Hornbeck Offshore Services (HOS) Downgraded by Zacks Investment Research

Zacks Investment Research downgraded shares of Hornbeck Offshore Services (NYSE:HOS) from a hold rating to a sell rating in a research report released on Tuesday morning, Zacks.com reports.

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 cut Hornbeck Offshore Services from a hold rating to a sell rating in a report on Wednesday, May 1st.



HOS stock opened at $1.45 on Tuesday. 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 0.94, a quick ratio of 1.86 and a current ratio of 2.76. The firm has a market cap of $53.03 million, a PE ratio of -0.44 and a beta of 2.25.

Hornbeck Offshore Services (NYSE:HOS) last posted its quarterly earnings data on Wednesday, May 1st. The oil and gas company reported ($0.97) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.91) by ($0.06). Hornbeck Offshore Services had a negative return on equity of 9.16% and a negative net margin of 52.07%. The business had revenue of $54.04 million for the quarter, compared to analyst estimates of $61.70 million. As a group, equities research analysts predict that Hornbeck Offshore Services will post -2.77 EPS for the current fiscal year.

Hedge funds have recently bought and sold shares of the company. Sullivan Bruyette Speros & Blaney LLC boosted its holdings in Hornbeck Offshore Services by 85.3% in the first quarter. Sullivan Bruyette Speros & Blaney LLC now owns 20,632 shares of the oil and gas company’s stock valued at $26,000 after acquiring an additional 9,500 shares during the last quarter. Acadian Asset Management LLC boosted its holdings in Hornbeck Offshore Services by 72.1% in the fourth quarter. Acadian Asset Management LLC now owns 48,390 shares of the oil and gas company’s stock valued at $70,000 after acquiring an additional 20,267 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in Hornbeck Offshore Services by 210.6% in the fourth quarter. Bank of New York Mellon Corp now owns 63,888 shares of the oil and gas company’s stock valued at $92,000 after acquiring an additional 43,317 shares during the last quarter. Municipal Employees Retirement System of Michigan acquired a new position in Hornbeck Offshore Services in the fourth quarter valued at $153,000. Finally, Deutsche Bank AG boosted its holdings in Hornbeck Offshore Services by 650.2% in the fourth quarter. Deutsche Bank AG now owns 498,894 shares of the oil and gas company’s stock valued at $718,000 after acquiring an additional 432,394 shares during the last quarter. Institutional investors and hedge funds own 62.95% of the company’s stock.

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 Gulf of Mexico in the U.S., Latin America, and internationally.

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