Hornbeck Offshore Services (HOS) Debt Trading 2% Higher

An issue of Hornbeck Offshore Services (NYSE:HOS) bonds rose 2% as a percentage of their face value during trading on Wednesday. The high-yield debt issue has a 5.875% coupon and will mature on April 1, 2020. The bonds in the issue are now trading at $66.72 and were trading at $67.00 one week ago. Price changes in a company’s bonds in credit markets sometimes predict parallel changes in its share price.

HOS has been the topic of several recent research reports. Zacks Investment Research upgraded Hornbeck Offshore Services from a “sell” rating to a “hold” rating in a research report on Wednesday, August 23rd. ValuEngine upgraded Hornbeck Offshore Services from a “strong sell” rating to a “sell” rating in a research report on Friday, September 1st. One investment analyst has rated the stock with a sell rating and four have issued a hold rating to the company. Hornbeck Offshore Services currently has a consensus rating of “Hold” and an average price target of $4.00.

Hornbeck Offshore Services (NYSE HOS) traded down $0.03 on Wednesday, reaching $3.00. The company had a trading volume of 286,712 shares, compared to its average volume of 979,758. The company has a debt-to-equity ratio of 0.75, a quick ratio of 3.61 and a current ratio of 3.61. Hornbeck Offshore Services has a fifty-two week low of $1.51 and a fifty-two week high of $8.67.

Hornbeck Offshore Services (NYSE:HOS) last posted its quarterly earnings results on Wednesday, November 1st. The oil and gas company reported ($0.51) earnings per share (EPS) for the quarter, topping the 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 business 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) EPS. Hornbeck Offshore Services’s revenue for the quarter was up 3.5% compared to the same quarter last year. research analysts forecast that Hornbeck Offshore Services will post -2.91 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. grew its position in Hornbeck Offshore Services by 3.6% during the 1st quarter. Vanguard Group Inc. now owns 1,817,179 shares of the oil and gas company’s stock worth $8,050,000 after acquiring an additional 62,489 shares during the last quarter. D.C. Capital Advisors Ltd grew its position in Hornbeck Offshore Services by 23.7% during the 2nd quarter. D.C. Capital Advisors Ltd now owns 1,250,000 shares of the oil and gas company’s stock worth $3,538,000 after acquiring an additional 239,832 shares during the last quarter. Caspian Capital LP bought a new position in Hornbeck Offshore Services during the 2nd quarter worth approximately $2,147,000. Arrowstreet Capital Limited Partnership bought a new position in Hornbeck Offshore Services during the 2nd quarter worth approximately $1,957,000. Finally, California Public Employees Retirement System grew its position in Hornbeck Offshore Services by 26.0% during the 3rd quarter. California Public Employees Retirement System now owns 632,673 shares of the oil and gas company’s stock worth $2,556,000 after acquiring an additional 130,373 shares during the last quarter. Institutional investors and hedge funds own 77.63% 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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