Sterne Agee Recommends Buying Gulfport Energy on Weakness

In a report published Wednesday, Sterne Agee reiterated its Buy rating and $52.00 price target on Gulfport Energy Corporation GPOR. Sterne Agee noted, “Gulfport's operations update this morning contained in-line 4Q production data, but mixed news on the Utica. Shares may underperform on the headline data in the release, but we believe investors should focus on the reserve bookings figures and continued strong oil cuts from SW Harrison County as proof of the resource potential. Gulfport remains a compelling sum-of-the-parts story while it derisks its Utica position and we would be buyers on weakness.” Gulfport Energy Corporation closed on Tuesday at $42.27.