Hornbeck Offshore Services (HOS) Stock Rating Upgraded by Zacks Investment Research

Hornbeck Offshore Services (NYSE:HOS) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Thursday.

According to Zacks, “Hornbeck Offshore provides technologically advanced, new generation OSVs serving the offshore oil and gas industry, primarily in the U.S. Gulf of Mexico and in select international markets. The focus of their OSV business is on complex exploration and production activities, which include deepwater, deep well and other logistically demanding projects. They also transport petroleum products through their tug and tank barge segment serving the energy industry, primarily in the northeastern United States and Puerto Rico. “

Several other equities research analysts have also issued reports on HOS. ValuEngine lowered shares of Hornbeck Offshore Services from a “sell” rating to a “strong sell” rating in a report on Friday, June 2nd. Seaport Global Securities lowered shares of Hornbeck Offshore Services from a “buy” rating to a “neutral” rating in a report on Friday, June 2nd. Finally, Piper Jaffray Companies reaffirmed a “hold” rating and issued a $3.50 target price on shares of Hornbeck Offshore Services in a report on Thursday, August 3rd. One research analyst has rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $4.75.

Shares of Hornbeck Offshore Services (HOS) traded up 5.49% during mid-day trading on Thursday, reaching $4.23. 770,045 shares of the company traded hands. Hornbeck Offshore Services has a 52-week low of $1.51 and a 52-week high of $9.07. The stock’s 50 day moving average is $2.79 and its 200 day moving average is $2.93. The stock’s market capitalization is $156.63 million.

Hornbeck Offshore Services (NYSE:HOS) last announced its quarterly earnings results on Wednesday, August 2nd. The oil and gas company reported ($0.82) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.79) by ($0.03). The business had revenue of $37.40 million during the quarter, compared to the consensus estimate of $37.13 million. Hornbeck Offshore Services had a negative net margin of 47.42% and a negative return on equity of 6.72%. The company’s quarterly revenue was down 30.4% compared to the same quarter last year. During the same period last year, the firm earned ($0.57) EPS. On average, analysts anticipate that Hornbeck Offshore Services will post ($3.06) earnings per share for the current year.

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Several institutional investors and hedge funds have recently bought and sold shares of the company. Raging Capital Management LLC grew its holdings in shares of Hornbeck Offshore Services by 103.3% in the 1st quarter. Raging Capital Management LLC now owns 3,595,000 shares of the oil and gas company’s stock worth $15,926,000 after purchasing an additional 1,826,480 shares during the last quarter. Mackenzie Financial Corp grew its holdings in shares of Hornbeck Offshore Services by 17.2% in the 1st quarter. Mackenzie Financial Corp now owns 2,253,000 shares of the oil and gas company’s stock worth $9,981,000 after purchasing an additional 331,000 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Hornbeck Offshore Services by 3.6% in the 1st quarter. Vanguard Group Inc. now owns 1,817,179 shares of the oil and gas company’s stock worth $8,050,000 after purchasing an additional 62,489 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Hornbeck Offshore Services by 260.1% in the 1st quarter. Bank of New York Mellon Corp now owns 1,634,675 shares of the oil and gas company’s stock worth $7,241,000 after purchasing an additional 1,180,699 shares during the last quarter. Finally, D.C. Capital Advisors Ltd grew its holdings in shares of Hornbeck Offshore Services by 23.7% in the 2nd quarter. D.C. Capital Advisors Ltd now owns 1,250,000 shares of the oil and gas company’s stock worth $3,538,000 after purchasing an additional 239,832 shares during the last quarter. 86.67% of the stock is currently owned by institutional investors and hedge funds.

About Hornbeck Offshore Services

Hornbeck Offshore Services Inc provides marine transportation, subsea installation and accommodation support services to exploration and production, oilfield service, offshore construction and the United States military customers. The Company focuses on providing marine solutions for the deepwater and ultradeepwater energy industry in domestic and select foreign locations.

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