Skip to main content

Market Overview

FBR Upgrades Gulfport Energy On Attractive Entry Point, 'Dry Gas Setup'


Shares of Gulfport Energy Corporation (NASDAQ: GPOR) were surging on Friday. FBR & Co. upgraded the stock to Outperform from Market Perform, while boosting its price target from $50 to $55.

The promotion is based on three main reasons:

1) Since April 16, the stock is down more than 15 percent. This compares to the 11.8 percent decline in the SPDR S&P Oil & Gas Explore & Prod. (ETF) (NYSE: XOP), and has opened an attractive entry point for investors.

2) The are several “visible asset catalysts that should materialize this summer.” Gulfport is expected to share results of the Darla pad around mid-year. This “should shed light on downspacing as well as other technical factors.”

In addition, the analysts anticipate the company will reveal a type curve for its dry gas Utica acreage by late summer or early fall. “Transparency provided by these announcements should shed light on the long-term value of the dry gas Utica position as well as demonstrate lower reinvestment risk,” the experts explain.

3) There’s potential for the company to exceed 2015 and 2016 consensus production guidance and estimates.

According to the note, “The past several quarters of strong execution give us [the analysts] confidence that GPOR's Utica operations are at an inflection point, while the company's strong balance sheet can facilitate peer-leading production growth.”

“Continued execution on the company's growth strategy should also drive valuation multiple expansion, in our opinion,” the analysts conclude.

Latest Ratings for GPOR

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

View More Analyst Ratings for GPOR
View the Latest Analyst Ratings


Related Articles (GPOR)

View Comments and Join the Discussion!

Posted-In: FBRAnalyst Color Upgrades Price Target Analyst Ratings

Latest Ratings

EWTXSVB LeerinkInitiates Coverage On34.0
DSGNSVB LeerinkInitiates Coverage On36.0
OSHCantor FitzgeraldInitiates Coverage On75.0
STLJanney Montgomery ScottDowngrades25.0
View the Latest Analytics Ratings
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
Everything you need to know about the latest SPAC news.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at