Zacks Investment Research Upgrades Hornbeck Offshore Services (HOS) to “Hold”
Hornbeck Offshore Services (NYSE:HOS) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Friday.
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. “
Shares of Hornbeck Offshore Services (NYSE:HOS) opened at 4.75 on Friday. The stock has a 50 day moving average of $7.20 and a 200-day moving average of $6.10. The company’s market capitalization is $172.78 million. Hornbeck Offshore Services has a 12-month low of $3.00 and a 12-month high of $12.98.
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Hedge funds and other institutional investors have recently made changes to their positions in the stock. Metropolitan Life Insurance Co. NY purchased a new position in shares of Hornbeck Offshore Services during the fourth quarter valued at $157,000. Comerica Bank raised its stake in shares of Hornbeck Offshore Services by 5.4% in the fourth quarter. Comerica Bank now owns 34,298 shares of the company’s stock valued at $256,000 after buying an additional 1,765 shares during the period. Trexquant Investment LP bought a new stake in shares of Hornbeck Offshore Services during the fourth quarter valued at about $270,000. Vertex One Asset Management Inc. bought a new stake in shares of Hornbeck Offshore Services during the fourth quarter valued at about $505,000. Finally, South Dakota Investment Council bought a new stake in shares of Hornbeck Offshore Services during the third quarter valued at about $493,000.
Hornbeck Offshore Services Company Profile
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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