Zacks Investment Research Lowers Hornbeck Offshore Services (HOS) 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 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 upgraded Hornbeck Offshore Services from a “strong sell” rating to a “sell” rating in a research note on Thursday, November 9th. Three investment analysts have rated the stock with a sell rating and three have issued a hold rating to the stock. The company currently has an average rating of “Hold” and an average price target of $3.33.

Hornbeck Offshore Services (NYSE:HOS) traded down $0.02 on Friday, reaching $3.40. The company had a trading volume of 255,176 shares, compared to its average volume of 392,556. Hornbeck Offshore Services has a 12-month low of $1.51 and a 12-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 firm has a market cap of $125.97, a price-to-earnings ratio of -1.46 and a beta of 1.29.

Hornbeck Offshore Services (NYSE:HOS) last issued its quarterly earnings results on Wednesday, November 1st. The oil and gas company reported ($0.51) 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 company had revenue of $53.70 million during the quarter, compared to analyst estimates of $41.25 million. During the same period in the previous year, the company earned ($0.45) earnings per share. The company’s quarterly revenue was up 3.5% compared to the same quarter last year. research analysts expect that Hornbeck Offshore Services will post -2.92 EPS for the current year.

Large investors have recently made changes to their positions in the business. MML Investors Services LLC grew its position in Hornbeck Offshore Services by 17.3% in the second quarter. MML Investors Services LLC now owns 54,300 shares of the oil and gas company’s stock valued at $154,000 after acquiring an additional 8,000 shares during the period. Brandes Investment Partners LP grew its holdings in shares of Hornbeck Offshore Services by 316.7% during the third quarter. Brandes Investment Partners LP now owns 66,503 shares of the oil and gas company’s stock worth $269,000 after purchasing an additional 50,545 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of Hornbeck Offshore Services by 86.3% during the second quarter. Goldman Sachs Group Inc. now owns 117,476 shares of the oil and gas company’s stock worth $332,000 after purchasing an additional 54,431 shares during the last quarter. Balyasny Asset Management LLC bought a new stake in shares of Hornbeck Offshore Services during the second quarter worth $568,000. Finally, KBC Group NV grew its holdings in shares of Hornbeck Offshore Services by 20.9% during the third quarter. KBC Group NV now owns 208,249 shares of the oil and gas company’s stock worth $841,000 after purchasing an additional 35,934 shares during the last quarter. Hedge funds and other institutional investors own 77.54% of the company’s stock.

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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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