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

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

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 buy rating to a strong-buy rating in a research note on Tuesday, October 2nd.

NYSE HOS traded down $0.02 on Tuesday, reaching $1.61. The stock had a trading volume of 70,282 shares, compared to its average volume of 404,835. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.07 and a quick ratio of 1.07. Hornbeck Offshore Services has a 1 year low of $1.02 and a 1 year high of $6.14. The company has a market capitalization of $65.04 million, a P/E ratio of -0.64 and a beta of 2.42.

Hornbeck Offshore Services (NYSE:HOS) last issued its earnings results on Wednesday, October 31st. The oil and gas company reported ($0.78) EPS for the quarter, missing analysts’ consensus estimates of ($0.70) by ($0.08). Hornbeck Offshore Services had a negative net margin of 0.54% and a negative return on equity of 7.90%. The firm had revenue of $58.47 million during the quarter, compared to analysts’ expectations of $61.23 million. On average, equities analysts anticipate that Hornbeck Offshore Services will post -3.18 EPS for the current year.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bridgeway Capital Management Inc. bought a new stake in shares of Hornbeck Offshore Services during the 3rd quarter worth about $671,000. Mackenzie Financial Corp boosted its stake in shares of Hornbeck Offshore Services by 13.7% during the 3rd quarter. Mackenzie Financial Corp now owns 1,932,909 shares of the oil and gas company’s stock worth $11,366,000 after acquiring an additional 232,909 shares in the last quarter. Renaissance Technologies LLC boosted its stake in shares of Hornbeck Offshore Services by 100.4% during the 2nd quarter. Renaissance Technologies LLC now owns 498,040 shares of the oil and gas company’s stock worth $1,972,000 after acquiring an additional 249,500 shares in the last quarter. Northern Trust Corp boosted its stake in shares of Hornbeck Offshore Services by 18.5% during the 2nd quarter. Northern Trust Corp now owns 129,572 shares of the oil and gas company’s stock worth $513,000 after acquiring an additional 20,256 shares in the last quarter. Finally, Vanguard Group Inc boosted its stake in shares of 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 acquiring an additional 246,050 shares in the last quarter. Institutional investors own 62.47% of the company’s stock.

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 in the U.S.

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