Gulfport Energy Corporation (GPOR) is Resumed by Piper Jaffray to Overweight, Price Target at $40

Gulfport Energy Corporation (GPOR) was Resumed by Piper Jaffray to “Overweight” and the brokerage firm has set the Price Target at $40. Piper Jaffray advised their investors in a research report released on Jul 8, 2016.

Many Wall Street Analysts have commented on Gulfport Energy Corporation. Company shares were Reiterated by Wunderlich on Jun 27, 2016 to “Buy”, Firm has raised the Price Target to $ 40 from a previous price target of $35 .Gulfport Energy Corporation was Downgraded by KLR Group to ” Accumulate” on Jun 13, 2016. Company shares were Reiterated by Scotia Howard Weil on May 6, 2016 to “Sector Outperform”, Firm has raised the Price Target to $ 34 from a previous price target of $33 .

On the company’s financial health, Gulfport Energy Corporation reported $0.14 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on May 4, 2016. Analyst had a consensus of $0.11. The company had revenue of $156.96 million for the quarter, compared to analysts expectations of $170.68 million. The company’s revenue was down -11.0 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $-0.08 EPS.

Gulfport Energy Corporation closed down -1.23 points or -3.89% at $30.43 with 19,73,877 shares getting traded on Tuesday. Post opening the session at $31.05, the shares hit an intraday low of $29.67 and an intraday high of $31.18 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

In a different news, on Jun 22, 2016, Stuart Maier (Vice President of Geosciences) sold 10,000 shares at $33.35 per share price. According to the SEC, on Jun 17, 2016, Michael G Moore (President & CEO) sold 20,000 shares at $32.95 per share price. On Jun 9, 2016, Steve Baldwin (VP of Reservoir Engineering) sold 10,000 shares at $32.00 per share price, according to the Form-4 filing with the securities and exchange commission.

Gulfport Energy Corporation (Gulfport) is an independent oil and natural gas exploration and production company focused on the exploration exploitation acquisition and production of crude oil natural gas liquids and natural gas in the United States. It has developed an oil and natural gas portfolio of proved reserves as well as development and exploratory drilling opportunities on conventional and unconventional oil and natural gas prospects. The Company’s principal properties are located in the Utica Shale primarily in Eastern Ohio and along the Louisiana Gulf Coast in the West Cote Blanche Bay (WCBB) and Hackberry fields. In addition the Company has producing properties in the Niobrara Formation of Northwestern Colorado and the Bakken Formation. It also holds an acreage position in the Alberta oil sands in Canada through its interest in Grizzly Oil Sands ULC (Grizzly) and interests in entities that operate in Southeast Asia including the Phu Horm gas field in Thailand.

Gulfport Energy Corporation

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