We are upbeat about Gulfport Energy Corporation’s (GPOR - Free Report) prospects and believe it is a promising pick right now.
The company currently carries a Zacks Rank #2 (Buy) and a VGM Score of A. Our research shows that stocks with a VGM Score of A or B when combined with a Zacks Rank #1 (Strong Buy) or 2 offer the best opportunities for investors.
Let’s take a look at the other factors that make this upstream energy player an attractive bet.
Gulfport Energy is among the leading natural gas producers in America with strong presence in Utica shale play and SCOOP (South Central Oklahoma Oil Province) resources. Notably, the company owns roughly 215,000 net acres in Utica shale of Eastern Ohio and almost 92,500 net acres in Oklahoma’s SCOOP plays.
Moreover, in the Utica shale, the company reported net of 3.9 trillion cubic feet equivalent (Tcfe) of proved reserves, as of year-end 2017. In the SCOOP play, Gulfport Energy has net of 1.5 Tcfe of proved reserves.
It is to be noted that the price of natural gas recently crossed the psychological mark of $4 per million British thermal units (MMBtu) for the first time since late-2014.The demand story, that is primarily backing the price rally, is not just limited to room heating this winter. Escalating export volumes of the commodity owing to rising global demand for clean energy is another catalyst. But, apprehensions of a freezing winter this year with tight supply of natural gas for heating up rooms are also fueling the rise.
With nearly 90% of total production comprising natural gas, Gulfport Energy is well placed to capitalize on the favorable commodity pricing scenario.
Other Stocks to Consider
Other prospective players in the energy space are TC PipeLines, LP (TCP - Free Report) , Eni SpA (E - Free Report) and Enterprise Products Partners L.P. (EPD - Free Report) . All the stocks sport a Zacks Rank #1. You can see the complete list of today’s Zacks #1 Rank stocks here.
TC PipeLines beat the Zacks Consensus Estimate in three of the last four quarters, the average positive earnings surprise being 15.6%.
Eni managed to beat the Zacks Consensus Estimate in three of the past four quarters.
Enterprise Products surpassed the Zacks Consensus Estimate in the last four quarters, the average positive earnings surprise being 9.3%.
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