.The business had revenue of $398.19 million for the quarter, compared to analysts’ expectations of $373.24 million. Equities research analysts forecast that Gulfport Energy Corporation will post 25.68 EPS for the current fiscal year.
Gulfport Energy Company Profile
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.
Featured Stories
Want to see what other hedge funds are holding GPOR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Gulfport Energy Corporation (NYSE:GPOR – Free Report).