Gulfport Energy's Zitkus Sells 4,745 Shares for Approximately $881,087
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 1h ago
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Source: Fool
- Insider Selling: Gulfport Energy's senior vice president Lester Zitkus sold 4,745 shares on January 7 through multiple open-market transactions for approximately $881,087, resulting in a 37.76% reduction in his direct holdings.
- Post-Transaction Holdings: After the sale, Zitkus retains 7,821 shares valued at about $1.45 million based on the January 7 market close, indicating he still holds a significant stake in the company.
- Transaction Size Analysis: The 4,745 shares sold exceed Zitkus's recent median sale size of 3,329 shares, suggesting a slightly larger than typical disposition that may reflect a cautious market outlook.
- Company Financial Health: Despite the insider sale, Gulfport Energy's latest quarterly report reveals strong cash generation with a net income of $111.4 million in Q3, and management reiterated plans to repurchase approximately $325 million in equity, demonstrating robust capital management strategies.
Analyst Views on GPOR
Wall Street analysts forecast GPOR stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for GPOR is 220.50 USD with a low forecast of 199.00 USD and a high forecast of 260.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
10 Analyst Rating
7 Buy
3 Hold
0 Sell
Moderate Buy
Current: 177.120
Low
199.00
Averages
220.50
High
260.00
Current: 177.120
Low
199.00
Averages
220.50
High
260.00
About GPOR
Gulfport Energy Corporation is an independent natural gas-weighted exploration and production company. It is focused on the exploration, acquisition and production of natural gas, crude oil, and natural gas liquid (NGL) in the United States, with primary focus on the Appalachia and Anadarko basins. Its principal properties are located in eastern Ohio, targeting the Utica and Marcellus formations and in central Oklahoma targeting the SCOOP Woodford and SCOOP Springer formations. The Utica covers hydrocarbon-bearing rock formations located in the Appalachian Basin of the United States and Canada. It has about 208,000 net reservoir acres located primarily in Belmont, Harrison, Jefferson and Monroe Counties in eastern Ohio, where the Utica ranges in thickness from 600 to over 750 feet. The SCOOP play mainly targets the Devonian to Mississippian aged Woodford, Sycamore and Springer formations. It has about 73,000 net reservoir acres, located primarily in Garvin, Grady and Stephens Counties.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
