Hornbeck Offshore Services (HOS) Trading 11.7% Higher

Hornbeck Offshore Services, Inc. (NYSE:HOS) shares traded up 11.7% on Thursday . The stock traded as high as $3.66 and last traded at $3.52. 649,080 shares were traded during trading, an increase of 167% from the average session volume of 243,125 shares. The stock had previously closed at $3.15.

Several research analysts recently weighed in on the stock. Zacks Investment Research upgraded shares of Hornbeck Offshore Services from a “hold” rating to a “buy” rating and set a $4.75 price target on the stock in a report on Wednesday, September 19th. ValuEngine upgraded shares of Hornbeck Offshore Services from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, July 10th.

The company has a current ratio of 1.25, a quick ratio of 3.00 and a debt-to-equity ratio of 0.74. The company has a market cap of $151.88 million, a price-to-earnings ratio of -1.62 and a beta of 1.88.

Hornbeck Offshore Services (NYSE:HOS) last released its earnings results on Wednesday, October 31st. The oil and gas company reported ($0.78) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.70) by ($0.08). The company had revenue of $58.47 million during the quarter, compared to analysts’ expectations of $61.23 million. Hornbeck Offshore Services had a negative net margin of 0.54% and a negative return on equity of 7.90%. As a group, analysts expect that Hornbeck Offshore Services, Inc. will post -3.13 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in HOS. Renaissance Technologies LLC boosted its stake in Hornbeck Offshore Services by 100.4% in the second quarter. Renaissance Technologies LLC now owns 498,040 shares of the oil and gas company’s stock valued at $1,972,000 after acquiring an additional 249,500 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in Hornbeck Offshore Services by 722.0% in the first quarter. JPMorgan Chase & Co. now owns 201,713 shares of the oil and gas company’s stock valued at $587,000 after acquiring an additional 177,174 shares during the last quarter. Millennium Management LLC boosted its stake in Hornbeck Offshore Services by 59.1% in the first quarter. Millennium Management LLC now owns 404,031 shares of the oil and gas company’s stock valued at $1,176,000 after acquiring an additional 150,066 shares during the last quarter. Sheets Smith Wealth Management purchased a new position in Hornbeck Offshore Services in the second quarter valued at about $220,000. Finally, Royal Bank of Canada boosted its stake in Hornbeck Offshore Services by 154.1% in the first quarter. Royal Bank of Canada now owns 48,550 shares of the oil and gas company’s stock valued at $141,000 after acquiring an additional 29,440 shares during the last quarter. Hedge funds and other institutional investors own 60.74% of the company’s stock.

About Hornbeck Offshore Services (NYSE:HOS)

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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