Gulfport Energy Corporation (GPOR): Should You Buy This Stock for Your Portfolio?

Gulfport Energy Corporation (NASDAQ:GPOR) is expanding its management team and has added the following members since September 2013: J. Ross Kirtley as Chief Operating Officer for its Ohio activities, Robert A. Jones as Vice President of Drilling and Mark R. Malone as Vice President of Operations for its Ohio activities, and Ty Peck as Managing Director of Midstream Operations.

James Palm, Gulfport Energy Corporation CEO, commented, “The Utica Shale provides a huge opportunity for our company and these new team members will augment our ability to capitalize and execute our plans. These individuals will make significant contributions to the growth and success of the company.” Gulfport is an independent oil and natural gas exploration and production company. Besides assets in the Utica Shale of Eastern Ohio and the Louisiana Gulf Coast, the company also has interests in Alberta il Sands in Canada and Phu Horm gas field in Thailand.

The stock market also shares the company’s optimism. GPOR shareholders have witnessed an increase in support from the world’s most elite money managers lately.

Gulfport Energy Corporation (NASDAQ:GPOR)

Hedge fund activity in Gulfport Energy Corporation (NASDAQ:GPOR)

At the end of the third quarter, 39 hedge funds tracked by hedge-fund website Insider Monkey were long in this stock, which shows a strong 44-percent increase from one quarter earlier. With hedge funds’ positions undergoing their usual ebb and flow, there exists a select group of notable hedge fund managers who were upping their stakes considerably.

When looking at the hedgies tracked by Insider Monkey, Ken Griffin’s Citadel Investment Group had the biggest position in Gulfport Energy Corporation (NASDAQ:GPOR), worth close to $166 million, comprising 0.3 percent of its total 13F portfolio. The fund manager increased the stake by 48 percent in the last quarter. The second-largest stake is held by Senator Investment Group, managed by Doug Silverman and Alexander Klabin, which held a $96.5-million position; 1.4 percent of its portfolio is allocated to the stock. Other hedge funds that are bullish include David Stemerman’s Conatus Capital Management, Israel Englander’s Millennium Management and Ryan Heslop and Ariel Warszawski’s Firefly Value Partners.

Now, key hedge funds were breaking ground themselves. Senator Investment Group, managed by Doug Silverman and Alexander Klabin, created the most valuable position in Gulfport Energy Corporation (NASDAQ:GPOR). Senator Investment Group had $96.5-million invested in the company at the end of the quarter. Millennium Management Subsidiary’s Decade Capital Management also initiated a $34.4-million position during the quarter. The following funds were also among the new GPOR investors: Vince Maddi and Shawn Brennan’s SIR Capital Management, Christopher Medlock James’s Partner Fund Management, and Sanford J. Colen’s Apex Capital.

What do insiders think about Gulfport Energy Corporation (NASDAQ:GPOR)?

Over the last half-year time frame, Gulfport Energy Corporation (NASDAQ:GPOR) has experienced zero unique insider purchases and two insider sales (see the details of insider trades here).

Let’s also review hedge fund and insider activity in other stocks similar to Gulfport Energy Corporation (NASDAQ:GPOR). These stocks are Ultra Petroleum Corp. (NYSE:UPL), SM Energy Co. (NYSE:SM), WPX Energy Inc (NYSE:WPX), Energen Corporation (NYSE:EGN), and Oasis Petroleum Inc. (NYSE:OAS). These groups of stocks are in the independent oil and gas industry and their market caps are similar to GPOR’s market cap.

Company Name # of Hedge Funds # of Insiders Buying # of Insiders Selling
Ultra Petroleum Corp. (NYSE:UPL) 22 0 0
SM Energy Co. (NYSE:SM) 26 0 7
WPX Energy Inc (NYSE:WPX) 22 0 2
Energen Corporation (NYSE:EGN) 25 0 7
Oasis Petroleum Inc. (NYSE:OAS) 33 0 4

Gulfport Energy Corporation (NASDAQ:GPOR) is favored by the hedgies with insiders favoring SM Energy Co. (NYSE:SM) and Energen Corporation (NYSE:EGN).


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