In the last 3 months, 7 ranked analysts set 12-month price targets for GPOR. The average price target among the analysts is $22.00. All seven new reports rate GPOR a BUY. Price targets range from $20 to $25. On March 3, 2017 (when the outlook for natural gas and NGL prices was much lower than it is today), Credit Suisse published a detailed report on GPOR with a $33 price target.
Gulfport is one of three "gassers" in the Sweet 16. The share price has been under pressure because of a big acquisition that the company closed in February in the SCOOP play. Their leasehold in SCOOP is "gassy" and the market did not like that. However, the first two wells completed by the company are producing above the pre-drill type curve and I expect the company to report more good SCOOP well results when they release Q2 results. Gulfport is currently running four operated rigs in SCOOP and they may add a fifth rig in the 4th quarter.
If we see draws from natural gas storage in a few weeks the price of natural gas will spike and GPOR will draw a lot of attention, especially if it has more good SCOOP wells to announce.
Gulfport Energy (GPOR)
Gulfport Energy (GPOR)
Dan Steffens
Energy Prospectus Group
Energy Prospectus Group