Gulfport Energy Q3 revenue beats estimates on higher liquids production

Overview

• U.S. natural gas producer's Q3 revenue beat analyst expectations

• Company expanded stock repurchase authorization to $2.0 bln, bought back $36.2 mln in shares

• Q3 liquids production rose 67% from prior quarter, boosting margins and earnings

Outlook

• Company expects full-year 2026 production and capital expenditures in line with prior guidance

• Company expects to complete $140 mln 2026 discretionary acreage acquisition program by year-end

• Company evaluating two-rig Appalachia program for 2027, targeting production growth from 2028

Result Drivers

• HIGHER LIQUIDS PRODUCTION - Co said increased liquids-rich production, especially from Utica pads, drove Q3 volumes and improved margins

• STRONG LIQUIDS PRICING - Co attributed margin and earnings gains to higher realized liquids prices and improved production mix

• INVENTORY EXPANSION - Co said completion of Ohio state land acquisitions and targeted leasing increased inventory depth

Company press release:

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 7 "strong buy" or "buy", 8 "hold" and 1 "sell" or "strong sell"

• The average consensus recommendation for the oil & gas exploration and production peer group is "buy"

• Wall Street's median 12-month price target for Gulfport Energy Corporation is $218.00, about 37% above its November 4 closing price of $159.11

• The stock recently traded at 7 times the next 12-month earnings vs. a P/E of 6 three months ago

Reuters Recommended Reads

• Nov 2 - Williams Q3 adjusted EPS misses estimates

• Nov 2 - US LNG exports hit second-highest monthly level on record as Europe demand surges

• Nov 2 - Diamondback Energy boosts production forecast amid elevated oil prices

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)