Hornbeck Offshore Services (HOS) Rating Increased to Hold 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 issued 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. “
Several other research firms have also commented on HOS. ValuEngine upgraded Hornbeck Offshore Services from a “strong sell” rating to a “sell” rating in a research note on Friday. Seaport Global Securities reiterated a “neutral” rating on shares of Hornbeck Offshore Services in a research note on Monday, August 7th. Finally, Piper Jaffray Companies reiterated a “hold” rating and set a $3.50 price objective on shares of Hornbeck Offshore Services in a research note on Thursday, August 3rd. One equities research analyst has rated the stock with a sell rating and five have given a hold rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $4.75.
Shares of Hornbeck Offshore Services (NYSE:HOS) traded up 5.42% on Friday, hitting $2.92. The stock had a trading volume of 466,072 shares. The company’s 50 day moving average price is $2.59 and its 200-day moving average price is $3.09. The company’s market cap is $108.12 million. Hornbeck Offshore Services has a 12 month low of $1.51 and a 12 month high of $9.07.
Hornbeck Offshore Services (NYSE:HOS) last posted its quarterly earnings data on Wednesday, August 2nd. The oil and gas company reported ($0.82) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.79) by $0.03. Hornbeck Offshore Services had a negative return on equity of 6.72% and a negative net margin of 47.42%. The firm had revenue of $37.40 million for the quarter, compared to analysts’ expectations of $37.13 million. During the same quarter last year, the firm posted ($0.57) earnings per share. Hornbeck Offshore Services’s quarterly revenue was down 30.4% on a year-over-year basis. On average, analysts expect that Hornbeck Offshore Services will post ($2.98) earnings per share for the current year.
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Large investors have recently bought and sold shares of the company. Marshall Wace North America L.P. purchased a new stake in Hornbeck Offshore Services during the first quarter valued at approximately $313,000. MARSHALL WACE ASIA Ltd purchased a new stake in Hornbeck Offshore Services during the first quarter valued at approximately $313,000. D.C. Capital Advisors Ltd raised its stake in Hornbeck Offshore Services by 1.0% in the first quarter. D.C. Capital Advisors Ltd now owns 1,010,168 shares of the oil and gas company’s stock valued at $4,475,000 after buying an additional 10,168 shares during the period. California Public Employees Retirement System raised its stake in Hornbeck Offshore Services by 14.1% in the first quarter. California Public Employees Retirement System now owns 355,400 shares of the oil and gas company’s stock valued at $1,574,000 after buying an additional 44,000 shares during the period. Finally, Principal Financial Group Inc. raised its stake in Hornbeck Offshore Services by 3.9% in the first quarter. Principal Financial Group Inc. now owns 246,688 shares of the oil and gas company’s stock valued at $1,093,000 after buying an additional 9,280 shares during the period. Institutional investors own 86.67% of the company’s stock.
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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