Gulfport Energy Announces Public Offering Of 1.3M Shares Of Common Stock By Selling Stockholders; Co Plans To Purchase $25M Of Shares From Selling Stockholders, Part Of Existing $400M Share Repurchase Program
Portfolio Pulse from Happy Mohamed
Gulfport Energy Corporation (GPOR) has announced a public offering of 1.3 million shares of its common stock by certain stockholders. The company plans to purchase $25 million of shares from the selling stockholders, as part of its existing $400 million share repurchase program.
June 21, 2023 | 8:03 pm
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NEUTRAL IMPACT
Gulfport Energy's public offering of 1.3 million shares and $25 million share repurchase may impact its stock price.
The public offering of 1.3 million shares by certain stockholders may increase the supply of GPOR shares in the market, potentially putting downward pressure on the stock price. However, the company's plan to repurchase $25 million worth of shares as part of its existing $400 million share repurchase program may offset this effect, providing support to the stock price. The net impact on the stock price is uncertain, hence the neutral score.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 100