Hornbeck Offshore Services (HOS) Upgraded to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of Hornbeck Offshore Services (NYSE:HOS) from a sell rating to a hold rating in a research report sent to investors on Monday.

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. “

HOS has been the topic of several other research reports. Piper Jaffray Companies reaffirmed a hold rating and issued a $3.50 price target on shares of Hornbeck Offshore Services in a research report on Thursday, August 3rd. Seaport Global Securities reaffirmed a neutral rating on shares of Hornbeck Offshore Services in a research report on Monday, August 7th. Finally, ValuEngine raised shares of Hornbeck Offshore Services from a strong sell rating to a sell rating in a research report on Friday, September 1st. One investment analyst has rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. The stock has an average rating of Hold and an average price target of $4.75.

Shares of Hornbeck Offshore Services (HOS) opened at 3.10 on Monday. Hornbeck Offshore Services has a 12-month low of $1.51 and a 12-month high of $9.07. The company’s market cap is $114.79 million. The company’s 50-day moving average price is $2.62 and its 200 day moving average price is $2.97.

Hornbeck Offshore Services (NYSE:HOS) last announced its quarterly earnings results on Wednesday, August 2nd. The oil and gas company reported ($0.82) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.79) by $0.03. Hornbeck Offshore Services had a negative net margin of 47.42% and a negative return on equity of 6.72%. The business had revenue of $37.40 million during the quarter, compared to the consensus estimate of $37.13 million. During the same period in the previous year, the business posted ($0.57) EPS. Hornbeck Offshore Services’s revenue was down 30.4% compared to the same quarter last year. Equities analysts predict that Hornbeck Offshore Services will post ($2.98) earnings per share for the current year.

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Several institutional investors have recently bought and sold shares of the business. Raging Capital Management LLC lifted its position in shares of Hornbeck Offshore Services by 103.3% during the 1st quarter. Raging Capital Management LLC now owns 3,595,000 shares of the oil and gas company’s stock worth $15,926,000 after buying an additional 1,826,480 shares in the last quarter. Mackenzie Financial Corp lifted its position in shares of Hornbeck Offshore Services by 17.2% during the 1st quarter. Mackenzie Financial Corp now owns 2,253,000 shares of the oil and gas company’s stock worth $9,981,000 after buying an additional 331,000 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Hornbeck Offshore Services by 3.6% during the 1st quarter. Vanguard Group Inc. now owns 1,817,179 shares of the oil and gas company’s stock worth $8,050,000 after buying an additional 62,489 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of Hornbeck Offshore Services by 260.1% during the 1st quarter. Bank of New York Mellon Corp now owns 1,634,675 shares of the oil and gas company’s stock worth $7,241,000 after buying an additional 1,180,699 shares in the last quarter. Finally, D.C. Capital Advisors Ltd lifted its position in shares of Hornbeck Offshore Services by 23.7% during the 2nd quarter. D.C. Capital Advisors Ltd now owns 1,250,000 shares of the oil and gas company’s stock worth $3,538,000 after buying an additional 239,832 shares in the last quarter. 86.67% of the stock is currently owned by hedge funds and other institutional investors.

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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