EXE vs GPOR: Which Is the Better Buy in 2026?

Same yardstick, side by side (as of August 2026). Valuation lined up like this is most meaningful for two names in the same corner of the market, which these are. Figures are approximate; verify before investing.

Reading it: GPOR is the cheaper of the two on forward earnings, but cheaper is not the same as better. Pair the valuation with growth (how far the forward P/E sits below the trailing P/E) and risk (beta) before you decide.

The metrics above tell you which is the marginally better business. The bigger risk for most people is not picking the slightly worse stock, it is over-concentrating. EXE and GPOR share themes, so owning both, or adding either to what you already hold, can quietly push a large share of your portfolio into one bet.

This is the part a generic comparison page cannot answer, because it depends on what you own. Connect your brokerage and Walnut shows your real, combined EXE and GPOR exposure, flags overlap with your existing positions, and tells you if adding one would tip you past a concentration you are comfortable with, read-only by default, with your login staying at your broker. Walnut is not an investment adviser.

Expand Energy Corporation (NASDAQ: EXE) is the largest natural gas producer in the US lower 48, created on October 1, 2024 when Chesapeake Energy and Southwestern Energy completed their all-stock merger and rebranded as Expand Energy. The company produces roughly 7.5 billion cubic feet equivalent per day (about 93% natural gas) from premier shale positions in the Appalachian Basin (Marcellus and Utica) and the Haynesville Shale in Louisiana and East Texas. Its strategy centers on low-cost, high-margin gas production, capital discipline, debt reduction, and returning cash to shareholders through a base dividend and buybacks.

Full EXE guide

Gulfport Energy is an independent, natural gas-weighted upstream operator with roughly 996.8 MMcfe per day of Q1 2026 net production that runs about 91% natural gas, 7% NGLs, and 2% oil and condensate. Its core assets sit in eastern Ohio's Utica and Marcellus formations (about 833 MMcfe per day) and central Oklahoma's SCOOP Woodford and Springer plays (about 164 MMcfe per day). The strategy emphasizes disciplined capital spending on the highest-return wells, keeping leverage near or below 1.0x, and returning cash to shareholders primarily through buybacks.

Full GPOR guide

Both fit overlapping themes, but they are not interchangeable. The useful comparison is which set of drivers and risks you want exposure to.

• EXE drivers: Scale and low-cost synergies; LNG and structural demand growth.
• GPOR drivers: Natural gas price leverage; Aggressive buybacks and share count reduction.

A faster-growing, richer-valued name usually swings harder, so it suits a longer horizon and a higher tolerance for volatility; a steadier, more cash-generative business suits a more conservative or income-minded investor. The honest test is which set of risks you could hold through a drawdown: Expand's single biggest risk is natural gas price volatility, since it is a near pure-play producer with limited commodity diversification, so a mild winter, storage oversupply, or associated-gas growth can sharply cut cash flow. For GPOR, the dominant risk is natural gas price volatility, which can compress cash flow and margins quickly given the heavily gas-weighted mix.

Growth-minded investors who believe the theme has years to run tend to accept the richer multiple for more upside; value-minded investors lean toward the cheaper forward earnings and steadier profile. Pick EXE if you believe its drivers more; GPOR if you believe its. Many investors hold both, but since they share themes, that is a concentrated bet, not diversification. Decide deliberately and check overlap. For the full detail, see the EXE and GPOR guides.

EXE. EXE's results swing with gas prices: Q1 2026 revenue jumped about 41% year over year to roughly $4.4 billion as realized gas prices rose near $4.92 per Mcf, driving a swing back to profitability. With a market cap around $21 billion and enterprise value near $24 billion, the stock trades as a large-cap gas producer whose valuation multiples compress and expand with the forward gas curve. Trailing twelve-month revenue of roughly $11.6 billion reflects the recent price recovery rather than a stable run-rate.

GPOR. GPOR trades at a low single-digit to mid single-digit earnings multiple, typical of natural gas producers whose earnings swing with commodity prices. Q1 2026 adjusted free cash flow was about $119 million, funding buybacks while leverage stays near 1.0x or below. Because reported earnings can spike or fall with gas prices, valuation multiples on a single quarter can be misleading.

Headline figures (approximate, July 2026): EXE shows revenue (ttm) ~$11.6B, q1 2026 net income ~$1.16B, q1 2026 adj. eps ~$3.83, market cap ~$21B; GPOR shows revenue (ttm) ~$1.5B, q1 2026 revenue ~$437M, q1 2026 net income ~$166M, adjusted ebitda (q1 2026) ~$264M.

EXE and GPOR are related but distinct: same themes, different businesses and risks. Neither wins in the abstract; the right pick is whichever thesis you actually believe, sized so you are not over-concentrated in one theme. Walnut can show your combined EXE and GPOR exposure against your real portfolio. It is not an investment adviser.