ValuEngine Downgrades Hornbeck Offshore Services (HOS) to Hold

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ValuEngine cut shares of Hornbeck Offshore Services (NYSE:HOS) from a buy rating to a hold rating in a research report released on Tuesday morning.

Several other equities analysts have also commented on HOS. Zacks Investment Research lowered shares of Hornbeck Offshore Services from a hold rating to a sell rating in a research report on Wednesday, May 9th. Clarkson Capital raised shares of Hornbeck Offshore Services from a neutral rating to a buy rating in a research report on Friday, June 22nd.

Shares of HOS opened at $4.34 on Tuesday. The company has a current ratio of 3.00, a quick ratio of 3.00 and a debt-to-equity ratio of 0.79. The company has a market cap of $167.30 million, a P/E ratio of -1.75 and a beta of 1.36. Hornbeck Offshore Services has a 1 year low of $2.68 and a 1 year high of $5.35.

Hornbeck Offshore Services (NYSE:HOS) last announced its quarterly earnings data on Wednesday, August 1st. The oil and gas company reported ($0.67) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.73) by $0.06. The business had revenue of $58.43 million for the quarter, compared to the consensus estimate of $56.50 million. Hornbeck Offshore Services had a net margin of 5.27% and a negative return on equity of 7.13%. equities analysts predict that Hornbeck Offshore Services will post -3.12 EPS for the current year.

Hedge funds have recently modified their holdings of the stock. Sheets Smith Wealth Management acquired a new position in Hornbeck Offshore Services during the second quarter worth approximately $220,000. Millennium Management LLC increased its position in Hornbeck Offshore Services by 59.1% during the first quarter. Millennium Management LLC now owns 404,031 shares of the oil and gas company’s stock worth $1,176,000 after purchasing an additional 150,066 shares during the last quarter. Royal Bank of Canada increased its position in Hornbeck Offshore Services by 154.1% during the first quarter. Royal Bank of Canada now owns 48,550 shares of the oil and gas company’s stock worth $141,000 after purchasing an additional 29,440 shares during the last quarter. JPMorgan Chase & Co. increased its position in Hornbeck Offshore Services by 722.0% during the first quarter. JPMorgan Chase & Co. now owns 201,713 shares of the oil and gas company’s stock worth $587,000 after purchasing an additional 177,174 shares during the last quarter. Finally, Renaissance Technologies LLC acquired a new position in Hornbeck Offshore Services during the fourth quarter worth approximately $151,000. 60.73% of the stock is owned by hedge funds and other institutional investors.

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 U.S. 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 in the U.S.

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To view ValuEngine’s full report, visit ValuEngine’s official website.

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