An issue of Hornbeck Offshore Services, Inc. (NYSE:HOS) bonds rose 1.8% against their face value during trading on Monday. The high-yield issue of debt has a 5% coupon and will mature on March 1, 2021. The debt is now trading at $60.75 and was trading at $58.50 one week ago. Price changes in a company’s bonds in credit markets sometimes predict parallel changes in its share price.
A number of brokerages have recently commented on HOS. Capital One Financial Corp. reiterated an “equal weight” rating on shares of Hornbeck Offshore Services in a research report on Thursday, February 16th. Zacks Investment Research upgraded Hornbeck Offshore Services from a “sell” rating to a “hold” rating in a research report on Friday, February 17th. Two research analysts have rated the stock with a sell rating and seven have issued a hold rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $9.83.
Shares of Hornbeck Offshore Services, Inc. (NYSE:HOS) traded up 15.94% during mid-day trading on Monday, reaching $3.71. 2,230,271 shares of the company’s stock traded hands. Hornbeck Offshore Services, Inc. has a 52 week low of $3.00 and a 52 week high of $12.57. The firm’s market cap is $135.29 million. The company’s 50 day moving average is $5.36 and its 200-day moving average is $5.81.
In other news, CEO Todd M. Hornbeck acquired 61,250 shares of the company’s stock in a transaction dated Friday, March 17th. The stock was bought at an average price of $3.26 per share, with a total value of $199,675.00. Following the completion of the acquisition, the chief executive officer now owns 925,902 shares in the company, valued at approximately $3,018,440.52. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 6.00% of the company’s stock.
Hedge funds have recently modified their holdings of the stock. Selz Capital LLC bought a new stake in shares of Hornbeck Offshore Services during the third quarter worth $1,650,000. South Dakota Investment Council bought a new stake in shares of Hornbeck Offshore Services during the third quarter worth $493,000. Vertex One Asset Management Inc. bought a new stake in shares of Hornbeck Offshore Services during the fourth quarter worth $505,000. State Street Corp raised its stake in shares of Hornbeck Offshore Services by 7.2% in the fourth quarter. State Street Corp now owns 816,200 shares of the company’s stock worth $5,894,000 after buying an additional 55,158 shares in the last quarter. Finally, California Public Employees Retirement System raised its stake in shares of Hornbeck Offshore Services by 20.5% in the third quarter. California Public Employees Retirement System now owns 248,900 shares of the company’s stock worth $1,369,000 after buying an additional 42,400 shares in the last quarter.
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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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