Gulfport Energy Corporation $GPOR Shares Sold by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA reduced its stake in shares of Gulfport Energy Corporation (NYSE:GPOR) by 9.4% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 149,652 shares of the company’s stock after selling 15,605 shares during the period. Pictet Asset Management Holding SA owned approximately 0.83% of Gulfport Energy worth $31,662,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in GPOR. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Gulfport Energy by 2.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,552 shares of the company’s stock valued at $1,391,000 after purchasing an additional 181 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Gulfport Energy by 14.8% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 95,749 shares of the company’s stock worth $17,631,000 after buying an additional 12,327 shares during the period. Intech Investment Management LLC grew its position in Gulfport Energy by 11.6% during the first quarter. Intech Investment Management LLC now owns 6,400 shares of the company’s stock worth $1,178,000 after buying an additional 665 shares during the period. Cetera Investment Advisers increased its holdings in Gulfport Energy by 16.7% in the second quarter. Cetera Investment Advisers now owns 1,532 shares of the company’s stock valued at $308,000 after buying an additional 219 shares in the last quarter. Finally, Prudential Financial Inc. purchased a new position in Gulfport Energy in the second quarter valued at about $400,000.

Insider Activity

In related news, Director Jason Joseph Martinez sold 400 shares of the company’s stock in a transaction that occurred on Thursday, April 2nd. The stock was sold at an average price of $213.40, for a total value of $85,360.00. Following the sale, the director owned 3,888 shares of the company’s stock, valued at approximately $829,699.20. This represents a 9.33% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.70% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on GPOR. Weiss Ratings lowered Gulfport Energy from a “buy (b)” rating to a “buy (b-)” rating in a research note on Friday. JPMorgan Chase & Co. raised their price objective on Gulfport Energy from $228.00 to $229.00 and gave the company an “overweight” rating in a research note on Monday, March 16th. Bank of America lifted their price objective on Gulfport Energy from $215.00 to $237.00 and gave the stock a “buy” rating in a report on Thursday, March 19th. Mizuho upgraded Gulfport Energy from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $251.00 to $252.00 in a research report on Wednesday, May 27th. Finally, Truist Financial lowered their target price on Gulfport Energy from $230.00 to $219.00 and set a “hold” rating on the stock in a report on Friday, May 8th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, Gulfport Energy has a consensus rating of “Moderate Buy” and a consensus price target of $230.22.

Gulfport Energy Stock Performance

Shares of GPOR opened at $169.82 on Wednesday. Gulfport Energy Corporation has a 12-month low of $158.91 and a 12-month high of $225.78. The stock has a market cap of $3.05 billion, a P/E ratio of 5.80 and a beta of 0.41. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 0.46. The company has a 50-day moving average of $174.90 and a two-hundred day moving average of $191.28.

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.