Hornbeck Offshore Services (HOS) Stock Rating Upgraded by Zacks Investment Research

Hornbeck Offshore Services (NYSE:HOS) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Wednesday.

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 lowered Hornbeck Offshore Services from a “hold” rating to a “sell” rating in a research note on Thursday, February 7th.

Shares of NYSE HOS traded up $0.05 during midday trading on Wednesday, hitting $1.48. The stock had a trading volume of 306,563 shares, compared to its average volume of 236,633. The firm has a market capitalization of $53.76 million, a P/E ratio of -0.59 and a beta of 2.16. Hornbeck Offshore Services has a 1-year low of $1.02 and a 1-year high of $6.14. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.07 and a quick ratio of 1.07.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in HOS. Bridgeway Capital Management Inc. acquired a new position in Hornbeck Offshore Services during the 3rd quarter worth approximately $671,000. Renaissance Technologies LLC lifted its position in Hornbeck Offshore Services by 36.8% during the 3rd quarter. Renaissance Technologies LLC now owns 681,540 shares of the oil and gas company’s stock worth $4,007,000 after acquiring an additional 183,500 shares in the last quarter. Vanguard Group Inc lifted its position in 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 acquiring an additional 246,050 shares in the last quarter. Mackenzie Financial Corp lifted its position in Hornbeck Offshore Services by 13.7% during the 3rd quarter. Mackenzie Financial Corp now owns 1,932,909 shares of the oil and gas company’s stock worth $11,366,000 after acquiring an additional 232,909 shares in the last quarter. Finally, Northern Trust Corp lifted its position in Hornbeck Offshore Services by 18.5% during the 2nd quarter. Northern Trust Corp now owns 129,572 shares of the oil and gas company’s stock worth $513,000 after acquiring an additional 20,256 shares in the last quarter. 62.44% of the stock is currently 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 in the U.S.

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