In a report released today, Tim Rezvan from Oppenheimer downgraded Gulfport Energy Corp (GPOR) to Hold. The company’s shares closed yesterday at $7.75.
Rezvan observed:
“We expect ~$200M of FCF in both ’19 and ’20 (ex-buybacks), and we see a narrow range for earnings because swaps cover virtually all of 2019E natural gas production. However, these swaps limit 2019 earnings upside if natural gas prices improve. We see no earnings growth from 2018 to 2020, with EBITDA in the $925-$950M range. Weakness in TUSK shares (-17% since 4Q earnings) mutes the impact that selling 9.8 million shares has on debt reduction or share repurchases. Even with GPOR shares at $7.75 ($1 above their ten-year low), we struggle to find value. Amid a lack of deleveraging or earnings/production growth, we expect GPOR to remain range- bound unless a medium-term growth strategy emerges or natural gas prices rally.”
According to TipRanks.com, Rezvan is a 3-star analyst with an average return of 1.1% and a 48.0% success rate. Rezvan covers the Basic Materials sector, focusing on stocks such as Whiting Petroleum Corp, Occidental Petroleum, and Par Pacific Holdings.
The word on The Street in general, suggests a Hold analyst consensus rating for Gulfport Energy Corp with a $10.33 average price target.
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Based on Gulfport Energy Corp’s latest earnings release for the quarter ending December 31, the company reported a quarterly net profit of $134 million. In comparison, last year the company had a net profit of $90.09 million.
Based on the recent corporate insider activity of 29 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of GPOR in relation to earlier this year.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Gulfport Energy Corp. is an independent oil natural gas exploration and production company. The company focuses on the exploration, exploitation, acquisition and production of natural gas, natural gas liquids, and crude oil in the United States. Its principal producing properties located along the Louisiana Gulf Coast.
