Acquiring New Vessels Helps Hornbeck Grow

Wednesday, April 02, 2008

Hornbeck Offshore Services HOS emerged from a three-month cup base as it reached a new high in early November. The stock then pulled back gently to start the left side of a new basing pattern.
It cleared the buy point 18om a double-bottom base in late February, but turned south yet again under market pressure.
Hornbeck has since found support at its 40-week average and made its way back up to just 7% off its high.
The Louisiana-based provider of offshore supply vessels to the oil and gas industry stepped up profit growth the past two quarters from 11% to 27% and 67%. Analysts expect a slowdown to 39% in Q1.
Sales growth also accelerated the past two quarters, rising from 6% to 22% and 55%. Wall Street forecasts call for 52% growth in Q1.
Hornbeck primarily serves the northeastern and , and some international markets. It also provides petroleum transportation services.
It keeps expanding by acquiring or building new vessels. So far this year Hornbeck has bought a multipurpose supply vessel, and has contracted for the construction of two new vessels.

Source:  Newstex

Maritime Reporter September 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People in the News

Frontline appoints Macleod as new CEO

Crude oil tanker firm Frontline, part of shipping tycoon John Fredriksen's business empire, appointed Robert Hvide Macleod as chief executive to replace Jens Martin Jensen, the firm said on Monday.

Saudi Oil Pipeline Set Alight

A "limited fire" broke out on a subsidiary oil pipeline in eastern Saudi Arabia on Saturday after assailants fired shots at a security patrol, the state news agency SPA said.

Maduro Says Venezuela's 2015 Budget to Put Oil at $60

Venezuela's 2015 budget will be based on a target oil price of $60 dollars per barrel, President Nicolas Maduro said on Friday night, but he repeated expectations that prices will recover.

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Standards Navigation Offshore Oil Pod Propulsion Ship Repair Ship Simulators Sonar Winch
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.0930 sec (11 req/sec)