Hornbeck Offshore Services (HOS) Downgraded by Zacks Investment Research to “Sell”

Hornbeck Offshore Services (NYSE:HOS) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Friday.

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 raised Hornbeck Offshore Services from a “strong sell” rating to a “sell” rating in a research note on Thursday, November 9th. Two equities research analysts have rated the stock with a sell rating and three have issued a hold rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $4.00.

Hornbeck Offshore Services (HOS) traded down $0.17 during midday trading on Friday, reaching $3.78. The company had a trading volume of 554,398 shares, compared to its average volume of 631,025. Hornbeck Offshore Services has a twelve month low of $1.51 and a twelve month high of $8.52. The company has a current ratio of 3.61, a quick ratio of 3.61 and a debt-to-equity ratio of 0.75. The company has a market cap of $146.35, a PE ratio of -1.62 and a beta of 1.29.

Hornbeck Offshore Services (NYSE:HOS) last posted its earnings results on Wednesday, November 1st. The oil and gas company reported ($0.51) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.73) by $0.22. Hornbeck Offshore Services had a negative return on equity of 7.00% and a negative net margin of 48.34%. The business had revenue of $53.70 million during the quarter, compared to analysts’ expectations of $41.25 million. During the same period in the prior year, the business earned ($0.45) EPS. Hornbeck Offshore Services’s revenue for the quarter was up 3.5% compared to the same quarter last year. analysts anticipate that Hornbeck Offshore Services will post -2.92 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently modified their holdings of the company. MML Investors Services LLC grew its stake in shares of Hornbeck Offshore Services by 17.3% during the 2nd quarter. MML Investors Services LLC now owns 54,300 shares of the oil and gas company’s stock worth $154,000 after acquiring an additional 8,000 shares in the last quarter. KBC Group NV grew its stake in shares of Hornbeck Offshore Services by 20.9% during the 3rd quarter. KBC Group NV now owns 208,249 shares of the oil and gas company’s stock worth $841,000 after acquiring an additional 35,934 shares in the last quarter. Brandes Investment Partners LP grew its stake in shares of Hornbeck Offshore Services by 316.7% during the 3rd quarter. Brandes Investment Partners LP now owns 66,503 shares of the oil and gas company’s stock worth $269,000 after acquiring an additional 50,545 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Hornbeck Offshore Services by 86.3% during the 2nd quarter. Goldman Sachs Group Inc. now owns 117,476 shares of the oil and gas company’s stock worth $332,000 after acquiring an additional 54,431 shares in the last quarter. Finally, California Public Employees Retirement System grew its stake in shares of Hornbeck Offshore Services by 26.0% during the 3rd quarter. California Public Employees Retirement System now owns 632,673 shares of the oil and gas company’s stock worth $2,556,000 after acquiring an additional 130,373 shares in the last quarter. 77.54% of the stock is owned by institutional investors.

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Hornbeck Offshore Services Company Profile

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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