Hornbeck Offshore Services (HOS) Upgraded at Zacks Investment Research

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 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 raised Hornbeck Offshore Services from a “sell” rating to a “hold” rating in a research note on Friday, March 1st.

Hornbeck Offshore Services stock remained flat at $$1.47 during mid-day trading on Thursday. The company’s stock had a trading volume of 135,828 shares, compared to its average volume of 216,757. The company has a quick ratio of 2.25, a current ratio of 1.86 and a debt-to-equity ratio of 0.86. The company has a market cap of $55.04 million, a P/E ratio of -0.45 and a beta of 2.29. Hornbeck Offshore Services has a 52-week low of $1.02 and a 52-week high of $6.14.

Hornbeck Offshore Services (NYSE:HOS) last announced its earnings results on Wednesday, February 13th. The oil and gas company reported ($0.79) earnings per share for the quarter, beating the consensus estimate of ($0.85) by $0.06. The firm had revenue of $53.92 million for the quarter, compared to the consensus estimate 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 -2.6 earnings per share for the current year.

Several institutional investors and hedge funds have recently bought and sold shares of HOS. Northern Trust Corp raised its stake in shares of Hornbeck Offshore Services by 18.5% in the 2nd quarter. Northern Trust Corp now owns 129,572 shares of the oil and gas company’s stock worth $513,000 after buying an additional 20,256 shares in the last quarter. Bridgeway Capital Management Inc. bought a new stake in shares of Hornbeck Offshore Services in the 3rd quarter worth $671,000. Renaissance Technologies LLC raised its stake in shares of Hornbeck Offshore Services by 36.8% in the 3rd quarter. Renaissance Technologies LLC now owns 681,540 shares of the oil and gas company’s stock worth $4,007,000 after buying an additional 183,500 shares in the last quarter. Mackenzie Financial Corp raised its stake in shares of Hornbeck Offshore Services by 13.7% in 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 buying an additional 232,909 shares in the last quarter. Finally, Vanguard Group Inc. raised its stake in shares of Hornbeck Offshore Services by 20.0% in 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 buying an additional 246,050 shares in the last quarter. 63.42% 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 in the U.S.

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