Hornbeck Offshore Services (HOS) Debt Trading 1.4% Lower

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An issue of Hornbeck Offshore Services, Inc. (NYSE:HOS) debt fell 1.4% as a percentage of its face value during trading on Thursday. The high-yield issue of debt has a 5% coupon and will mature on March 1, 2021. The debt is now trading at $74.63 and was trading at $74.25 one week ago. Price moves in a company’s debt in credit markets sometimes anticipate parallel moves in its share price.

A number of equities analysts have recently issued reports on HOS shares. Zacks Investment Research upgraded shares of Hornbeck Offshore Services from a “hold” rating to a “buy” rating and set a $4.75 price objective for the company in a research note on Wednesday, September 19th. ValuEngine upgraded shares of Hornbeck Offshore Services from a “hold” rating to a “buy” rating in a research note on Wednesday, September 26th. Finally, Clarkson Capital upgraded shares of Hornbeck Offshore Services from a “neutral” rating to a “buy” rating in a research note on Friday, June 22nd.

Shares of HOS traded up $0.12 during trading hours on Friday, hitting $4.85. The stock had a trading volume of 133,920 shares, compared to its average volume of 246,554. The company has a debt-to-equity ratio of 0.79, a quick ratio of 3.00 and a current ratio of 3.00. Hornbeck Offshore Services, Inc. has a 52 week low of $2.68 and a 52 week high of $6.14. The firm has a market cap of $221.06 million, a price-to-earnings ratio of -1.95 and a beta of 1.28.

Hornbeck Offshore Services (NYSE:HOS) last posted its earnings results on Wednesday, August 1st. The oil and gas company reported ($0.67) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.73) by $0.06. Hornbeck Offshore Services had a net margin of 5.27% and a negative return on equity of 7.13%. The business had revenue of $58.43 million for the quarter, compared to analyst estimates of $56.50 million. As a group, sell-side analysts anticipate that Hornbeck Offshore Services, Inc. will post -3.12 EPS for the current fiscal year.

Institutional investors and hedge funds have recently bought and sold shares of the company. Sheets Smith Wealth Management bought a new stake in Hornbeck Offshore Services during the 2nd quarter worth about $220,000. Millennium Management LLC grew its holdings in Hornbeck Offshore Services by 59.1% during the 1st quarter. Millennium Management LLC now owns 404,031 shares of the oil and gas company’s stock worth $1,176,000 after acquiring an additional 150,066 shares during the last quarter. Royal Bank of Canada grew its holdings in Hornbeck Offshore Services by 154.1% during the 1st quarter. Royal Bank of Canada now owns 48,550 shares of the oil and gas company’s stock worth $141,000 after acquiring an additional 29,440 shares during the last quarter. Gagnon Securities LLC grew its holdings in Hornbeck Offshore Services by 94.6% during the 2nd quarter. Gagnon Securities LLC now owns 31,469 shares of the oil and gas company’s stock worth $125,000 after acquiring an additional 15,294 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in Hornbeck Offshore Services by 722.0% during the 1st quarter. JPMorgan Chase & Co. now owns 201,713 shares of the oil and gas company’s stock worth $587,000 after acquiring an additional 177,174 shares during the last quarter. 60.73% of the stock is currently owned by institutional investors and hedge funds.

Hornbeck Offshore Services Company Profile (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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