NEW YORK ( TheStreet) -- Gulfport Energy Corporation (Nasdaq: GPOR) is trading at unusually high volume Friday with 5.3 million shares changing hands. It is currently at 8.9 times its average daily volume and trading up 70 cents (+2.1%) at $33.28 as of four p.m. ET.

Gulfport Energy has a market cap of $1.4 billion and is part of the basic materials sector and energy industry. Shares are up 47.1% year to date as of the close of trading on Thursday.

Gulfport Energy Corporation engages in the exploration, development, and production of oil and gas in the Louisiana Gulf Coast and the Permian Basin in west Texas. The company also holds indirect interests in the Alberta Oil Sands in Canada. The company has a P/E ratio of 30.1, equal to the average energy industry P/E ratio and above the S&P 500 P/E ratio of 16.

TheStreet Ratings rates Gulfport Energy as a buy. The company's strengths can be seen in multiple areas, such as its robust revenue growth, solid stock price performance, impressive record of earnings per share growth, compelling growth in net income and expanding profit margins. We feel these strengths outweigh the fact that the company is trading at a premium valuation based on our review of its current price compared to such things as earnings and book value. You can view the full Gulfport Energy Ratings Report.

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