10 Stocks That Could 10X Over the Next 5 Years

7) Gulfport Energy Corporation (NYSE:GPOR)

Number of Hedge Fund Holders: 33

Gulfport Energy Corporation (NYSE:GPOR) is engaged in the acquisition, exploration, development, and production of natural gas, crude oil, and natural gas liquids in the US.

Market experts opine that Gulfport Energy Corporation (NYSE:GPOR)’s well-hedged position and low-cost operations are expected to provide resilience against market fluctuations. The natural gas market appears to be well-placed for potential structural improvements in the supply and demand dynamics. Wall Street believes that such changes might benefit the company in the near to medium term.

The operational efficiencies were noted both in field operations and financial management. Such improvements resulted in renewed investor optimism and have placed Gulfport Energy Corporation (NYSE:GPOR) well in its peer group.

Its competitive position is expected to be further strengthened by operational improvements and a strategic focus on natural gas production. Moving forward, emerging opportunities for Gulfport Energy Corporation (NYSE:GPOR) consist of Ohio Marcellus Shale play, which might offer avenues for growth. Moreover, the merger between Chesapeake Energy and Southwestern Energy created the potential for acreage acquisitions, which the company might be well-positioned to pursue due to its improved equity position.

Its well-hedged position offers a buffer against the volatility in natural gas prices, enabling Gulfport Energy Corporation (NYSE:GPOR) to lock in favorable prices for a portion of its production. This gives revenue stability and predictability in cash flows. As per Wall Street, the shares of the company have an average price target of $187.43. Greenlight Capital, an investment management firm, released Q2 2024 investor letter. Here is what the fund said:

“We exited a few positions during the quarter, including, Gulfport Energy Corporation (NYSE:GPOR): During our 4-year holding period, the company successfully reorganized and emerged from bankruptcy with a clean balance sheet. The company executed successfully and we exited with a 62% IRR.”