Zacks Investment Research Downgrades Hornbeck Offshore Services (HOS) to Sell

Zacks Investment Research downgraded shares of Hornbeck Offshore Services (NYSE:HOS) from a hold rating to a sell rating in a research report report published on Tuesday morning.

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. “

Separately, ValuEngine upgraded Hornbeck Offshore Services from a hold rating to a buy rating in a research note on Wednesday, September 26th.

NYSE HOS opened at $1.65 on Tuesday. Hornbeck Offshore Services has a fifty-two week low of $1.02 and a fifty-two week high of $6.14. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.07 and a current ratio of 1.07. The stock has a market cap of $65.04 million, a price-to-earnings ratio of -0.66 and a beta of 2.42.

Hornbeck Offshore Services (NYSE:HOS) last posted its earnings results on Wednesday, October 31st. The oil and gas company reported ($0.78) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.70) by ($0.08). Hornbeck Offshore Services had a negative net margin of 0.54% and a negative return on equity of 7.90%. The company had revenue of $58.47 million for the quarter, compared to the consensus estimate of $61.23 million. Analysts anticipate that Hornbeck Offshore Services will post -3.18 earnings per share for the current fiscal year.

Institutional investors have recently bought and sold shares of the company. Northern Trust Corp increased its stake in shares of Hornbeck Offshore Services by 18.5% in the second quarter. Northern Trust Corp now owns 129,572 shares of the oil and gas company’s stock worth $513,000 after purchasing an additional 20,256 shares during the period. Bridgeway Capital Management Inc. bought a new position in shares of Hornbeck Offshore Services in the third quarter worth about $671,000. Renaissance Technologies LLC increased its stake in shares of Hornbeck Offshore Services by 100.4% in the second quarter. Renaissance Technologies LLC now owns 498,040 shares of the oil and gas company’s stock worth $1,972,000 after purchasing an additional 249,500 shares during the period. Vanguard Group Inc increased its stake in shares of Hornbeck Offshore Services by 20.0% in the third quarter. Vanguard Group Inc now owns 1,476,554 shares of the oil and gas company’s stock worth $8,682,000 after purchasing an additional 246,050 shares during the period. Finally, Vanguard Group Inc. increased its stake in shares of Hornbeck Offshore Services by 20.0% in the third quarter. Vanguard Group Inc. now owns 1,476,554 shares of the oil and gas company’s stock worth $8,682,000 after purchasing an additional 246,050 shares during the period. Institutional investors and hedge funds own 62.47% of the company’s stock.

Hornbeck Offshore Services Company Profile

Hornbeck Offshore Services, Inc, together with its subsidiaries, provides marine transportation, subsea installation, and accommodation support services to exploration and production, oilfield service, offshore construction, and the United States military customers. It operates offshore supply vessels (OSVs), multi-purpose support vessels (MPSVs), and a shore-based facility to provide logistics support and specialty services to the offshore oil and gas exploration and production industry, primarily in the U.S.

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