Gulfport Energy saw its IBD SmartSelect Composite Rating rise to 96 Wednesday, up from 93 the day before.
The upgrade means the stock is now outpacing 96% of all other stocks in terms of key performance metrics and technical strength. History shows the top market performers tend to have a 95 or higher score as they launch their major climbs.
Gulfport Energy broke out earlier, but is now trading right around the prior 183.59 entry from a flat base. If a stock you're tracking climbs above a buy point then declines 7% or more below the original entry price, it's considered a failed base. It's best to wait for the stock to form a new consolidation and breakout.
Looking For The Best Stocks To Buy And Watch? Start Here
One weak spot is the company's 79 EPS Rating, which tracks quarterly and annual earnings-per-share growth. Look for that to improve to 80 or better to show it's in the top 20% of all stocks.
Its Accumulation/Distribution Rating of A- shows heavy buying by institutional investors over the last 13 weeks.
The company posted 0% earnings growth for Q3. Top line growth increased -5%, up from -41% in the prior report. The company has now posted rising growth in each of the last two reports.
Gulfport Energy earns the No. 2 rank among its peers in the Oil&Gas-U.S. Exploration & Production industry group. PrimeEnergy Resources is the top-ranked stock within the group.
