Zacks Investment Research Lowers Hornbeck Offshore Services (HOS) to Hold

Zacks Investment Research lowered shares of Hornbeck Offshore Services (NYSE:HOS) from a buy rating to a hold rating in a research report sent to investors on Wednesday 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. “

Several other brokerages have also issued reports on HOS. ValuEngine lowered shares of Hornbeck Offshore Services from a sell rating to a strong sell rating in a research report on Wednesday, October 18th. Seaport Global Securities reiterated a neutral rating on shares of Hornbeck Offshore Services in a research report on Monday, August 7th. Finally, Piper Jaffray Companies reiterated a hold rating and issued a $3.50 target price on shares of Hornbeck Offshore Services in a research report on Thursday, August 3rd. One equities research analyst has rated the stock with a sell rating and four have issued a hold rating to the stock. Hornbeck Offshore Services currently has a consensus rating of Hold and an average price target of $4.00.

Shares of Hornbeck Offshore Services (NYSE:HOS) opened at $4.32 on Wednesday. Hornbeck Offshore Services has a 52-week low of $1.51 and a 52-week high of $9.07. The company has a debt-to-equity ratio of 0.75, a quick ratio of 3.57 and a current ratio of 3.61.

Hornbeck Offshore Services (NYSE:HOS) last announced its earnings results on Wednesday, November 1st. The oil and gas company reported ($0.51) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.73) by $0.22. Hornbeck Offshore Services had a negative net margin of 48.34% and a negative return on equity of 7.00%. The business had revenue of $53.70 million for the quarter, compared to analyst estimates of $41.25 million. During the same quarter last year, the business earned ($0.45) earnings per share. The company’s revenue for the quarter was up 3.5% compared to the same quarter last year. sell-side analysts expect that Hornbeck Offshore Services will post -3 EPS for the current year.

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A number of institutional investors and hedge funds have recently bought and sold shares of HOS. Parametric Portfolio Associates LLC boosted its position in Hornbeck Offshore Services by 67.7% during the first quarter. Parametric Portfolio Associates LLC now owns 234,487 shares of the oil and gas company’s stock worth $1,039,000 after acquiring an additional 94,690 shares during the last quarter. OppenheimerFunds Inc. boosted its position in Hornbeck Offshore Services by 128.6% during the first quarter. OppenheimerFunds Inc. now owns 50,441 shares of the oil and gas company’s stock worth $224,000 after acquiring an additional 28,373 shares during the last quarter. Principal Financial Group Inc. boosted its position in Hornbeck Offshore Services by 3.9% during the first quarter. Principal Financial Group Inc. now owns 246,688 shares of the oil and gas company’s stock worth $1,093,000 after acquiring an additional 9,280 shares during the last quarter. California Public Employees Retirement System boosted its position in Hornbeck Offshore Services by 14.1% during the first quarter. California Public Employees Retirement System now owns 355,400 shares of the oil and gas company’s stock worth $1,574,000 after acquiring an additional 44,000 shares during the last quarter. Finally, Vanguard Group Inc. boosted its position in Hornbeck Offshore Services by 3.6% during the first quarter. Vanguard Group Inc. now owns 1,817,179 shares of the oil and gas company’s stock worth $8,050,000 after acquiring an additional 62,489 shares during the last quarter. Hedge funds and other institutional investors own 86.61% of the company’s stock.

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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