GulfMark Offshore Inc. (NYSE:GLF) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Wednesday.
According to Zacks, “GulfMark Offshore, Inc. is a corporation that provides offshore marine services primarily to companies involved in offshore exploration and production of oil and natural gas. Their vessels transport drilling materials, supplies and personnel to offshore facilities, as well as move and position drilling structures. “
Separately, Morgan Stanley lowered their target price on shares of GulfMark Offshore from $5.50 to $4.00 and set an “underweight” rating on the stock in a research note on Thursday, July 28th.
GulfMark Offshore (NYSE:GLF) opened at 1.52 on Wednesday. The firm’s market cap is $40.79 million. GulfMark Offshore has a 12 month low of $1.47 and a 12 month high of $8.92. The company’s 50-day moving average is $2.26 and its 200 day moving average is $3.90.
GulfMark Offshore (NYSE:GLF) last released its earnings results on Tuesday, July 26th. The company reported ($0.57) EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.57). The firm had revenue of $30.50 million for the quarter, compared to analysts’ expectations of $31.91 million. GulfMark Offshore had a negative net margin of 188.68% and a negative return on equity of 7.75%. GulfMark Offshore’s quarterly revenue was down 59.1% on a year-over-year basis. During the same quarter last year, the company earned $0.27 EPS. On average, equities research analysts predict that GulfMark Offshore will post ($2.48) earnings per share for the current year.
Several institutional investors have recently bought and sold shares of GLF. Prudential Financial Inc. raised its position in GulfMark Offshore by 3.3% in the first quarter. Prudential Financial Inc. now owns 60,042 shares of the company’s stock valued at $370,000 after buying an additional 1,900 shares during the period. JPMorgan Chase & Co. raised its position in GulfMark Offshore by 3.1% in the first quarter. JPMorgan Chase & Co. now owns 1,259,539 shares of the company’s stock valued at $7,771,000 after buying an additional 38,250 shares during the period. Global Alpha Capital Management Ltd. raised its position in GulfMark Offshore by 6.6% in the first quarter. Global Alpha Capital Management Ltd. now owns 395,751 shares of the company’s stock valued at $2,442,000 after buying an additional 24,400 shares during the period. LMR Partners LLP acquired a new position in GulfMark Offshore during the second quarter valued at $100,000. Finally, Kalos Management Inc. raised its position in GulfMark Offshore by 96.1% in the second quarter. Kalos Management Inc. now owns 35,133 shares of the company’s stock valued at $110,000 after buying an additional 17,217 shares during the period. Institutional investors own 76.78% of the company’s stock.
About GulfMark Offshore
GulfMark Offshore, Inc provides offshore marine support and transportation services. The Company offers these services to companies engaged in the offshore exploration and production of oil and natural gas. The Company operates in three segments: the North Sea (N. Sea), Southeast Asia (SEA) and the Americas.
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