Hornbeck Offshore Services (HOS) Lifted to Hold at Zacks Investment Research
Zacks Investment Research upgraded shares of Hornbeck Offshore Services (NYSE:HOS) from a sell rating to a hold rating in a report released on Monday.
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. “
A number of other brokerages have also issued reports on HOS. ValuEngine lowered Hornbeck Offshore Services from a sell rating to a strong sell rating in a research note on Friday, June 2nd. Seaport Global Securities lowered Hornbeck Offshore Services from a buy rating to a neutral rating in a research note on Friday, June 2nd. Finally, Piper Jaffray Companies restated a hold rating and issued a $3.50 target price on shares of Hornbeck Offshore Services in a research note on Thursday, August 3rd. One investment analyst has rated the stock with a sell rating and five have issued a hold rating to the stock. The company presently has a consensus rating of Hold and an average target price of $4.75.
Shares of Hornbeck Offshore Services (NYSE HOS) traded up 4.02% during mid-day trading on Monday, hitting $3.36. The company had a trading volume of 245,226 shares. Hornbeck Offshore Services has a 1-year low of $1.51 and a 1-year high of $9.07. The company has a 50-day moving average price of $2.70 and a 200-day moving average price of $2.97. The company’s market capitalization is $124.41 million.
Hornbeck Offshore Services (NYSE:HOS) last issued its earnings results on Wednesday, August 2nd. The oil and gas company reported ($0.82) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.79) by ($0.03). The firm had revenue of $37.40 million during the quarter, compared to analysts’ expectations of $37.13 million. Hornbeck Offshore Services had a negative return on equity of 6.72% and a negative net margin of 47.42%. The business’s revenue was down 30.4% on a year-over-year basis. During the same quarter last year, the business earned ($0.57) EPS. On average, equities analysts anticipate that Hornbeck Offshore Services will post ($2.98) EPS for the current year.
A number of institutional investors and hedge funds have recently made changes to their positions in HOS. Menta Capital LLC acquired a new stake in Hornbeck Offshore Services during the 1st quarter worth about $114,000. Comerica Bank grew its position in Hornbeck Offshore Services by 1.7% during the 1st quarter. Comerica Bank now owns 34,874 shares of the oil and gas company’s stock worth $123,000 after purchasing an additional 576 shares during the period. State of Tennessee Treasury Department grew its position in Hornbeck Offshore Services by 17.8% during the 1st quarter. State of Tennessee Treasury Department now owns 30,395 shares of the oil and gas company’s stock worth $135,000 after purchasing an additional 4,587 shares during the period. Tower Research Capital LLC TRC grew its position in Hornbeck Offshore Services by 3,278.6% during the 1st quarter. Tower Research Capital LLC TRC now owns 32,029 shares of the oil and gas company’s stock worth $142,000 after purchasing an additional 31,081 shares during the period. Finally, MML Investors Services LLC grew its position in Hornbeck Offshore Services by 17.3% during the 2nd quarter. MML Investors Services LLC now owns 54,300 shares of the oil and gas company’s stock worth $154,000 after purchasing an additional 8,000 shares during the period. 86.67% of the stock is currently owned by institutional investors.
About Hornbeck Offshore Services
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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