Revenue Update on Hornbeck Offshore Services(NYSE:HOS)

Hornbeck Offshore Services(NYSE:HOS) announced the earnings results for Fiscal Year 2016 and Q2. The results came in during After-hours on Aug 3, 2016. Company reported revenue of $53.67M. Analysts estimated a revenue of $66.74M. Earnings per share were $-0.57. Analysts had estimated an EPS of $-0.37.

In a different note, On May 13, 2016, Clarckson Platou said it Upgrades its rating on Hornbeck Offshore Services. The shares have been rated ‘Neutral’ by the firm. On May 11, 2016, Stephens & Co. said it Upgrades its rating on Hornbeck Offshore Services. The shares have been rated ‘Equal-weight’ by the firm.

Hornbeck Offshore Services (HOS) shares turned negative on Fridays trading session with the shares closing down -0.1 points or -1.79% at a volume of 12,12,409. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $5.69. The peak price level was also seen at $5.69 while the days lowest was $5.44. Finally the shares closed at $5.5. The 52-week high of the shares is $20.49 while the 52-week low is $5.44. According to the latest information available, the market cap of the company is $200 M.

Several Insider Transactions has been reported to the SEC. On Feb 25, 2016, Patricia B Melcher (director) purchased 7,000 shares at $7.00 per share price.Also, On Jan 21, 2016, James O Jr Harp (CFO) purchased 10,000 shares at $6.50 per share price.On Jan 20, 2016, Carl G Annessa (COO) purchased 20,000 shares at $6.74 per share price, according to the Form-4 filing with the securities and exchange commission.

Hornbeck Offshore Services Inc. is a provider of 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 the provision of marine solutions to meet the needs of the deepwater and ultradeepwater energy industry in domestic and select foreign locations. The Company owns and operates a fleet of United States-flagged OSVs and MPSVs. These vessels support the deep-well deepwater and ultra-deepwater activities of the offshore oil and gas industry. The Company operates in three core geographic markets: the Gulf of Mexico (GoM) Mexico and Brazil. The Company has operated in the Middle East the Mediterranean Sea the Black Sea and the Caribbean basin including Nicaragua Guyana Trinidad and Venezuela. The Company also operates a shore-base support facility located in Port Fourchon Louisiana.

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