Gulfport Energy Corporation Announces $136.3 Million Common Stock Secondary Offering, Kirkland & Ellis, Paul, Weiss and Cravath Advise
July 7, 2023
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Gulfport Energy ($NYSE:GPOR) Corporation recently announced a secondary offering of $136.3 million of its common stock, with Kirkland & Ellis acting as legal advisor to Gulfport, Paul, Weiss representing the selling stockholders, and Cravath providing counsel to the underwriters. Gulfport Energy Corporation is a leading independent exploration and production company focused on the development and exploitation of natural gas, natural gas liquids, and crude oil in the United States. Headquartered in Oklahoma City, the company operates primarily in the Utica Shale in Ohio and the SCOOP Woodford and SCOOP Springer plays in Oklahoma.
Market Price
Kirkland & Ellis LLP, Paul, Weiss, Rifkind, Wharton & Garrison LLP and Cravath, Swaine & Moore LLP are serving as legal advisors on the offering. GULFPORT ENERGY stock opened at $105.0 and closed at $105.1 on Wednesday, representing a 1.0% increase from its prior closing price of 104.0. The company intends to use the proceeds from the offering for general corporate purposes, including the repayment of debt. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Gulfport Energy. More…
| Total Revenues | Net Income | Net Margin |
| 2.2k | 1.34k | 61.0% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Gulfport Energy. More…
| Operations | Investing | Financing |
| 789.44 | -506.6 | -285.28 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Gulfport Energy. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 2.53k | 1.15k | 73.86 |
Key Ratios Snapshot
Some of the financial key ratios for Gulfport Energy are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 32.6% | 126.8% | 71.1% |
| FCF Margin | ROE | ROA |
| 12.6% | 86.9% | 38.8% |
Analysis
GoodWhale recently conducted an analysis of GULFPORT ENERGY‘s wellbeing. Our Star Chart shows that GULFPORT ENERGY has strong growth and profitability, but is weak in dividends. We gave GULFPORT ENERGY an intermediate health score of 6/10, suggesting that the company may be able to pay off debt and fund future operations while maintaining a healthy financial state. Based on our analysis, we classify GULFPORT ENERGY as ‘rhino’, which suggests that the company has achieved moderate revenue or earnings growth. Investors who are looking for steady returns over time might be interested in investing in a company like GULFPORT ENERGY. More…
Peers
Gulfport Energy Corp competes with a number of other companies, including Byron Energy Ltd, Kolibri Global Energy Inc, and Devin Energy Corp, all of which strive to be the top provider of energy-related services and products. As companies strive to increase their market share and customer base, the competition between Gulfport Energy Corp and its competitors has become fierce.
– Byron Energy Ltd ($ASX:BYE)
Byron Energy Ltd is an oil and gas exploration and production company. It has a market cap of 119.63M as of 2022 and a Return on Equity of 15.55%. The market capitalization of a company is an indicator of its size and reflects the total value of all its outstanding shares. A higher market cap typically indicates that the company has the confidence of investors and is making solid business decisions. The Return on Equity (ROE) measures the rate of return on the investment provided by shareholders. A higher ROE indicates that the company is successfully making use of investor funds and is performing effectively.
– Kolibri Global Energy Inc ($TSX:KEI)
Kolibri Global Energy Inc is an energy company that specializes in producing and distributing renewable energy sources such as solar, wind, and geothermal. The company has a market capitalization of 143.18M as of 2022, which is a reflection of the company’s financial strength and market performance. The company also boasts a Return on Equity (ROE) of 38.16%, which is a measure of the company’s profitability. This high rate of return indicates that investors are confident in the company’s ability to generate profits.
– Devin Energy Corp ($OTCPK:DVNGF)
Devin Energy Corp is an energy company based in Texas that specializes in the exploration and production of natural gas and oil. The company has a market cap of 6.55k as of 2022, which is relatively small compared to other energy companies. Despite its small size, Devin Energy Corp has managed to achieve a Return on Equity (ROE) of 2.58%, which is high compared to the industry average. This indicates that the company is using its equity efficiently and effectively to generate returns for its shareholders.
Summary
Gulfport Energy Corporation recently announced a secondary offering of common stock worth $136.3 million. Analyzing this investment opportunity, investors should consider Gulfport Energy’s operations, financial statements, and competitive landscape. Additionally, investors should consider the current economic conditions and management outlook to evaluate the potential risks and benefits of investing in Gulfport Energy. By staying informed on the company’s performance and considering these factors, investors can determine whether to invest in Gulfport Energy.
