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 note issued on Thursday.

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 cut Hornbeck Offshore Services from a “hold” rating to a “sell” rating in a research note on Thursday, February 7th.

NYSE:HOS opened at $1.63 on Thursday. The firm has a market capitalization of $59.67 million, a P/E ratio of -0.50 and a beta of 2.16. Hornbeck Offshore Services has a 12-month low of $1.02 and a 12-month high of $6.14. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.86.

Hornbeck Offshore Services (NYSE:HOS) last released its earnings results on Wednesday, February 13th. The oil and gas company reported ($0.79) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.85) by $0.06. The firm had revenue of $53.92 million during the quarter, compared to analyst estimates of $57.10 million. Hornbeck Offshore Services had a negative return on equity of 9.09% and a negative net margin of 56.08%. Equities research analysts predict that Hornbeck Offshore Services will post -2.32 earnings per share for the current year.

A number of institutional investors have recently bought and sold shares of HOS. Acadian Asset Management LLC raised its stake in Hornbeck Offshore Services by 72.1% in the fourth quarter. Acadian Asset Management LLC now owns 48,390 shares of the oil and gas company’s stock valued at $70,000 after buying an additional 20,267 shares in the last quarter. Bank of New York Mellon Corp raised its stake in Hornbeck Offshore Services by 210.6% in the fourth 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 buying an additional 43,317 shares in the last quarter. Municipal Employees Retirement System of Michigan acquired a new stake in Hornbeck Offshore Services in the fourth quarter valued at $153,000. Northern Trust Corp raised its stake in Hornbeck Offshore Services by 18.5% in the second quarter. Northern Trust Corp now owns 129,572 shares of the oil and gas company’s stock valued at $513,000 after buying an additional 20,256 shares in the last quarter. Finally, Bridgeway Capital Management Inc. acquired a new stake in Hornbeck Offshore Services in the third quarter valued at $671,000. Institutional investors own 61.99% 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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