Insider Selling: Gulfmark Offshore Director Unloads 20,000 Shares of Stock (GLF)
Gulfmark Offshore (NYSE:GLF) Director David Butters unloaded 20,000 shares of the stock on the open market in a transaction that occurred on Wednesday, September 25th. The shares were sold at an average price of $51.35, for a total transaction of $1,027,000.00. Following the completion of the transaction, the director now directly owns 501,457 shares of the company’s stock, valued at approximately $25,749,817. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Shares of Gulfmark Offshore (NYSE:GLF) traded up 1.16% during mid-day trading on Wednesday, hitting $51.54. 154,281 shares of the company’s stock traded hands. Gulfmark Offshore has a 1-year low of $27.17 and a 1-year high of $52.22. The stock has a 50-day moving average of $48.97 and a 200-day moving average of $44.98. The company has a market cap of $1.367 billion and a price-to-earnings ratio of 64.01.
Gulfmark Offshore (NYSE:GLF) last announced its earnings results on Monday, July 22nd. The company reported $0.38 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.30 by $0.08. The company had revenue of $111.35 million for the quarter, compared to the consensus estimate of $105.60 million. During the same quarter last year, the company posted $0.53 earnings per share. Gulfmark Offshore’s revenue was up 6.2% compared to the same quarter last year. Analysts expect that Gulfmark Offshore will post $2.60 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Thursday, September 26th. Shareholders of record on Tuesday, September 17th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.96%. The ex-dividend date is Friday, September 13th.
A number of analysts have recently weighed in on GLF shares. Analysts at Sidoti initiated coverage on shares of Gulfmark Offshore (NYSE:GLF) in a research note to investors on Thursday, September 5th. They set a “buy” rating on the stock. Separately, analysts at Zacks downgraded shares of Gulfmark Offshore (NYSE:GLF) from an “outperform” rating to a “neutral” rating in a research note to investors on Wednesday, September 4th. They now have a $53.70 price target on the stock. Finally, analysts at Zacks upgraded shares of Gulfmark Offshore (NYSE:GLF) from a “neutral” rating to an “outperform” rating in a research note to investors on Wednesday, July 31st. They now have a $51.70 price target on the stock. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Gulfmark Offshore presently has an average rating of “Buy” and a consensus price target of $50.71.
GulfMark Offshore, Inc provides offshore marine services primarily to companies involved in the offshore exploration and production of oil and natural gas.
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