Hornbeck Offshore Services (HOS) Downgraded by Zacks Investment Research to “Sell”

Zacks Investment Research lowered shares of Hornbeck Offshore Services (NYSE:HOS) from a hold rating to a sell rating in a research note released on Tuesday, 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 Hornbeck Offshore Services from a sell rating to a hold rating in a report on Friday, March 1st.

Shares of NYSE HOS opened at $1.38 on Tuesday. The stock has a market cap of $52.27 million, a price-to-earnings ratio of -0.42 and a beta of 2.25. 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 has a 1 year low of $1.02 and a 1 year high of $6.14.

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

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc lifted its holdings in Hornbeck Offshore Services by 20.0% during the 3rd quarter. Vanguard Group Inc now owns 1,476,554 shares of the oil and gas company’s stock worth $8,682,000 after buying an additional 246,050 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Hornbeck Offshore Services by 20.0% in the 3rd quarter. Vanguard Group Inc. now owns 1,476,554 shares of the oil and gas company’s stock valued at $8,682,000 after purchasing an additional 246,050 shares during the last quarter. Deutsche Bank AG lifted its holdings in shares of Hornbeck Offshore Services by 650.2% in the 4th quarter. Deutsche Bank AG now owns 498,894 shares of the oil and gas company’s stock valued at $718,000 after purchasing an additional 432,394 shares during the last quarter. Acadian Asset Management LLC lifted its holdings in shares of Hornbeck Offshore Services by 198.3% in the 1st quarter. Acadian Asset Management LLC now owns 144,331 shares of the oil and gas company’s stock valued at $179,000 after purchasing an additional 95,941 shares during the last quarter. Finally, Municipal Employees Retirement System of Michigan purchased a new stake in shares of Hornbeck Offshore Services in the 4th quarter valued at about $153,000. 60.49% of the stock is owned by institutional investors.

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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