Gulfport Shares Still Oversold After Post-Quarter Bounce
Although Gulfport shares recovered slightly after the firm's strong first-quarter earnings release, the stock is still 14% lower than it was at the start of the year. We think this sell-off is overdone. Not only did the firm surprise to the upside with its first-quarter production, but its unit expenses were all below the midpoint of guidance as well. The firm is expected to generate free cash flows in the second half of the year, enabling it to reduce its financial leverage and fund its expande...Gulfport Energy is an oil and natural gas exploration and production company focused on the exploration, exploitation, acquisition and production of natural gas, crude oil and natural gas liquids. The company's principal properties are located in the Utica Shale primarily in Eastern Ohio and the SCOOP Woodford and SCOOP Springer plays in Oklahoma. In addition, among other interests, the company holds an acreage position along the Louisiana Gulf Coast in the West Cote Blanche Bay and Hackberry fields, an acreage position in the Alberta oil sands in Canada through its interest in Grizzly Oil Sands ULC and an equity interest in Mammoth Energy Services, Inc., an oil field services company.
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