Hercules Offshore Director Acquires $203,000 in Stock (HERO)
Hercules Offshore (NASDAQ:HERO) Director Steven A. Webster purchased 50,000 shares of the company’s stock in a transaction that occurred on Monday, June 23rd. The shares were purchased at an average cost of $4.06 per share, with a total value of $203,000.00. Following the completion of the acquisition, the director now directly owns 1,565,140 shares of the company’s stock, valued at approximately $6,354,468. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
Several analysts have recently commented on the stock. Analysts at Goldman Sachs downgraded shares of Hercules Offshore from a “neutral” rating to a “sell” rating in a research note on Monday. They now have a $3.60 price target on the stock, down previously from $4.36. Separately, analysts at Iberia Capital downgraded shares of Hercules Offshore from an “outperform” rating to a “sector perform” rating in a research note on Friday, June 20th. Finally, analysts at Cowen and Company cut their price target on shares of Hercules Offshore from $7.00 to $6.50 in a research note on Friday, June 20th. They now have an “outperform” rating on the stock. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $6.78.
Shares of Hercules Offshore (NASDAQ:HERO) traded up 2.92% on Wednesday, hitting $4.055. The stock had a trading volume of 6,273,657 shares. Hercules Offshore has a 1-year low of $3.90 and a 1-year high of $7.96. The stock’s 50-day moving average is $4.53 and its 200-day moving average is $4.92. The company’s market cap is $651.4 million.
Hercules Offshore (NASDAQ:HERO) last issued its quarterly earnings data on Wednesday, April 23rd. The company reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.14 by $0.02. The company had revenue of $256.73 million for the quarter, compared to the consensus estimate of $263.82 million. During the same quarter in the previous year, the company posted ($0.02) earnings per share. The company’s revenue for the quarter was up 37.9% on a year-over-year basis. On average, analysts predict that Hercules Offshore will post $0.43 earnings per share for the current fiscal year.
Hercules Offshore, Inc (NASDAQ:HERO) provides shallow-water drilling and marine services to the oil and natural gas exploration and production industry globally.
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