Hornbeck Offshore Services (HOS) Debt Trading 1.5% Higher

An issue of Hornbeck Offshore Services, Inc. (NYSE:HOS) bonds rose 1.5% against their face value during trading on Thursday. 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 $71.50. Price changes in a company’s bonds in credit markets sometimes anticipate parallel changes in its stock price.

Several brokerages recently commented on HOS. ValuEngine upgraded shares of Hornbeck Offshore Services from a “strong sell” rating to a “sell” rating in a report on Thursday, November 9th. Zacks Investment Research downgraded shares of Hornbeck Offshore Services from a “hold” rating to a “sell” rating in a report on Friday, January 5th. Finally, Credit Suisse Group downgraded shares of Hornbeck Offshore Services from a “neutral” rating to an “underperform” rating and set a $2.00 target price on the stock. in a research note on Friday, January 12th. Two research analysts have rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. Hornbeck Offshore Services currently has an average rating of “Hold” and an average price target of $3.33.

Shares of Hornbeck Offshore Services, Inc. (NYSE:HOS) traded up $0.10 during mid-day trading on Friday, reaching $3.48. 328,342 shares of the company’s stock were exchanged, compared to its average volume of 351,066. The company has a debt-to-equity ratio of 0.75, a current ratio of 3.61 and a quick ratio of 3.61. The company has a market cap of $132.75, a P/E ratio of 5.19 and a beta of 1.31. Hornbeck Offshore Services, Inc. has a twelve month low of $1.51 and a twelve month high of $7.09.

Hornbeck Offshore Services (NYSE:HOS) last issued its earnings results on Wednesday, February 7th. The oil and gas company reported ($0.44) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.73) by $0.29. The business had revenue of $56.20 million for the quarter, compared to the consensus estimate of $40.65 million. Hornbeck Offshore Services had a net margin of 14.33% and a negative return on equity of 6.73%. The company’s revenue for the quarter was up 34.1% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.53) EPS. analysts expect that Hornbeck Offshore Services, Inc. will post -2.74 earnings per share for the current fiscal year.

A number of hedge funds have recently modified their holdings of HOS. Monashee Investment Management LLC bought a new position in Hornbeck Offshore Services in the 4th quarter worth about $115,000. Brandes Investment Partners LP grew its stake in Hornbeck Offshore Services by 316.7% in the 3rd quarter. Brandes Investment Partners LP now owns 66,503 shares of the oil and gas company’s stock worth $269,000 after acquiring an additional 50,545 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in Hornbeck Offshore Services by 86.3% in the 2nd quarter. Goldman Sachs Group Inc. now owns 117,476 shares of the oil and gas company’s stock worth $332,000 after acquiring an additional 54,431 shares in the last quarter. Balyasny Asset Management LLC bought a new position in Hornbeck Offshore Services in the 2nd quarter worth about $568,000. Finally, JPMorgan Chase & Co. grew its stake in Hornbeck Offshore Services by 374.5% in the 2nd quarter. JPMorgan Chase & Co. now owns 262,542 shares of the oil and gas company’s stock worth $743,000 after acquiring an additional 207,212 shares in the last quarter. Institutional investors and hedge funds 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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