Hornbeck Offshore Services (HOS) Sees Strong Trading Volume

Hornbeck Offshore Services (NYSE:HOS) saw an uptick in trading volume on Wednesday . 1,620,961 shares were traded during mid-day trading, an increase of 165% from the previous session’s volume of 610,918 shares.The stock last traded at $4.10 and had previously closed at $4.03.

A number of brokerages have recently issued reports on HOS. Zacks Investment Research upgraded shares of Hornbeck Offshore Services from a “sell” rating to a “hold” rating in a report on Friday, September 1st. Piper Jaffray Companies reissued a “hold” rating and issued a $3.50 price objective on shares of Hornbeck Offshore Services in a research note on Thursday, August 3rd. Seaport Global Securities reissued a “neutral” rating on shares of Hornbeck Offshore Services in a research note on Monday, August 7th. Finally, ValuEngine raised shares of Hornbeck Offshore Services from a “strong sell” rating to a “sell” rating in a research note on Friday, September 1st. One research analyst has rated the stock with a sell rating and four have given a hold rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $3.50.

Hornbeck Offshore Services (NYSE:HOS) last issued its quarterly earnings data on Wednesday, August 2nd. The oil and gas company reported ($0.82) earnings per share for the quarter, missing analysts’ consensus estimates 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 company had revenue of $37.40 million for the quarter, compared to the consensus estimate of $37.13 million. During the same quarter in the prior year, the firm earned ($0.57) earnings per share. Hornbeck Offshore Services’s revenue for the quarter was down 30.4% compared to the same quarter last year.

A number of institutional investors have recently modified their holdings of the business. Raging Capital Management LLC raised its position in Hornbeck Offshore Services by 103.3% in the first quarter. Raging Capital Management LLC now owns 3,595,000 shares of the oil and gas company’s stock worth $15,926,000 after acquiring an additional 1,826,480 shares in the last quarter. Vanguard Group Inc. raised its position in Hornbeck Offshore Services by 3.6% in 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 in the last quarter. Bank of New York Mellon Corp raised its position in Hornbeck Offshore Services by 260.1% in the first 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 acquiring an additional 1,180,699 shares in the last quarter. D.C. Capital Advisors Ltd raised its position in Hornbeck Offshore Services by 23.7% in the second 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 acquiring an additional 239,832 shares in the last quarter. Finally, Caspian Capital LP bought a new stake in Hornbeck Offshore Services in the second quarter worth about $2,147,000. Hedge funds and other institutional investors own 86.67% 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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