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

Hornbeck Offshore Services (NYSE:HOS) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors 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 downgraded Hornbeck Offshore Services from a “hold” rating to a “sell” rating in a research report on Thursday, February 7th.

Hornbeck Offshore Services stock opened at $1.42 on Tuesday. The company has a quick ratio of 1.86, a current ratio of 2.76 and a debt-to-equity ratio of 0.94. The stock has a market capitalization of $52.65 million, a price-to-earnings ratio of -0.43 and a beta of 2.25. Hornbeck Offshore Services has a 12 month low of $1.02 and a 12 month high of $6.14.

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

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its holdings in 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 buying an additional 246,050 shares in the last quarter. Vanguard Group Inc grew its holdings in shares of 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 purchasing an additional 246,050 shares in the last quarter. Acadian Asset Management LLC boosted its stake in Hornbeck Offshore Services by 72.1% in the fourth quarter. Acadian Asset Management LLC now owns 48,390 shares of the oil and gas company’s stock valued at $70,000 after buying an additional 20,267 shares in the last quarter. Bank of New York Mellon Corp raised its position in Hornbeck Offshore Services by 210.6% in the fourth quarter. Bank of New York Mellon Corp now owns 63,888 shares of the oil and gas company’s stock valued at $92,000 after purchasing an additional 43,317 shares during the last quarter. Finally, Municipal Employees Retirement System of Michigan bought a new position in shares of Hornbeck Offshore Services during the fourth quarter worth about $153,000. 62.95% of the stock is owned by institutional investors and hedge funds.

About Hornbeck Offshore Services

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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