Assenagon Asset Management S.A. Reduces Stake in Gulfport Energy Corporation $GPOR

Assenagon Asset Management S.A. cut its stake in shares of Gulfport Energy Corporation (NYSE:GPOR) by 85.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,263 shares of the company’s stock after selling 52,958 shares during the period. Assenagon Asset Management S.A.’s holdings in Gulfport Energy were worth $1,927,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of GPOR. IFP Advisors Inc increased its position in shares of Gulfport Energy by 20,951.9% during the 3rd quarter. IFP Advisors Inc now owns 10,947 shares of the company’s stock valued at $1,981,000 after purchasing an additional 10,895 shares during the last quarter. Coastal Bridge Advisors LLC bought a new stake in Gulfport Energy in the third quarter worth $1,837,000. Victory Capital Management Inc. lifted its position in Gulfport Energy by 67.9% in the third quarter. Victory Capital Management Inc. now owns 351,007 shares of the company’s stock worth $63,525,000 after buying an additional 142,002 shares during the last quarter. Lighthouse Investment Partners LLC purchased a new position in Gulfport Energy during the third quarter worth $13,574,000. Finally, Stephens Investment Management Group LLC increased its position in Gulfport Energy by 29.0% during the third quarter. Stephens Investment Management Group LLC now owns 48,001 shares of the company’s stock valued at $8,687,000 after acquiring an additional 10,786 shares during the last quarter.

Gulfport Energy Stock Down 0.7%

NYSE:GPOR opened at $214.94 on Tuesday. The company has a market cap of $3.99 billion, a price-to-earnings ratio of 10.57 and a beta of 0.61. Gulfport Energy Corporation has a twelve month low of $153.27 and a twelve month high of $225.78. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 0.43. The stock has a fifty day simple moving average of $202.23 and a 200-day simple moving average of $196.92.

Gulfport Energy (NYSE:GPOR) last posted its quarterly earnings results on Tuesday, February 24th. The company reported $5.60 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 company had revenue of $398.19 million during the quarter, compared to analysts’ expectations of $373.24 million.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. Bank of America increased their target price on shares of Gulfport Energy from $215.00 to $237.00 and gave the company a “buy” rating in a research note on Thursday, March 19th. UBS Group lifted their price target on shares of Gulfport Energy from $264.00 to $267.00 and gave the stock a “buy” rating in a research note on Thursday, March 5th. Tudor Pickering lowered shares of Gulfport Energy from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 1st. Truist Financial initiated coverage on shares of Gulfport Energy in a research note on Tuesday, March 24th. They issued a “hold” rating and a $230.00 price objective for the company. Finally, Wolfe Research lowered Gulfport Energy from an “outperform” rating to a “peer perform” rating in a research report on Monday, January 5th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $228.90.

Insiders Place Their Bets

In other Gulfport Energy news, CFO Michael L. Hodges sold 16,769 shares of the company’s stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $210.70, for a total value of $3,533,228.30. Following the transaction, the chief financial officer directly owned 18,473 shares in the company, valued at $3,892,261.10. This represents a 47.58% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Timothy J. Cutt sold 5,000 shares of the firm’s stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $208.73, for a total value of $1,043,650.00. Following the transaction, the director owned 26,255 shares in the company, valued at $5,480,206.15. The trade was a 16.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 891,335 shares of company stock worth $181,940,144. 0.33% of the stock is owned by company insiders.

Gulfport Energy 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.