Hercules Offshore -14% after fleet status report, Global Hunter downgrade


Hercules Offshore (HERO -14.1%) plunges after Global Hunter downgrades shares to Neutral from Buy and lowers its target price to $6 from $12 after HERO released its monthly fleet status report.

The firm says it failed to see any of the three key items it was looking for in the report: meaningful contracts for the Discovery rigs; a tick higher in Gulf of Mexico dayrates; and Pemex recontracting several of the legacy jackups set to roll in 2014, indicating to the market that its newbuild awards are not solely replacement rigs but rather incremental.

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Comments (3)
  • Skaterdude
    , contributor
    Comments (1736) | Send Message
     
    This stock had not been on my radar, so just took a look at a summary report. Shares outstanding climbing fairly rapidly, book value declining, and sales per share declining all over the past 4 years. I'm no expert in this industry, but I don't understand why it was on anyone's "buy" list to begin with! I have no positions in it and don't plan to put any on. I just find it odd that people continue to invest in companies like this when there are so many other choices.
    23 Jan 2014, 11:52 AM Reply Like
  • batistuta
    , contributor
    Comments (2) | Send Message
     
    Skaterdude
    Comments (308)
    How do you know, that has some companies that can tell me if they are good?
    23 Jan 2014, 04:41 PM Reply Like
  • batistuta
    , contributor
    Comments (2) | Send Message
     
    Skaterdude.

     

    TravelCenters of America LLC:Can you tell me if it's a good bet at current prices?
    23 Jan 2014, 04:41 PM Reply Like
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