Hornbeck Offshore Services (HOS) Sees Unusually-High Trading Volume
Shares of Hornbeck Offshore Services (NYSE:HOS) saw strong trading volume on Friday . 2,043,786 shares changed hands during mid-day trading, an increase of 99% from the previous session’s volume of 1,029,044 shares.The stock last traded at $6.01 and had previously closed at $6.33.
A number of analysts have recently weighed in on the stock. Iberia Capital cut shares of Hornbeck Offshore Services from a “sector perform” rating to an “underperform” rating in a report on Friday. Capital One Financial Corp. cut shares of Hornbeck Offshore Services from an “overweight” rating to an “equal weight” rating in a report on Thursday, May 5th. Morgan Stanley upgraded shares of Hornbeck Offshore Services from an “underweight” rating to an “equal weight” rating and raised their price target for the company from $8.50 to $12.50 in a report on Wednesday, April 20th. Stephens upgraded shares of Hornbeck Offshore Services from an “underweight” rating to an “equal weight” rating in a report on Wednesday, May 11th. Finally, Zacks Investment Research upgraded shares of Hornbeck Offshore Services from a “sell” rating to a “hold” rating in a report on Wednesday, April 27th. Three analysts have rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $12.39.
The stock has a 50-day moving average price of $8.37 and a 200-day moving average price of $8.87. The firm’s market capitalization is $216.76 million.
Hornbeck Offshore Services (NYSE:HOS) last issued its quarterly earnings results on Wednesday, August 3rd. The company reported ($0.57) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.39) by $0.18. The business had revenue of $53.67 million for the quarter, compared to the consensus estimate of $66.74 million. During the same quarter in the previous year, the business earned $0.53 EPS. Hornbeck Offshore Services’s revenue for the quarter was down 60.7% on a year-over-year basis. On average, equities research analysts predict that Hornbeck Offshore Services will post ($1.74) earnings per share for the current fiscal year.
Other hedge funds have modified their holdings of the company. I.G. Investment Management LTD. raised its stake in shares of Hornbeck Offshore Services by 101.0% in the fourth quarter. I.G. Investment Management LTD. now owns 753,900 shares of the company’s stock worth $7,494,000 after buying an additional 378,900 shares during the period. Systematic Financial Management LP purchased a new stake in Hornbeck Offshore Services during the fourth quarter worth $1,787,000. State of Wisconsin Investment Board raised its stake in Hornbeck Offshore Services by 0.9% in the fourth quarter. State of Wisconsin Investment Board now owns 255,990 shares of the company’s stock worth $2,545,000 after buying an additional 2,332 shares during the last quarter. Finally, First Trust Advisors LP raised its stake in Hornbeck Offshore Services by 17.4% in the fourth quarter. First Trust Advisors LP now owns 202,967 shares of the company’s stock worth $2,017,000 after buying an additional 30,016 shares during the last quarter.
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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