Hornbeck Offshore Services (NYSE:HOS) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Wednesday, Zacks.com reports.
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 “sell” rating to a “hold” rating in a research report on Friday, March 1st.
Shares of HOS opened at $1.32 on Wednesday. The company has a debt-to-equity ratio of 0.94, a quick ratio of 2.76 and a current ratio of 2.76. 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 results on Wednesday, May 1st. The oil and gas company reported ($0.97) earnings per share for the quarter, missing the consensus estimate of ($0.91) by ($0.06). The company had revenue of $54.04 million for the quarter, compared to analyst estimates of $61.70 million. Hornbeck Offshore Services had a negative return on equity of 9.16% and a negative net margin of 52.07%. Equities analysts forecast that Hornbeck Offshore Services will post -2.77 earnings per share for the current fiscal year.
A number of institutional investors and hedge funds have recently made changes to their positions in HOS. Deutsche Bank AG grew its position in Hornbeck Offshore Services by 650.2% during the 4th quarter. Deutsche Bank AG now owns 498,894 shares of the oil and gas company’s stock worth $718,000 after purchasing an additional 432,394 shares during the period. Vanguard Group Inc. grew its position 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 worth $8,682,000 after purchasing an additional 246,050 shares during the period. Municipal Employees Retirement System of Michigan acquired a new stake in shares of Hornbeck Offshore Services during the 4th quarter valued at about $153,000. Acadian Asset Management LLC grew its position in shares of Hornbeck Offshore Services by 198.3% during the 1st quarter. Acadian Asset Management LLC now owns 144,331 shares of the oil and gas company’s stock valued at $179,000 after acquiring an additional 95,941 shares during the period. Finally, Bank of New York Mellon Corp grew its position in shares of Hornbeck Offshore Services by 210.6% during the 4th quarter. Bank of New York Mellon Corp now owns 63,888 shares of the oil and gas company’s stock valued at $92,000 after acquiring an additional 43,317 shares during the period. 55.31% of the stock is currently owned by institutional investors.
About Hornbeck Offshore Services
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 Gulf of Mexico in the U.S., Latin America, and internationally.
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