Wed, Apr. 15, 4:47 PM
- Gulfport Energy (NASDAQ:GPOR) -2.6% AH on news it agrees to acquire Macquarie subsidiary Paloma Partners III for $300M; Paloma holds ~24K net non-producing acres in the core of the dry gas window of the Utica Shale in Ohio.
- To help pay for the deal, GPOR announces a public offering of 7.5M common shares, with an underwriters option to purchase up to additional 1.125M shares, and proposes to offer $300M of senior notes due 2023.
- Also, GPOR says it produced oil and natural gas sales volumes of 424MM cfe/day during Q1, beating its previous guidance of 378MM-390MM cfe/day; for Q1, GPOR's production mix was 68% natural gas and 32% oil and natural gas liquids.
Fri, Feb. 27, 11:49 AM
- Gulfport Energy's (GPOR +0.8%) price target is raised to a Street-high $60 from $50 at Wunderlich, which says GPOR's Q4 earnings were "impressive" but even more so was the company's guidance that calls for another 80%-100% growth in production on significantly lower spending as the Utica and Gulfport assets "begins to flex its muscle."
- The firm says additional positives included 300% reserve growth and monetization plans for non-core assets that also could prove incremental, which should allow GPOR to remain a top-tier growth player.
- In reiterating its Buy rating, Sterne Agee says GPOR continues to post best-in-basin pricing on natural gas and natural gas liquids, which is attributed to its takeaway optionality from the Cadiz processing complex in Ohio.
- RBC raises its price target to $57 from $55, citing GPOR's production guidance even amid fa 42% reduction in capex; Canaccord ups its target to $54 from $46 and says GPOR may be the best positioned name in its coverage universe when considering the company's production growth with little balance sheet stress (Briefing.com).
Wed, Feb. 25, 5:37 PM
Wed, Feb. 25, 4:06 PM
Tue, Feb. 24, 5:35 PM
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Tue, Feb. 10, 6:47 PM
- Figuring the debt markets are a bit more rational than the equity markets right now, Wunderlich analysts look to the bond market for some clues about energy investing.
- The firm finds that where Chesapeake Energy's (NYSE:CHK) debt is trading now as "quite refreshing" given the strong balance sheet the company has built, strengthening its conviction that CHK is a Best idea among oil stocks; others holding up well, it says, are financially strong names such as XEC, CXO, EGN, EOG, GPOR, MTZ, NBL, PTEN, PDCE, PXD and ROSE.
- In other cases, the debt is providing “equity-like returns” for investors who want to move out of stocks and into bonds, with the firm mentioning AREX, BBG, CWEI and NOG.
Mon, Jan. 5, 9:51 AM
- Gulfport Energy (GPOR -0.8%) says it exited 2014 with net production of 68K boe/day, significantly above its exit rate guidance of 55K boe/day, and says Q4 production averaged 59.8K boe/day, above its estimate of 57.7K boe/day.
- While GPOR did not provide its Q4 production mix, the year-end exit rate had a greater liquids volume (73% natural gas, 27% oil and natural gas liquids); GPOR says it brought online 22 gross wells during the quarter.
- GPOR's 2015 outlook is expected prior to or in conjunction with its Q4 results on Feb. 25; Topeka Capital says it would be a buyer of shares into the 2015 outlook and Q4 results (Briefing.com).
Dec. 9, 2014, 11:58 AM
- Gulfport Energy (GPOR +1.3%) is initiated with a Buy rating and $50 target price at Stifel, which says GPOR is trading at a 15% discount to its Appalachian peers based on 2016 cash flow.
- The firm believes the discount can be attributed to investor apprehension caused by past misses, a resource target that remains in its infancy, and that GPOR is just now exiting its key two-year transition period during which production has shifted from 9% natural gas in Q1 2013 to 75%-plus in Q4 2014.
- Following solid Q3 results, Stifel expects GPOR to maintain its positive momentum and close the valuation gap during 2015, as a result of concentrating its efforts throughout its core wet gas and dry Utica windows.
