Morgan Stanley Downgrades Gulfport Energy Corporation to Underweight

Brokerage firm Morgan Stanley Downgrades its rating on Gulfport Energy Corporation(GPOR). The shares have been rated Underweight. The rating by the stock financial advisor at Morgan Stanley was issued on Mar 28, 2017 in a research report to their Investors and Clients.

Gulfport Energy Corporation (GPOR) made into the market gainers list on Fridays trading session with the shares advancing 2.14% or 0.34 points. Due to strong positive momentum, the stock ended at $16.23, which is also near the day’s high of $16.375. The stock began the session at $16.01 and the volume stood at 27,06,760 shares. The 52-week high of the shares is $34.67 and the 52 week low is $15.66. The company has a current market capitalization of $2,880 M and it has 17,74,29,820 shares in outstanding.

Gulfport Energy Corporation(GPOR) last announced its earnings results on Feb 13, 2017 for Fiscal Year 2016 and Q4.Company reported revenue of $63.416M. Analysts had an estimated revenue of $197.710M. Earnings per share were $0.34. Analysts had estimated an EPS of $0.2.

Several Insider Transactions has been reported to the SEC. On Aug 24, 2016, Steve Baldwin (VP of Reservoir Engineering) sold 566 shares at $27.00 per share price.Also, On Jun 22, 2016, Stuart Maier (Vice President of Geosciences) sold 10,000 shares at $33.35 per share price.On Jun 17, 2016, Michael G Moore (President & CEO) sold 20,000 shares at $32.95 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.

Add Comment