Gulfport Energy Corp (GPOR)

Price$174.69Cached quoteAs of 2026-09-09 17:33 UTC

AI: Undervalued

Price checkThe shares look modestly undervalued if recent cash generation holds through normal gas-price swings.

Using the latest quarter’s 17.7 million shares, the observed price implies roughly $3.2 billion of equity value and about $4.1 billion of enterprise value after debt and cash. Against roughly $497 million of trailing net income and about $1.01 billion of trailing SEC-derived EBITDA, that is near 6.4 times earnings and 4.1 times enterprise value to EBITDA. Cash left after operating and investing activities was about $248 million over the latest four quarters, a roughly 8% equity yield. Pasted text ChartExchange

Big pictureCash generation is real, but it moves sharply with natural gas prices and hedging outcomes.

Operating cash flow was about $723 million in 2023, $650 million in 2024, and $803 million in 2025; the first half of 2026 added about $443 million. Yet reported net income swung from a $261 million loss in 2024 to a $428 million profit in 2025. In the second quarter of 2026, realized natural gas pricing before derivatives fell 17% year over year, while settled derivatives added $0.52 per thousand cubic feet. First-quarter adjusted free cash flow was $118.9 million, but second-quarter adjusted free cash flow fell to $6.4 million. Gulfport Energy Corporation+2Gulfport Energy Corporation+2

Business strengthLiquidity and buybacks support per-share value, though recent repurchases came alongside rising debt.

Debt reached about $922 million at June 2026, up roughly 17% from year-end 2025, while cash was only about $1 million. Still, Gulfport reported about $772 million of liquidity, and debt is below one times recent trailing EBITDA. Shares outstanding fell from 18.8 million at year-end 2025 to 17.7 million by June. Gulfport repurchased 1.26 million shares for $242.8 million in the first half at an average $192.91, above the observed market price, while revolving-credit borrowings increased to $280 million. SEC+2SEC+2

What could change the storyHigher gas prices or productive new Utica wells could unlock upside; heavier spending could erase it.

Gulfport’s second-quarter production was about 91% natural gas, so commodity prices remain the biggest earnings lever. The company paid $83 million for about 4,700 net Ohio Utica acres and 16 net locations, then outlined another $140 million of discretionary acreage spending intended to add roughly 40 locations and extend its Utica runway by more than 2.5 years. My inference is that today’s valuation works best if normalized free cash flow—cash left after operating and investing—can stay around $250 million to $320 million annually without materially higher debt. Gulfport Energy Corporation+1

AI: News

Second-quarter spending resetSecond-quarter cash generation weakened as drilling spending rose, while Gulfport committed more money to acreage.

On August 3, Gulfport reported $87.1 million of net income, $149.9 million of operating cash flow, only $6.4 million of adjusted free cash flow, and $148.6 million of capital expenditures. It also said first-half share repurchases totaled $242.8 million and outlined another $140 million of discretionary acreage spending through year-end. Shares fell about 5% in the next trading session, but timing alone does not prove the release caused the decline. The mix matters because heavier spending can increase borrowing or reduce future buybacks. Gulfport Energy Corporation+1

Utica acreage expansionThe Ohio lease purchase added nearby drilling locations that could extend Gulfport’s highest-return inventory.

On June 29, Gulfport announced an $83 million purchase of roughly 4,700 net undeveloped acres in Belmont County, Ohio. The acreage is adjacent to existing Utica operations and adds about 16 net drilling locations normalized to 15,000-foot laterals. Management expects development to begin in 2027. The strategic upside is longer inventory life and better use of existing infrastructure; the risk is that the company paid cash and borrowing capacity today for returns that depend on future well performance and commodity prices. Gulfport Energy Corporation

Gas outlook target cutA weaker gas outlook triggered a sharp analyst target cut and a five-percent stock drop.

On July 10, Truist cut its Gulfport price target to $190 from $219 while keeping a Hold rating, citing expectations for natural-gas storage above normal levels and pressure on gas prices. Gulfport shares fell about 5.4% in the session. This is not a change in Gulfport’s assets, but it is material because about 91% of second-quarter production was natural gas, so lower expected gas prices directly reduce revenue, drilling returns, and the cash available for acreage purchases or share repurchases. Yahoo Finance+1

