Hornbeck Offshore Services (HOS) Downgraded by Zacks Investment Research

Zacks Investment Research cut shares of Hornbeck Offshore Services (NYSE:HOS) from a hold rating to a sell rating in a research note published on Tuesday 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 Hornbeck Offshore Services from a hold rating to a buy rating in a research note on Wednesday, September 26th.



Shares of HOS traded down $0.02 during midday trading on Tuesday, reaching $1.61. The stock had a trading volume of 70,282 shares, compared to its average volume of 404,835. Hornbeck Offshore Services has a 52 week low of $1.02 and a 52 week high of $6.14. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.07 and a current ratio of 1.07. The company has a market capitalization of $65.04 million, a PE ratio of -0.64 and a beta of 2.42.

Hornbeck Offshore Services (NYSE:HOS) last posted its quarterly earnings data on Wednesday, October 31st. The oil and gas company reported ($0.78) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.70) by ($0.08). Hornbeck Offshore Services had a negative return on equity of 7.90% and a negative net margin of 0.54%. The firm had revenue of $58.47 million during the quarter, compared to the consensus estimate of $61.23 million. On average, equities research analysts forecast that Hornbeck Offshore Services will post -3.18 EPS for the current fiscal year.

Several institutional investors have recently made changes to their positions in HOS. Renaissance Technologies LLC raised its position in shares of Hornbeck Offshore Services by 100.4% during the second quarter. Renaissance Technologies LLC now owns 498,040 shares of the oil and gas company’s stock worth $1,972,000 after purchasing an additional 249,500 shares during the period. Northern Trust Corp raised its position in shares of Hornbeck Offshore Services by 18.5% during the second quarter. Northern Trust Corp now owns 129,572 shares of the oil and gas company’s stock worth $513,000 after purchasing an additional 20,256 shares during the period. Bridgeway Capital Management Inc. acquired a new stake in shares of Hornbeck Offshore Services during the third quarter worth $671,000. Mackenzie Financial Corp raised its position in shares of Hornbeck Offshore Services by 13.7% during the third quarter. Mackenzie Financial Corp now owns 1,932,909 shares of the oil and gas company’s stock worth $11,366,000 after purchasing an additional 232,909 shares during the period. Finally, Vanguard Group Inc. raised its position in shares of Hornbeck Offshore Services by 20.0% during the third quarter. Vanguard Group Inc. now owns 1,476,554 shares of the oil and gas company’s stock worth $8,682,000 after purchasing an additional 246,050 shares during the period. 62.47% 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.

Further Reading: Return on Investment (ROI) Defined, Explained

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