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 Thursday 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 raised shares of Hornbeck Offshore Services from a sell rating to a hold rating in a research report on Friday, March 1st.
NYSE:HOS opened at $1.39 on Thursday. The stock has a market capitalization of $52.40 million, a PE ratio of -0.42 and a beta of 2.29. The company has a current ratio of 1.86, a quick ratio of 2.25 and a debt-to-equity ratio of 0.86. Hornbeck Offshore Services has a 1-year low of $1.02 and a 1-year high of $6.14.
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 for the quarter, topping the Zacks’ 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 net margin of 56.08% and a negative return on equity of 9.09%. On average, analysts forecast that Hornbeck Offshore Services will post -2.6 EPS for the current fiscal year.
Several large investors have recently added to or reduced their stakes in the company. Acadian Asset Management LLC lifted its stake in shares of Hornbeck Offshore Services by 72.1% in the 4th quarter. Acadian Asset Management LLC now owns 48,390 shares of the oil and gas company’s stock worth $70,000 after purchasing an additional 20,267 shares during the period. Bank of New York Mellon Corp raised its stake in Hornbeck Offshore Services by 210.6% during the 4th quarter. Bank of New York Mellon Corp now owns 63,888 shares of the oil and gas company’s stock worth $92,000 after acquiring an additional 43,317 shares during the period. Municipal Employees Retirement System of Michigan bought a new stake in Hornbeck Offshore Services during the 4th quarter worth approximately $153,000. Northern Trust Corp raised its stake in 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 during the period. Finally, Bridgeway Capital Management Inc. bought a new stake in Hornbeck Offshore Services during the 3rd quarter worth approximately $671,000. 63.42% of the stock is currently owned by hedge funds and other 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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