SG Americas Securities LLC Trims Stake in Gulfport Energy Corporation $GPOR

SG Americas Securities LLC cut its position in shares of Gulfport Energy Corporation (NYSE:GPOR) by 37.6% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,811 shares of the company’s stock after selling 3,496 shares during the period. SG Americas Securities LLC’s holdings in Gulfport Energy were worth $1,169,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Jennison Associates LLC increased its stake in shares of Gulfport Energy by 49.3% during the second quarter. Jennison Associates LLC now owns 565,194 shares of the company’s stock valued at $113,700,000 after buying an additional 186,531 shares during the period. Canoe Financial LP purchased a new stake in shares of Gulfport Energy in the 2nd quarter worth approximately $13,257,000. Livforsakringsbolaget Skandia Omsesidigt boosted its stake in shares of Gulfport Energy by 337.6% during the second quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 61,700 shares of the company’s stock valued at $12,412,000 after purchasing an additional 47,600 shares in the last quarter. Stephens Investment Management Group LLC bought a new position in shares of Gulfport Energy during the second quarter valued at approximately $7,487,000. Finally, Congress Asset Management Co. purchased a new position in Gulfport Energy during the second quarter valued at approximately $6,905,000.

Insider Activity

In related news, Director Timothy J. Cutt sold 2,635 shares of the firm’s stock in a transaction on Tuesday, November 11th. The stock was sold at an average price of $210.45, for a total value of $554,535.75. Following the completion of the transaction, the director owned 35,473 shares in the company, valued at $7,465,292.85. This trade represents a 6.91% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director David D. Wolf sold 1,525 shares of the business’s stock in a transaction dated Tuesday, November 11th. The shares were sold at an average price of $210.27, for a total value of $320,661.75. Following the sale, the director owned 4,462 shares in the company, valued at approximately $938,224.74. The trade was a 25.47% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 4,760 shares of company stock valued at $978,140 over the last ninety days. 0.62% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Wall Street Zen upgraded Gulfport Energy from a “hold” rating to a “buy” rating in a report on Saturday. Evercore ISI upped their price objective on Gulfport Energy from $190.00 to $210.00 and gave the stock an “in-line” rating in a research note on Monday, November 10th. KeyCorp raised their price objective on Gulfport Energy from $205.00 to $230.00 and gave the company an “overweight” rating in a research report on Monday, November 10th. Jefferies Financial Group started coverage on shares of Gulfport Energy in a report on Thursday, October 23rd. They issued a “buy” rating and a $250.00 target price for the company. Finally, Zacks Research upgraded shares of Gulfport Energy from a “strong sell” rating to a “hold” rating in a report on Monday, November 10th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $221.25.

Gulfport Energy Stock Up 0.9%

GPOR opened at $205.26 on Friday. The firm has a market capitalization of $3.97 billion, a P/E ratio of -28.59 and a beta of 0.62. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 0.42. The firm’s 50-day moving average is $188.05. Gulfport Energy Corporation has a 52-week low of $153.27 and a 52-week high of $215.57.

Gulfport Energy (NYSE:GPOR) last released its earnings results on Tuesday, November 4th. The company reported $3.13 earnings per share for the quarter, missing the consensus estimate of $4.64 by ($1.51). Gulfport Energy had a positive return on equity of 18.89% and a negative net margin of 9.14%.The company had revenue of $379.75 million for the quarter, compared to analysts’ expectations of $343.18 million.

Gulfport Energy Company Profile

Gulfport Energy Corporation engages in the exploration, development, acquisition, production of natural gas, crude oil, and natural gas liquids (NGL) in the United States. Its principal properties include Utica Shale covering an area approximately 187,000 net reservoir acres primarily located in Eastern Ohio; and SCOOP covering an area approximately 74,000 net reservoir acres primarily located in Garvin, Grady, and Stephens.