Hornbeck Offshore Services, Inc. (NYSE:HOS) Hits Weekly Highs

Hornbeck Offshore Services, Inc. (NYSE:HOS)

Hornbeck Offshore Services, Inc. (NYSE:HOS) received good news from the debt markets and a key analyst last week. Today the stock’s low was just $0.06 off its 52-week lows but HOS shares did end up on their highs for the preceding week of trading. On Friday HOS closed at $3.20 and opened today at $3.16 and closed up almost 16% at $$3.71. Additionally, Todd Hornbeck, President and CEO, purchased 61,250 shares last Thursday.

Hornbeck Offshore Services, Inc. (NYSE:HOS) provides marine transportation, subsea installation, and accommodation support to oilfield exploration and production companies as well as offshore construction, and the U.S. military. It operates primarily in the Gulf of Mexico but also has operational capabilities in Latin America as well as select other international locales. Hornbeck Offshore Services, Inc. (NYSE:HOS) is headquartered in Covington, LA.

Last week, Hornbeck Offshore Services, Inc. (NYSE:HOS) got some good news from the debt markets. Its 2020 5.875% bond rose in price 1.5% against its face value. Additionally, Zack’s investment analysts raised their rating on HOS to a “Hold” rating from a “Sell”. That brings the total number of “Hold” ratings on HOS to six while one analyst rates HOS shares as a “Strong Buy”.

There is a strong short position on Hornbeck Offshore Services, Inc. (NYSE:HOS) equal to over 35% of the float. Given HOS share’s volumes, that equates to a short ratio of 9.29. The 52-week low for Hos is $3.00 and the 52-week high is $12.57. Analyst’s consensus price target for HOS is $8.00.

Sales and EPS has been sliding since 2014. EPS in 2014 was $2.43 but that declined to a figure of a loss of -$1.76 in 2016. The 2014 sales figure for Hornbeck Offshore Services, Inc. (NYSE:HOS) was $634.8 million but that number shrank to $224.3 million in 2016. On a brighter note – the number of outstanding shares of HOS has remained stable and dilution has not been a concern for investors.

3/20/2017
Ticker Symbol HOS
Last Price a/o 4:00 PM EST  $                      3.71
Average Volume                1,240,000
Market Cap (mlns)  $                  135.30
Sales (mlns) $224.30
Shares Outstanding (mlns) 36.47
Share Float (mlns) 32.11
Shortable Yes
Optionable Yes
Inside Ownership 11.00%
Short Float 35.76%
Short Interest Ratio 9.29
Quarterly Return -51.82%
YTD Return -48.61%
Year Return -64.02%

I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 96 hours. All information, or data, is provided with no guarantees of accuracy.

About the author: Steve Clark is a 23-year Wall St professional with stints in M&A, risk management, and algorithm trading.

Author: Steve Clark

Steve Clark is a 23-year Wall St professional with stints in M&A, risk management, and algorithm trading. Steve keeps his head in the game by looking for, and writing about, small companies that often get overlooked by the big investment firms.

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