Kirkland Advises Gulfport Energy on Secondary Offering of Common Stock
December 28, 2023
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Gulfport Energy ($NYSE:GPOR) Corporation is an independent oil and natural gas exploration and production company based in Oklahoma City. The company recently received advice from Kirkland & Ellis LLP on their underwritten secondary offering of common stock. Kirkland & Ellis LLP is a law firm experienced in advising clients on a range of matters, including capital markets transactions.
Gulfport Energy is well-positioned to increase its operations, thanks to the addition of Kirkland’s advice. With this new capital-raising round, Gulfport will be able to further capitalize on the current environment and expand its operations.
Share Price
Following the announcement of the secondary offering, GULFPORT ENERGY‘s stock opened at $132.4 and closed at $136.0, up by 3.7% from its prior closing price of 131.2. This secondary offering was underwritten by Raymond James & Associates, Inc., B. Riley Securities, Inc., and Wells Fargo Securities, LLC. 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 |
| 1.33k | 1.71k | 91.9% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Gulfport Energy. More…
| Operations | Investing | Financing |
| 755.67 | -548.96 | -206.68 |
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 |
| 3.14k | 1.11k | 108.74 |
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 |
| 27.8% | 126.8% | 110.6% |
| FCF Margin | ROE | ROA |
| 15.4% | 53.4% | 29.4% |
Analysis
As GoodWhale, we conducted an analysis of GULFPORT ENERGY‘s financials and according to Star Chart, the company is strong in growth, profitability and medium in assets while it is weak in dividend. We classified GULFPORT ENERGY as ‘rhino’, a type of company that has achieved moderate revenue or earnings growth. Investors such as growth investors and value investors may be interested in such company. Furthermore, we assessed GULFPORT ENERGY’s financial health and concluded that it has an intermediate health score of 6/10 with regard to its cashflows and debt, and is likely to sustain future operations in times of crisis. 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 is a leading independent exploration and production company with operations focused in the Utica Shale in Eastern Ohio and the SCOOP Woodford and STACK plays in Oklahoma. This offering was advised by Kirkland and Ellis LLP. The offering has enabled Gulfport to raise additional capital to fund future development and acquisition opportunities, as well as for general corporate purposes. The stock price of Gulfport Energy shares moved up on the same day of this announcement, indicating that the market has reacted positively to this news. Given that the company has access to additional capital, investors may view this as a sign of strength and stability for the company.
However, investors should also consider that a secondary offering of common stock often dilutes the value of existing shareholders’ common stock, which could be a cause for concern. Therefore, it is important to closely monitor any developments related to Gulfport Energy to ensure that any potential risks are adequately assessed.