Nov. 11, 2014, 4:53 PM
- Diamondback Energy (NASDAQ:FANG) -3.1% AH as it launches a public offering of 2M common shares by certain selling stockholders, with an underwriters option to purchase up to an additional 300K shares.
- Entities controlled by Wexford Capital intend to sell 1.058M shares and Gulfport Energy (NASDAQ:GPOR) plans to sell 942k shares.
- All net proceeds will go to the selling stockholders.
Nov. 5, 2014, 4:16 PM
Nov. 4, 2014, 5:35 PM
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Oct. 21, 2014, 3:58 PM
- Global Hunter revisits its commodity price outlook, now moving to $83 long-term oil vs. $85 previously, applying a higher discount rate to future cash flows and modeling more conservative assumptions with regards to future rig activity, which results in downward revisions for several exploration and production stocks price targets and some rating changes (Briefing.com).
- Anadarko Petroleum (NYSE:APC), Gulfport Energy (NASDAQ:GPOR) and Rex Energy (NASDAQ:REXX) are upgraded to Buy; Talisman Energy (NYSE:TLM) is raised to Speculative Buy from Neutral.
- Devon Energy (NYSE:DVN), Hess (NYSE:HES), Occidental Petroleum (NYSE:OXY) and Kosmos Energy (NYSE:KOS) are upgraded to Accumulate from Neutral.
- Cobalt Energy (NYSE:CIE) is downgraded to Speculative Buy from Buy.
Oct. 16, 2014, 3:36 PM
- Southwestern Energy (SWN -10.6%) appears to be paying a steep price to buy $5.375B in high quality Appalachia assets from Chesapeake Energy (CHK +16.7%); SunTrust estimates SWN paid $9,625/acre for the land, when previous deals in West Virginia had come in below $5K/acre and the sharp decline in commodity prices over recent months.
- Stock investors clearly think CHK got a great deal, which is boosting shares of other West Virginia players such as Magnum Hunter (MHR +9.9%), Gulfport Energy (GPOR +6.7%) and Consol Energy (CNX +2.5%).
- Topeka Capital believes MHR has superior assets in the core Utica and Marcellus, and an average of the transaction metrics on MHR's production and acreage implies upside of 39.2%; with its scale in the area, the firm thinks MHR makes for an attractive takeout over the next 12 months.
Oct. 15, 2014, 10:43 AM
- Gulfport Energy (GPOR +1.6%) reports total Q3 production of nearly 3.9M boe, or 42,332 boe/day, exceeding its previously estimated guidance of 40K boe/day; the mix was 71% natural gas and 29% oil and natural gas liquids.
- GPOR says production has averaged ~53.4K boe/day so far in October.
- Wunderlich sets an $80 price target for GPOR shares, as the Q3 production beat and even big October ramp provides confidence in the company's strong outlook (Briefing.com).
Sep. 17, 2014, 4:29 PM
- Diamondback Energy (NASDAQ:FANG) -2.8% AH on news it is launching a secondary offering of 2.5M common shares by certain entities controlled by Wexford Capital and Gulfport Energy (NASDAQ:GPOR), with an underwriters' option to purchase up to an additional 375K shares.
- All of the net proceeds will go to the selling stockholders.
Sep. 8, 2014, 11:59 AM
- Gulfport Energy (GPOR -1.1%) and Whiting Petroleum (WLL -3.3%) are both initiated with Equal Weight ratings at Morgan Stanley, but both stocks are lower as the energy sector lags broadly in today's trading.
- GPOR controls some of the most attractive assets in the sector, Stanley says, but execution challenges have weighed on the stock and growing pains are likely to persist through year-end 2015; the firm sees long-term opportunity despite the near-term headwinds.
- Regarding WLL, the firm sees balanced risk-reward given WLL's relatively lower growth outlook and shallower inventory as it appears today, but it thinks accelerated growth guidance is possible in the next 12 months and would be more positive in that scenario.
GPOR vs. ETF Alternatives
Gulfport Energy Corp is an independent oil and natural gas exploration and production company focused on the exploration, exploitation, acquisition and production of crude oil, natural gas liquids and natural gas in the United States.
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