Hornbeck Offshore Services (HOS) Raised to “Hold” at Zacks Investment Research

Zacks Investment Research upgraded shares of Hornbeck Offshore Services (NYSE:HOS) from a sell rating to a hold rating in a report released on Thursday 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 shares of Hornbeck Offshore Services from a sell rating to a hold rating in a report on Friday, March 1st.

Shares of HOS opened at $1.39 on Thursday. The company has a market capitalization of $52.40 million, a PE ratio of -0.42 and a beta of 2.29. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.86 and a quick ratio of 2.25. Hornbeck Offshore Services has a fifty-two week low of $1.02 and a fifty-two week high of $6.14.

Hornbeck Offshore Services (NYSE:HOS) last announced its quarterly earnings data on Wednesday, February 13th. The oil and gas company reported ($0.79) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.85) by $0.06. The firm had revenue of $53.92 million during the quarter, compared to analyst estimates of $57.10 million. Hornbeck Offshore Services had a negative net margin of 56.08% and a negative return on equity of 9.09%. Equities research analysts expect that Hornbeck Offshore Services will post -2.6 earnings per share for the current year.

Institutional investors and hedge funds have recently made changes to their positions in the company. Northern Trust Corp raised its holdings in Hornbeck Offshore Services by 18.5% during the 2nd quarter. Northern Trust Corp now owns 129,572 shares of the oil and gas company’s stock valued at $513,000 after buying an additional 20,256 shares during the last quarter. Bridgeway Capital Management Inc. bought a new stake in Hornbeck Offshore Services during the 3rd quarter valued at $671,000. Renaissance Technologies LLC raised its holdings in Hornbeck Offshore Services by 36.8% during the 3rd quarter. Renaissance Technologies LLC now owns 681,540 shares of the oil and gas company’s stock valued at $4,007,000 after buying an additional 183,500 shares during the last quarter. Mackenzie Financial Corp raised its holdings in Hornbeck Offshore Services by 13.7% during the 3rd quarter. Mackenzie Financial Corp now owns 1,932,909 shares of the oil and gas company’s stock valued at $11,366,000 after buying an additional 232,909 shares during the last quarter. Finally, Vanguard Group Inc. raised its holdings in Hornbeck Offshore Services by 20.0% during the 3rd quarter. Vanguard Group Inc. now owns 1,476,554 shares of the oil and gas company’s stock valued at $8,682,000 after buying an additional 246,050 shares during the last quarter. Hedge funds and other institutional investors own 63.42% 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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