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, Capital One Financial Corp. reiterated an equal weight rating on shares of Hornbeck Offshore Services in a research report on Thursday, February 16th. Two equities research analysts have rated the stock with a sell rating and seven have given a hold rating to the company’s stock. Hornbeck Offshore Services has a consensus rating of Hold and an average target price of $9.83.
Shares of Hornbeck Offshore Services (NYSE:HOS) opened at 3.12 on Wednesday. The stock’s 50 day moving average price is $5.36 and its 200-day moving average price is $5.81. Hornbeck Offshore Services has a 12 month low of $3.00 and a 12 month high of $12.57. The firm’s market capitalization is $113.77 million.
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A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. State Street Corp raised its position in shares of Hornbeck Offshore Services by 7.2% in the fourth quarter. State Street Corp now owns 816,200 shares of the company’s stock worth $5,894,000 after buying an additional 55,158 shares during the last quarter. Selz Capital LLC purchased a new position in shares of Hornbeck Offshore Services during the third quarter worth approximately $1,650,000. California Public Employees Retirement System raised its position in shares of Hornbeck Offshore Services by 20.5% in the third quarter. California Public Employees Retirement System now owns 248,900 shares of the company’s stock worth $1,369,000 after buying an additional 42,400 shares during the last quarter. South Dakota Investment Council purchased a new position in shares of Hornbeck Offshore Services during the third quarter worth approximately $493,000. Finally, Vertex One Asset Management Inc. purchased a new position in shares of Hornbeck Offshore Services during the fourth quarter worth approximately $505,000.
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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