Gulfport Energy downgraded to Sector Weight from Overweight at KeyBanc

KeyBanc downgraded Gulfport Energy to Sector Weight from Overweight without a price target. The analyst remains supportive of the company’s maintenance capital program, hedge book, and the efficiencies playing out in the field and in the financials. However, the firm sees limited room for further stock-specific multiple expansion amid the current challenged macro environment for natural gas. With the shares up 118% since the start of 2023, KeyBanc downgrades Gulfport on valuation.