Hornbeck Offshore Services (NYSE:HOS) Upgraded at Zacks Investment Research

Hornbeck Offshore Services (NYSE:HOS) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Wednesday, 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 raised shares of Hornbeck Offshore Services from a “sell” rating to a “hold” rating in a research note on Friday, March 1st.

Hornbeck Offshore Services stock opened at $1.37 on Wednesday. The firm has a market capitalization of $54.55 million, a P/E ratio of -0.42 and a beta of 2.07. Hornbeck Offshore Services has a 52 week low of $1.02 and a 52 week high of $6.14. The company has a quick ratio of 2.76, a current ratio of 2.76 and a debt-to-equity ratio of 0.94.

Hornbeck Offshore Services (NYSE:HOS) last released its earnings results on Wednesday, May 1st. The oil and gas company reported ($0.97) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.91) by ($0.06). The business had revenue of $54.04 million during the quarter, compared to analyst estimates of $61.70 million. Hornbeck Offshore Services had a negative net margin of 52.07% and a negative return on equity of 9.16%. Research analysts predict that Hornbeck Offshore Services will post -2.77 EPS for the current year.

Hedge funds have recently added to or reduced their stakes in the company. Sullivan Bruyette Speros & Blaney LLC increased its holdings in shares of Hornbeck Offshore Services by 85.3% during the 1st quarter. Sullivan Bruyette Speros & Blaney LLC now owns 20,632 shares of the oil and gas company’s stock worth $26,000 after buying an additional 9,500 shares during the last quarter. Acadian Asset Management LLC increased its holdings in shares of Hornbeck Offshore Services by 72.1% during the 4th quarter. Acadian Asset Management LLC now owns 48,390 shares of the oil and gas company’s stock worth $70,000 after buying an additional 20,267 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of 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 buying an additional 43,317 shares during the last quarter. Municipal Employees Retirement System of Michigan acquired a new stake in Hornbeck Offshore Services during the fourth quarter worth about $153,000. Finally, Deutsche Bank AG increased its stake in Hornbeck Offshore Services by 650.2% during the fourth quarter. Deutsche Bank AG now owns 498,894 shares of the oil and gas company’s stock worth $718,000 after acquiring an additional 432,394 shares during the last quarter. Institutional investors and hedge funds own 55.31% of the company’s stock.

Hornbeck Offshore Services Company Profile

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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