Hornbeck Offshore Services (HOS) Rating Lowered to Sell at Zacks Investment Research

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, January 5th.

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 lowered shares of Hornbeck Offshore Services from a “sell” rating to a “strong sell” rating in a report on Wednesday, November 15th. Three analysts have rated the stock with a sell rating and three have given a hold rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $4.00.

Shares of Hornbeck Offshore Services (HOS) opened at $3.85 on Friday. The company has a quick ratio of 3.61, a current ratio of 3.61 and a debt-to-equity ratio of 0.75. Hornbeck Offshore Services has a one year low of $1.51 and a one year high of $8.52.

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

Hedge funds and other institutional investors have recently bought and sold shares of the stock. MML Investors Services LLC boosted its holdings in 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 during the last quarter. Brandes Investment Partners LP boosted its holdings in 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 during the last quarter. Goldman Sachs Group Inc. boosted its holdings in 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 during the last quarter. Balyasny Asset Management LLC purchased a new position in Hornbeck Offshore Services during the 2nd quarter worth $568,000. Finally, KBC Group NV boosted its holdings in 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 during the last quarter. 77.54% of the stock is owned by institutional investors and hedge funds.

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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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