Why These Energy Stocks are Gaining This Week

8. Gulfport Energy Corporation (NYSE:GPOR)

Share Price Gains Between Nov 21 – Nov 28: 8.7%

Gulfport Energy Corporation (NYSE:GPOR) is an independent natural gas-weighted exploration and production company with assets primarily located in the Appalachia and Anadarko basins.

On November 17, Jefferies raised its price target on Gulfport Energy Corporation (NYSE:GPOR) from $250 to $260, and maintained a ‘Buy’ rating on the shares. GPOR has gained almost 23% over the last month, with the analyst attributing the rally to a stronger winter weather outlook, which is boosting expected demand for natural gas.

Moreover, the analyst praised the energy firm’s inventory expansion in the Ohio Marcellus, as mentioned in its Q3 earnings call. The addition of these high-quality locations at no incremental land cost effectively doubles Gulfport’s net drillable Marcellus inventory in Ohio.