ValuEngine Upgrades Hornbeck Offshore Services (HOS) to Sell
Hornbeck Offshore Services (NYSE:HOS) was upgraded by equities research analysts at ValuEngine from a “strong sell” rating to a “sell” rating in a research note issued on Thursday.
Other equities analysts also recently issued research reports about the company. Zacks Investment Research raised Hornbeck Offshore Services from a “hold” rating to a “buy” rating and set a $4.50 target price on the stock in a research report on Monday, November 6th. Piper Jaffray Companies reissued a “hold” rating and set a $3.50 target price on shares of Hornbeck Offshore Services in a research report on Thursday, August 3rd. Finally, Seaport Global Securities reissued a “neutral” rating on shares of Hornbeck Offshore Services in a research report on Monday, August 7th. One analyst has rated the stock with a sell rating and four have issued a hold rating to the company. Hornbeck Offshore Services has an average rating of “Hold” and an average target price of $4.00.
Hornbeck Offshore Services (NYSE HOS) opened at $4.32 on Thursday. The company has a debt-to-equity ratio of 0.75, a quick ratio of 3.57 and a current ratio of 3.57. 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 released its earnings results on Wednesday, November 1st. The oil and gas company reported ($0.51) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.73) by $0.22. The firm had revenue of $53.70 million for the quarter, compared to the consensus estimate of $41.25 million. Hornbeck Offshore Services had a negative return on equity of 7.00% and a negative net margin of 48.34%. The company’s revenue for the quarter was up 3.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.45) EPS. equities research analysts anticipate that Hornbeck Offshore Services will post -3 earnings per share for the current year.
Institutional investors have recently made changes to their positions in the business. Parametric Portfolio Associates LLC grew its position in Hornbeck Offshore Services by 67.7% in the 1st quarter. Parametric Portfolio Associates LLC now owns 234,487 shares of the oil and gas company’s stock valued at $1,039,000 after acquiring an additional 94,690 shares during the last quarter. JPMorgan Chase & Co. grew its position in Hornbeck Offshore Services by 374.5% in the 2nd quarter. JPMorgan Chase & Co. now owns 262,542 shares of the oil and gas company’s stock valued at $743,000 after acquiring an additional 207,212 shares during the last quarter. Balyasny Asset Management LLC bought a new position in Hornbeck Offshore Services in the 2nd quarter valued at $568,000. OppenheimerFunds Inc. grew its position in Hornbeck Offshore Services by 128.6% in the 1st quarter. OppenheimerFunds Inc. now owns 50,441 shares of the oil and gas company’s stock valued at $224,000 after acquiring an additional 28,373 shares during the last quarter. Finally, Vanguard Group Inc. grew its position in Hornbeck Offshore Services by 3.6% in the 1st quarter. Vanguard Group Inc. now owns 1,817,179 shares of the oil and gas company’s stock valued at $8,050,000 after acquiring an additional 62,489 shares during the last quarter. 86.61% of the stock is currently owned by institutional investors.
About Hornbeck Offshore Services
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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