Hornbeck Offshore Services (HOS) Bonds Trading 1.8% Higher

An issue of Hornbeck Offshore Services, Inc. (NYSE:HOS) bonds rose 1.8% against their face value during trading on Thursday. The high-yield issue of debt has a 5% coupon and is set to mature on March 1, 2021. The debt is now trading at $60.00 and was trading at $56.50 last week. Price moves in a company’s bonds in credit markets sometimes predict parallel moves in its share price.

A number of research firms recently issued reports on HOS. Credit Suisse Group cut Hornbeck Offshore Services from a “neutral” rating to an “underperform” rating in a research report on Friday. ValuEngine raised Hornbeck Offshore Services from a “strong sell” rating to a “sell” rating in a research report on Thursday, November 9th. Finally, Zacks Investment Research raised Hornbeck Offshore Services from a “sell” rating to a “hold” rating in a research report on Thursday, September 21st. Three equities research analysts have rated the stock with a sell rating and three have assigned a hold rating to the stock. The company currently has an average rating of “Hold” and an average price target of $4.00.

Hornbeck Offshore Services, Inc. (NYSE HOS) traded down $0.10 during midday trading on Friday, reaching $3.85. The company’s stock had a trading volume of 519,250 shares, compared to its average volume of 441,627. Hornbeck Offshore Services, Inc. has a one year low of $1.51 and a one year high of $8.52. The company has a current ratio of 3.61, a quick ratio of 3.61 and a debt-to-equity ratio of 0.75. The company has a market capitalization of $142.64, a price-to-earnings ratio of -1.65 and a beta of 1.29.

Hornbeck Offshore Services (NYSE:HOS) last posted its earnings results on Wednesday, November 1st. The oil and gas company reported ($0.51) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.73) by $0.22. Hornbeck Offshore Services had a negative return on equity of 7.00% and a negative net margin of 48.34%. The company had revenue of $53.70 million for the quarter, compared to analyst estimates of $41.25 million. During the same period last year, the company earned ($0.45) earnings per share. The business’s revenue was up 3.5% compared to the same quarter last year. analysts forecast that Hornbeck Offshore Services, Inc. will post -2.92 earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. California Public Employees Retirement System raised its holdings in Hornbeck Offshore Services by 26.0% during the third quarter. California Public Employees Retirement System now owns 632,673 shares of the oil and gas company’s stock valued at $2,556,000 after buying an additional 130,373 shares in the last quarter. KBC Group NV raised its holdings in Hornbeck Offshore Services by 20.9% during the third quarter. KBC Group NV now owns 208,249 shares of the oil and gas company’s stock valued at $841,000 after buying an additional 35,934 shares in the last quarter. Brandes Investment Partners LP raised its holdings in Hornbeck Offshore Services by 316.7% during the third quarter. Brandes Investment Partners LP now owns 66,503 shares of the oil and gas company’s stock valued at $269,000 after buying an additional 50,545 shares in the last quarter. Brookfield Asset Management Inc. bought a new position in Hornbeck Offshore Services during the second quarter valued at about $991,000. Finally, Arrowstreet Capital Limited Partnership bought a new position in Hornbeck Offshore Services during the second quarter valued at about $1,957,000. Institutional investors own 77.54% of the company’s stock.

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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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