|Bid||2.6000 x 2200|
|Ask||2.7400 x 28000|
|Day's Range||2.4600 - 2.7200|
|52 Week Range||2.2800 - 10.0900|
|Beta (3Y Monthly)||0.91|
|PE Ratio (TTM)||1.16|
|Earnings Date||Feb 25, 2020 - Mar 2, 2020|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||3.96|
Today we'll look at Gulfport Energy Corporation (NASDAQ:GPOR) and reflect on its potential as an investment...
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Firefly Value Partners on Thursday asked Gulfport Energy for a seat on its board and criticized the "half-measures" which the U.S. gas exploration and production company is taking to improve its financial performance. On Monday, Oklahoma City-based Gulfport announced job cuts, board changes and an end to its share buyback program to focus on debt repurchases, to help reverse a more than 65% slide in its share price over the last 12 months. Gulfport had said on Monday that Chairman David Houston would not stand for reelection next year, while two other directors - Craig Groeschel and Scott Streller - would step down from Gulfport's board by the end of this year.
Firefly Value Partners, LP, which manages funds that, together with affiliates, collectively beneficially own 9.9% of the outstanding common stock of Gulfport Energy Corporation (GPOR), today issued a public letter to the Gulfport Board of Directors. Firefly Value Partners, LP (“Firefly” or “we”) manages funds that, together with affiliates, collectively beneficially own 9.9% of the outstanding common stock of Gulfport Energy Corporation (“Gulfport” or the “Company”), making it the Company’s largest active stockholder.
U.S. gas exploration and production company Gulfport Energy Corp on Monday confirmed that it would cut jobs, change its board and end its share buybacks, in a bid to reverse a slide in its stock price. Gulfport shares, which fell 7.8% to $2.85 in morning trading, have lost about 67% of their market value in the last 12 months, as weak natural gas prices have eroded its profitability and forced it to slash capital investment. Gulfport, whose production is focused primarily in the Utica Shale in Ohio and SCOOP acreage in Oklahoma, also made a new commitment to use excess cash to pay down debt, which totaled $2.1 billion as of the end of September.
The shareholder value initiatives include a continuation of discounted debt repurchases and a suspension of its share repurchase program, as well as a 13% reduction in headcount as part of the Company’s overall cost reduction program. The Company also announced that two of its Board members, Craig Groeschel and Scott E. Streller, will step down from the Board by year-end.
U.S. gas exploration and production company Gulfport Energy Corp will announce job cuts, board changes and an end to its share buybacks on Monday, in a bid to reverse a slide in its share price, according to people familiar with the matter. The Oklahoma City-based company has lost 65% of its market value in the last 12 months, as weak natural gas prices have eroded its profitability and forced it to slash capital investment. Gulfport, whose production is focused primarily in the Utica Shale in Ohio and SCOOP acreage in Oklahoma, plans to announce job cuts and make a new commitment to using excess cash to pay down debt, which totaled $2.1 billion as of the end of September, according to the sources.
Moody's Investors Service ("Moody's") downgraded Gulfport Energy Corporation's (Gulfport) Corporate Family Rating (CFR) to B2 from Ba3, Probability of Default Rating (PDR) to B2-PD from Ba3-PD and senior unsecured notes to B3 from B1. "We expect Gulfport's financial profile to weaken in the low natural gas environment due to limited production hedging in 2020," commented Elena Nadtotchi, Moody's Vice President - Senior Credit Officer.
Gulfport Energy (GPOR) generated free cash flows of $103.4 million in the third quarter, substantially higher than $23.8 million reported in the year-ago period.
Gulfport Energy (GPOR) delivered earnings and revenue surprises of 9.09% and -12.68%, respectively, for the quarter ended September 2019. Do the numbers hold clues to what lies ahead for the stock?
OKLAHOMA CITY, Oct. 31, 2019 -- Gulfport Energy Corporation (NASDAQ: GPOR) (“Gulfport” or the “Company”) today reported financial and operational results for the three-months.
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