On December 1, 2023, Silver Point Capital L.P., a director of Gulfport Energy Corporation (NYSE: GPOR), executed a significant stock sale, unloading 244,489 shares at an average price of $219.56. The total proceeds from this transaction amounted to $53,680,004.84. Following this sale, Silver Point Capital L.P. retains a total of 3,495,431 shares, which are now valued at approximately $767,456,830.36, reflecting a 6.54% reduction in their ownership stake.
The transaction was reported to the Securities and Exchange Commission and is available for public viewing. Just a day later, on December 2, Silver Point Capital L.P. sold an additional 45,546 shares of Gulfport Energy stock, generating $10,000,079.76 at the same average price of $219.56.
Stock Performance and Market Position
In the wake of these transactions, shares of Gulfport Energy experienced a modest uptick, rising 2.3% during mid-day trading on December 3, with the stock reaching $217.50. A total of 307,088 shares changed hands, surpassing the company’s average trading volume of 258,424.
Gulfport Energy boasts a market capitalization of $4.20 billion and has a debt-to-equity ratio of 0.39. The company’s stock has fluctuated within a 12-month range, hitting a low of $153.27 and a high of $225.78. Currently, the stock shows a price-to-earnings (P/E) ratio of -114.47 and a beta of 0.60, indicating lower volatility compared to the broader market.
Analyst Ratings and Investor Sentiment
Recent analyst evaluations reflect a mixed outlook for Gulfport Energy. UBS Group downgraded its price target from $240.00 to $227.00, maintaining a “buy” rating in a report released on August 20, 2023. Conversely, Roth Capital initiated coverage and assigned a “neutral” rating with a price target of $200.00.
Notably, KeyCorp raised its price target from $205.00 to $230.00, designating the stock as “overweight.” Meanwhile, Mizuho adjusted its target down to $199.00, emphasizing a “neutral” rating. Overall, one analyst has classified the stock with a “Strong Buy” rating, while six have given it a “Buy” rating and another six have issued a “Hold” rating. According to data from MarketBeat, Gulfport Energy currently holds a consensus rating of “Moderate Buy” with an average target price of $221.25.
Institutional investors have also been active in Gulfport Energy’s stock. Polymer Capital Management US LLC increased its holdings by 3.8% during the third quarter, now owning 2,193 shares valued at $397,000. Similarly, SummerHaven Investment Management LLC raised its stake by 1.6%, resulting in ownership of 5,145 shares worth approximately $1,035,000. Other notable increases in stake include Rafferty Asset Management LLC and Empirical Financial Services LLC, demonstrating a growing interest among institutional investors in the energy sector.
Gulfport Energy Corporation focuses on the exploration, development, acquisition, and production of natural gas, crude oil, and natural gas liquids in the United States. Its primary assets are located in the Utica Shale in Eastern Ohio and the SCOOP area in Oklahoma, comprising approximately 187,000 and 74,000 net reservoir acres, respectively.
As markets continue to evolve, the recent stock activity and analyst insights suggest a dynamic landscape for Gulfport Energy that investors will be keen to monitor closely.
