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UPDATE: RBC Capital Markets Downgrades Gulfport Energy


In a report published Tuesday, RBC Capital Markets analyst Brad Heffern downgraded Gulfport Energy (NASDAQ: GPOR) from Outperform to Sector Perform, dropping its price target from $64.00 to $61.00.

According to the report, GPOR announced a YE13 production exit rate of 27,780 Boepd, towards the low end of guidance of 27,000-32,000 Boepd. 4Q13 production was 18% below GPOR's revised guidance. 1Q14 production guidance was 33% below expectations.

“GPOR indicated that 4Q13 production was 1.5 million Boe (~16,300 Boepd), around 18% below GPOR's guidance and 13% below our expectations,” the report said. “This reduces our 4Q13 CFPS by 11% to $0.72. GPOR announced that its YE13 exit rate was 27,780 Boepd, towards the low end of guidance of 27,000-32,000 Boepd. We would note that guidance was previously revised down from 38,000-42,000 Boepd in October 2013.”

Following updated guidance, estimates on 2014/2015 production are being reduced by 15 percent/2 percent.

GPOR closed Monday at $56.07 with shares trading down at 5.30 percent

Latest Ratings for GPOR

Aug 2020Morgan StanleyMaintainsUnderweight
Aug 2020Piper SandlerMaintainsUnderweight
May 2020Imperial CapitalMaintainsOutperform

View More Analyst Ratings for GPOR
View the Latest Analyst Ratings


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