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 cut their price target on GulfMark Offshore from $5.50 to $4.00 and set an underweight rating on the stock in a report on Thursday, July 28th.
GulfMark Offshore (NYSE:GLF) opened at 1.68 on Wednesday. The stock’s 50 day moving average price is $2.16 and its 200 day moving average price is $3.83. The company’s market capitalization is $45.08 million. GulfMark Offshore has a 52 week low of $1.46 and a 52 week high of $8.92.
GulfMark Offshore (NYSE:GLF) last announced its quarterly earnings results on Tuesday, July 26th. The company reported ($0.57) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.57). The business had revenue of $30.50 million for the quarter, compared to analyst estimates of $31.91 million. GulfMark Offshore had a negative return on equity of 7.75% and a negative net margin of 188.68%. The company’s quarterly revenue was down 59.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.27 earnings per share. Analysts anticipate that GulfMark Offshore will post ($2.48) earnings per share for the current year.
Hedge funds have recently modified their holdings of the company. Bridgeway Capital Management Inc. increased its stake in shares of GulfMark Offshore by 4.4% in the second quarter. Bridgeway Capital Management Inc. now owns 120,900 shares of the company’s stock valued at $378,000 after buying an additional 5,100 shares during the period. KCG Holdings Inc. increased its stake in shares of GulfMark Offshore by 42.5% in the second quarter. KCG Holdings Inc. now owns 40,979 shares of the company’s stock valued at $128,000 after buying an additional 12,226 shares during the period. Alpine Partners VI LLC bought a new stake in shares of GulfMark Offshore during the second quarter valued at approximately $162,000. Laurion Capital Management LP bought a new stake in shares of GulfMark Offshore during the second quarter valued at approximately $165,000. Finally, Principal Financial Group Inc. increased its stake in shares of GulfMark Offshore by 2.7% in the second quarter. Principal Financial Group Inc. now owns 181,480 shares of the company’s stock valued at $568,000 after buying an additional 4,718 shares during the period. 76.78% of the stock is owned by hedge funds and other institutional investors.
GulfMark Offshore Company Profile
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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