Wedge Capital Management L L P NC raised its stake in Gulfport Energy Co. (NASDAQ:GPOR) by 0.6% during the first quarter, Holdings Channel reports. The institutional investor owned 757,200 shares of the oil and gas producer’s stock after buying an additional 4,762 shares during the period. Wedge Capital Management L L P NC owned 0.48% of Gulfport Energy worth $13,016,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also modified their holdings of the company. Marshall Wace LLP acquired a new position in shares of Gulfport Energy during the fourth quarter valued at approximately $54,341,000. Norges Bank acquired a new position in shares of Gulfport Energy during the fourth quarter valued at approximately $25,441,000. Alyeska Investment Group L.P. acquired a new position in shares of Gulfport Energy during the fourth quarter valued at approximately $25,329,000. Cobalt Capital Management Inc. increased its position in shares of Gulfport Energy by 228.8% in the third quarter. Cobalt Capital Management Inc. now owns 1,512,936 shares of the oil and gas producer’s stock valued at $42,740,000 after buying an additional 1,052,835 shares in the last quarter. Finally, Zimmer Partners LP increased its position in shares of Gulfport Energy by 700.0% in the fourth quarter. Zimmer Partners LP now owns 1,000,000 shares of the oil and gas producer’s stock valued at $21,640,000 after buying an additional 875,000 shares in the last quarter. 85.13% of the stock is currently owned by institutional investors.
Shares of Gulfport Energy Co. (NASDAQ:GPOR) traded up 4.32% during trading on Friday, hitting $15.69. The stock had a trading volume of 4,579,738 shares. Gulfport Energy Co. has a one year low of $14.77 and a one year high of $34.67. The stock’s market capitalization is $2.49 billion. The stock has a 50 day moving average price of $16.42 and a 200-day moving average price of $20.86.
Gulfport Energy (NASDAQ:GPOR) last announced its earnings results on Monday, February 13th. The oil and gas producer reported $0.34 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.22 by $0.12. The company had revenue of $202.70 million for the quarter, compared to analyst estimates of $197.91 million. The firm’s quarterly revenue was down 66.7% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.01) earnings per share. On average, equities research analysts predict that Gulfport Energy Co. will post $1.04 earnings per share for the current year.
GPOR has been the topic of several recent analyst reports. Zacks Investment Research raised Gulfport Energy from a “hold” rating to a “buy” rating and set a $23.00 price target on the stock in a research report on Tuesday, January 17th. Scotiabank restated a “buy” rating and set a $29.00 price objective on shares of Gulfport Energy in a research report on Monday, March 27th. Deutsche Bank AG lowered their price objective on Gulfport Energy from $27.00 to $24.00 and set a “hold” rating on the stock in a research report on Tuesday, March 7th. Williams Capital restated a “buy” rating on shares of Gulfport Energy in a research report on Thursday, March 23rd. Finally, Goldman Sachs Group Inc cut Gulfport Energy from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $31.00 to $21.00 in a research report on Wednesday, March 22nd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and twenty-two have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $30.17.
Gulfport Energy Company Profile
Gulfport Energy Corporation is an oil and natural gas exploration and production company. The Company focuses on the exploitation and acquisition of natural gas, natural gas liquids and crude oil in the United States. The Company’s properties are located in the Utica Shale in Eastern Ohio and along the Louisiana Gulf Coast in the West Cote Blanche Bay (WCBB) and Hackberry fields.
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