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Financial statements

	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009
Revenue	$1.42B	$958.1M	$1.79B	$1.33B	$535.8M	$866.5M	$1.56B	$1.55B	$1.32B	$385.9M	$709.0M	$670.8M	$262.8M	$248.9M	$229.3M	$127.9M	$86.0M
Gross profit	$1.06B	$606.9M	$1.44B	$973.9M	$323.8M	$410.2M	$1.05B	$1.06B	—	—	—	—	—	—	—	—	—
Gross margin	74.77%	63.34%	80.54%	73.16%	60.43%	47.34%	67.45%	68.63%	—	—	—	—	—	—	—	—	—
Operating expenses	$822.2M	$1.19B	$816.9M	$788.0M	$591.7M	$2.23B	$3.27B	$1.15B	$764.5M	$1.25B	$2.04B	$445.1M	$207.3M	$151.7M	$118.3M	$77.2M	$60.9M
Operating income	$600.4M	−$236.8M	$974.8M	$543.1M	−$55.9M	−$1.36B	−$1.70B	$399.0M	$555.8M	−$868.1M	−$1.33B	$225.6M	$55.5M	$97.3M	$111.0M	$50.8M	$25.1M
Operating margin	42.21%	−24.71%	54.41%	40.80%	−10.44%	−157.25%	−108.99%	25.71%	42.09%	−224.96%	−188.26%	33.64%	21.11%	39.07%	48.40%	39.68%	29.15%
EBITDA	$904.6M	$89.0M	$1.29B	$810.9M	$105.0M	−$1.12B	−$1.15B	$885.6M	$920.4M	−$622.2M	−$997.0M	$491.1M	$174.3M	$188.0M	$173.3M	$89.7M	$54.3M
EBITDA margin	63.59%	9.29%	72.25%	60.92%	19.60%	−129.58%	−73.80%	57.07%	69.71%	−161.22%	−140.63%	73.21%	66.35%	75.53%	75.59%	70.09%	63.14%
Net income	$427.8M	−$261.4M	$1.47B	$494.7M	−$112.8M	−$1.63B	−$2.00B	$430.6M	$435.2M	−$979.7M	−$1.22B	$247.4M	$153.2M	$68.4M	$108.4M	$47.4M	$23.6M
Net profit margin	30.07%	−27.28%	82.10%	37.16%	−21.06%	−187.54%	−128.10%	27.75%	32.96%	−253.87%	−172.76%	36.88%	58.30%	27.47%	47.29%	37.03%	27.48%
Basic EPSper basic share	$21.74	-$14.72	$67.24	$20.45	-$5.71	-$10.14	-$12.49	$2.46	$2.42	-$7.97	-$12.27	$2.90	$1.98	$1.22	$2.22	$1.08	$0.55
Diluted EPSper diluted share	$21.48	-$14.72	$66.46	$20.32	-$5.71	-$10.14	-$12.49	$2.45	$2.41	-$7.97	-$12.27	$2.88	$1.97	$1.21	$2.20	$1.07	$0.55

Review official source filings ↗

Owners

Reported shareholders

Reference date Jun 30, 2026

14.73%of listed shares

Silver Point Capital L.P.2.61M shares · Jun 30, 2026

View holders

Top 20 reported holders of GPOR
Holder	% owned
Silver Point Capital L.P.	14.73%2.61M shares
BlackRock, Inc.	12.84%2.27M shares
STATE STREET CORP	5.60%990.94K shares
FMR LLC	4.87%861.94K shares
VANGUARD CAPITAL MANAGEMENT LLC	3.76%666.02K shares
DIMENSIONAL FUND ADVISORS LP	3.55%627.47K shares
NOMURA ASSET MANAGEMENT INTERNATIONAL INC.	3.16%558.72K shares
VICTORY CAPITAL MANAGEMENT INC	3.00%530.56K shares
JENNISON ASSOCIATES LLC	2.98%527.25K shares
T. Rowe Price Investment Management, Inc.	2.96%524.78K shares
ADAGE CAPITAL PARTNERS GP, L.L.C.	2.66%470.06K shares
VANGUARD PORTFOLIO MANAGEMENT LLC	2.57%454.11K shares
HITE Hedge Asset Management LLC	2.28%403.4K shares
ARROWSTREET CAPITAL, LIMITED PARTNERSHIP	2.20%388.73K shares
GEODE CAPITAL MANAGEMENT, LLC	2.19%386.94K shares
PRINCIPAL FINANCIAL GROUP INC	2.13%377.23K shares
JPMORGAN CHASE & CO	2.10%372.53K shares
Palo Duro Investment Partners, LP	2.02%357.89K shares
Assenagon Asset Management S.A.	1.94%344.03K shares
AMERICAN CENTURY COMPANIES INC	1.91%338.55K shares

Percentages use 17.7M shares of this listed class outstanding on Jun 30, 2026.

Gray completes the 100% scale. Reported positions may overlap; holders have different reporting dates.

Source: SEC Form 13F ↗Updated Sep 29, 2026 · Quarterly data

Insider buys & sells

Jul 1, 2024–Jun 30, 2026

Buys0$0.00 disclosed value

Sells (SEC code S)57$801.37M disclosed value

Transaction	Insider	Type	Shares	Price	Value	Owned after
Apr 2, 2026Form 4	Martinez Jason JosephDirector	SellCommon Stock	400	$213.40	$85.4K	3.9K
Mar 24, 2026Form 4	Zitkus LesterSVP, Land	SellCommon Stock	1.9K	$213.90	$400.6K	5.9K
Mar 5, 2026Form 4	Willrath MatthewVP & CAO	SellCommon Stock	497	$215.28	$107.0K	2.6K
Mar 5, 2026Form 4	Craine Patrick K.CLAO and Corp Secretary	SellCommon Stock	1.0K	$210.25	$210.3K	11.1K
Mar 5, 2026Form 4	Craine Patrick K.CLAO and Corp Secretary	SellCommon Stock	1.0K	$207.93	$207.9K	12.1K

Review ownership filings at SEC.gov ↗

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Gulfport Energy Corp (GPOR)

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