Published On: Sun, Sep 18th, 2016

GulfMark Offshore Inc. (GLF) Price Target Cut to $4.00

GulfMark Offshore Inc. (NYSE:GLF) had its price objective cut by investment analysts at Morgan Stanley from $5.50 to $4.00 in a research report issued to clients and investors on Thursday. The firm currently has an “underweight” rating on the stock. Morgan Stanley’s price objective suggests a potential upside of 116.22% from the company’s current price.
Separately, Zacks Investment Research raised shares of GulfMark Offshore from a “sell” rating to a “hold” rating in a research note on Monday, July 11th.
Shares of GulfMark Offshore (NYSE:GLF) traded down 5.61% during trading on Thursday, reaching $1.85. 858,678 shares of the company traded hands. GulfMark Offshore has a 12 month low of $1.81 and a 12 month high of $8.92. The firm’s market capitalization is $49.65 million. The firm has a 50-day moving average price of $2.57 and a 200-day moving average price of $4.18.

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GulfMark Offshore (NYSE:GLF) last announced its quarterly earnings data on Tuesday, July 26th. The company reported ($0.57) earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.57). The company 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%. The business’s revenue was down 59.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.27 EPS. Equities research analysts anticipate that GulfMark Offshore will post ($2.48) EPS for the current year.
Several hedge funds and other institutional investors have recently made changes to their positions in GLF. LMR Partners LLP purchased a new position in shares of GulfMark Offshore during the second quarter valued at approximately $100,000. Kalos Management Inc. boosted its position in shares of 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 last quarter. A.R.T. Advisors LLC purchased a new position in shares of GulfMark Offshore during the second quarter valued at approximately $126,000. KCG Holdings Inc. boosted its position 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 last quarter. Finally, Alpine Partners VI LLC purchased a new position in shares of GulfMark Offshore during the second quarter valued at approximately $162,000. 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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