Good day everyone,
Earnings on deck in the next 7 days or so.
We are continuing coverage on Gulfport Energy Corporation (NASDAQ: GPOR), a company engaged in the production of natural gas, crude oil, and natural gas liquids.
GPOR shares showed a little traction yesterday, showing 8% gains at midday and that’s good news. Should the shares cross their 50 DMA of $2.80 we could see a nice continuation.
Natural gas represented 93% of the GPOR Q3 production and they produced 12% more NG than they produced in the same quarter in 2018. For the first 9 months of the year, NG production gained 5% over the same period in 2018. Gulfport is one of the largest suppliers of natural gas in the USA with annual revenues over $1 billion.
Natural gas prices have declined by almost 30% this year and a company in the business of producing this commodity should likely see it fortunes decline accordingly. Companies like Conoco Phillips, Exxon and Devon Energy have seen their shares drop 30-60% this year.
Yet Gulfport shares have dropped from $9.00 to today’s current level in a year of increased production. The question is not “should GPOR shares have declined”, of course they should have, just like their peers. The question is “have GPOR shares dropped too far”. We believe they may have.
The fact that GPOR has a book value almost nine times the current price is the big tell that GPOR shares may be oversold.
Sixteen Wall Street analysts have issued price targets for Gulfport Energy in the last 12 months. Their average price target is $8.95, suggesting that the stock has a possible upside of 246.83%.
Compare GPOR shares to the shares of their peers and you may reach the same conclusion we have.
The Traders News Group
original report below
This One Lit Up Our Value Radar
The book value is 8.75X the current price
Insiders, institutions and the company are all buying shares
Good day everyone,
We are initiating coverage on Gulfport Energy Corporation (NASDAQ: GPOR), a company engaged in the production of natural gas, crude oil, and natural gas liquids.
GPOR is one of the largest producers of natural gas in the contiguous United States. They hold significant acreage positions in the Utica Shale of Eastern Ohio and the SCOOP Woodford and SCOOP Springer plays in Oklahoma. In addition, Gulfport holds an approximately 22% equity interest in Mammoth Energy Services, Inc. and has a position in the Alberta Oil Sands in Canada through its 25% interest in Grizzly Oil Sands ULC.
Statistics:
Current price $2.58 per share
Book value $22.63 per share
Revenues $1.4 billion
P/E trailing .82
Growth in the top line and bottom line four years running
GPOR has a FYE of December 31st and they are scheduled for a Q3 earnings release on or about October 31, 2019. We don’t know what the financial results will be, but the company has released Q3 production results already and production is UP across all its verticals.
52-week range is $2.28 to $10.45 (currently trading at 76.7% off the 52-week high).
Petroleum and gas prices are soft, but they have been lower. The investment community will often run away from producers of these products during periods of weak pricing, lowering the price of the stock. In the case of GPOR the stock price has fallen further, much further, than the commodity pricing should indicate. Here’s what those in the know are doing:
Insiders have purchased 65,000 shares in 2019. There have been no recorded sales by insiders in 2019.
Institutional Ownership Percentage: 97.52% and are still buying.
The company itself has repurchased several thousand shares.
Sixteen Wall Street analysts have issued price targets for Gulfport Energy in the last 12 months. Their average price target is $8.95, suggesting that the stock has a possible upside of 246.83%.
As the chart below indicates, GPOR shares are trading below their 50 DMA and 200 DMA of $2.81 and $5.57 respectively, with a current RSI (14) of 43.46. These data indicate GPOR shares may be oversold.
Do your due diligence and see if you agree that GPOR shares could represent a value opportunity.
Updates on GPOR will be issued soon.
The Traders News Group
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